Alabama (AL) Business Insurance

Choose The Hartford for All Your Alabama Business Insurance Needs

Alabama is home to 392,939 small businesses, making up 99.4% of businesses in the state. Those small businesses employ 775,829 employees. In this case, small businesses are defined as businesses with fewer than 500 employees.¹ Alabama businesses have been protecting themselves with small business insurance from The Hartford for hundreds of years. It’s no wonder more than 1 million small business owners trust The Hartford for their business insurance needs. Learn more about Alabama small business insurance, commercial property insurance and Alabama business insurance:

Types of Alabama Business Insurance Offered

Alabama Business Owner’s Policy

An Alabama business owner’s policy, also known as a BOP, is one singular policy that combines business property insurance and business liability insurance. BOP coverage can help cover your business from claims resulting from things like robbery, fire or other disasters. For example, when a fire destroyed part of a restaurant’s kitchen, a major financial loss was endured. The restaurant’s Alabama business insurance policy helped covered the costs associated with the damages. BOP insurance coverage also helps protect your business from claims involving bodily injury, personal and advertising injury, and property damage that could arise from your Alabama business operations. For example, say an employee trips on a lose floor tile, falls, and breaks their ankle. As a result, they file a claim against their employer. The employer’s Alabama business owner’s policy will help cover the costs associated with the claim.

You should consider a Business Owner’s Policy if:

Your company has a physical location like storefront, a home, rented or owned office.
There is potential for someone to sue your business. For example, a customer who was severely injured in your office and makes a claim against your company.
Your business has physical and/or digital assets that can be stolen or damaged. This includes furniture, case, inventory, customer data or other digital assets.

Alabama Data Breach Insurance

Data breach insurance and cyber liability insurance from The Hartford helps cover the costs of a data security breach. Depending on the coverage you select, this can include identity protection solutions, legal fees, PR, liability and more. Data breach coverage is essential for helping enable you to immediate action to mitigate the potential damage and restore public confidence in your business after enduring a breach or cyber attack.

Cyber liability and data breach insurance can help lower the risk of litigation and other penalties when a data breach or loss takes place and when providers offer access risk management services to policyholders. These services can provide access to professionals who can help your Alabama business comply with laws and regulations and create policies and procedures designed to prevent data breaches and minimize losses if one occurs.

A Hartford representative can help you find the best data breach insurance coverage for your AL business. Consider data breach insurance if:

Your business requires employees to save data on a network. This practice is important to your Alabama business, but may also expose it to the risk of data breach, damage or loss.
Your business keeps customer, employee, or patient data on file which can be a target for hacking. This includes credit card information, bank account information, Social Security numbers, and more.

Alabama Employment Practices Liability Insurance

Employment practices liability insurance (EPLI) from The Hartford is designed to help your Alabama business prevail if you face an employment-related claim related to:

Harassment
Retaliation
Discrimination
Violation of FMLA
Wrongful termination
Wrongful discipline
Wrongful failure to promote

The costs associated with an employment practice-related claim can be staggering. Employers in Alabama may face several claims and lawsuits around wrongful termination, discrimination, and more. Also, keep in mind that a business owner does not have to be in the wrong to be sued. The right insurance to cover defense costs and damages related to these claims can be crucial to protecting your business’s financial well-being. The Hartford provides comprehensive and customizable EPLI coverage that’s designed to protect you and your business.

Alabama’s Workers’ Compensation Insurance

Workers’ compensation insurance provides benefits to employees for on-the-job injuries or illnesses including medical care, wages from lost time at work, and more. Workers’ compensation insurance coverage can also provide a deceased worker’s family with financial benefits. If the family of an employee decides to sue your Alabama business, workers’ compensation insurance can help cover the legal fees associated with the claim.

Workers’ compensation insurance can help protect your business and employees if:

An employee injures his arm lifting a heavy box of office supplies and the employee requires a visit to his doctor, medication, and physical therapy.
An employee returning to the store after meeting with a client is injured in a car accident and requires hospitalization.
An employee slips in the office kitchen, injuring himself and a coworker while falling. Both employees require an emergency room visit and weeks to recover.

With worker’s compensation insurance, The Hartford can help cover the cost of medical expenses needed to treat these work-related injuries and illnesses. Workers’ compensation also helps employees in Alabama replace their income while they take time off to recover from an injury.

Alabama Minimum Business Insurance Requirements

The Alabama Workers' Compensation Law does not require you to have workers' compensation insurance coverage if you employ less than five full- or part-time employees. This includes officers of a corporation in any one business other than construction businesses or businesses that assist in the on-site building of new single-family, detached residential dwellings.

Employers of domestic employees, farm laborers, or casual employees and municipalities who have a population of less than 2,000 (according to the most recent federal census) are not required to provide workers comp coverage. However they can elect to be covered by the provisions of the Alabama Workers' Compensation Law.²

Additional Alabama Business Insurance Links

Get a quote on Small Business Insurance for your business today.

¹ https://www.sba.gov/sites/default/files/advocacy/2018-Small-Business-Profiles-AL.pdf

² https://labor.alabama.gov/wc/insurance.aspx