Haberman Insurance proudly serves the business insurance needs of the Massachusetts community. Whether you own a family business with a long-standing history, or are just starting out as an entrepreneur, our specialized business insurance agents are here for you.
We can help you determine which of the following business insurance products helps put your business in the best position for success.
Massachusetts businesses are regularly exposed to a variety of potential perils. Just a few of the risks that businesses face include potential property damage, inventory losses, interruptions in daily operations, and liability lawsuits. Business insurance policies can help businesses protect themselves from many of the perils they face.
Because businesses in Massachusetts face lots of different risks, insurers offer a plethora of business insurance options. Some policies provide coverage against perils that many businesses are exposed to, while others afford more specialized coverage that businesses in a particular industry might be exposed to.
A few policies that provide protection from common perils that many businesses face include:
Industry-specific coverages are as varied as the industries that businesses are in. Some coverages that businesses in different industries might want include:
Most businesses should have at least some commercial insurance, regardless of their corporate structure or industry. For, any business could be sued, and many have property that could be lost, damaged, or stolen.
A major corporation in Boston, MA might be exposed to more risks than a family-run store in Springfield, MA. Both businesses, however, face at least some risks and therefore, should carry commercial insurance.
Commercial insurance policies’ premiums vary significantly. Premiums depend on what industry a business is in, where the business is located and many other factors, as well as what coverages that policy affords. In most cases, a small company that has only basic coverage needs will have much lower premiums than a larger company that needs more robust protections.
Commercial policies’ premiums usually can be deducted when filing taxes, as long as the premiums are used only to insure a business (and not an individual). Before deducting premiums, however, businesses should first confirm with a tax professional that the premiums qualify as tax deductions. Tax laws are complicated and change from year to year, so it’s wise to check with someone who is familiar with the intricacies of business tax regulations.
Massachusetts businesses that need business insurance should contact an independent insurance agent who specializes in commercial insurance. Such an agent will be able to help a business assess its risk exposure and identify what types of policies it needs. Once the kinds of policies a business needs have been determined, an independent agent can request quotes from multiple insurers for those policies. With an agent’s help, getting and comparing multiple quotes is quick and easy.