Kentucky (KY) Business Insurance

Choose The Hartford for All Your Kentucky Business Insurance Needs

The Bluegrass state is home to 347,159 small businesses. Kentucky had 696,183 small business employees in 2015, which made up 44.1% of employees in the state. Companies with fewer than 100 employees have the most significant share of small business employment. Small businesses in Kentucky created 17,194 net jobs in 2015. Businesses employing 20 to 99 employees experienced the most substantial gains, adding 6,677 net jobs in 2015.¹ The Hartford has provided thousands of Kentucky businesses with business insurance.

Types of Kentucky Business Insurance Offered

Kentucky Business Owner's Policy

Business owners in Kentucky can tailor a Business Owner’s Policy to meet their unique business needs. A Kentucky Business Owner’s Policy, which is also referred to as a BOP, combines both business property and business liability insurance into a single policy. A business owner’s policy helps protect your business from claims resulting from losses including fire, theft, or another disaster and from claims involving bodily injury, advertising injury, and property damage that could arise from your Kentucky business’s day-to-day operations. Consider a BOP for your Kentucky business if:

Your business has a physical location, including a home office, a rented or owned office, storefront, or another workplace premises.
Your business has a possibility of being sued, for example, by a customer who was hurt in your office building.
Your business owns property that can be stolen or damaged – this includes customer data, office furniture and equipment, digital assets, inventory, and cash.

Kentucky Workers’ Compensation Insurance

In the state of Kentucky, all employers must carry workers’ compensation insurance or become self-insured, except for certain agricultural employers. Even employers with only one employee – whether they are part-time or full-time – falls under the purview of Kentucky workers’ compensation regulations and must have insurance or be self-insured.²

Workers’ compensation insurance, also commonly referred to as workman’s comp insurance or workers’ comp, provides benefits to employees for job-related injuries or illnesses including medical care, wages lost from time in the workplace, and more. Workman’s comp insurance also covers a deceased worker’s family with a financial benefit. If a worker’s family decides to sue the company, it can also help cover related legal fees incurred.

Workers’ compensation insurance can help protect your Kentucky business and employees in situations such as these:

An employee returning to the office from a client meeting is hurt in a car accident and requires hospitalization, after an ambulance ride.
An employee injures himself by pinching a nerve in his back moving office furniture and requires a doctor’s visit, medication, and physical therapy.
An employee slips on a spill in your store aisle, injures herself, and requires an emergency room visit and weeks of recovery time.

Kentucky General Liability Insurance

General Liability Insurance coverage (GL) helps protect your Kentucky business from property damage claims, bodily injury claims, and personal injury claims that could put your Kentucky business at risk. Commercial General Liability Insurance (CGL), sometimes referred to as Business Liability Insurance, provides coverage for customer injuries, damage to others’ property and lawsuits. Commercial General Liability Insurance coverage can help protect your Kentucky business by helping to cover the costs related to claims of:

Bodily injury or property damage
Reputational harm
Medical payments
Damage to rented property
Advertising errors

General Liability Insurance from The Hartford can be purchased as a stand-alone coverage or included in a Business Owner’s Policy.

Kentucky Business Income Insurance

Business Income Insurance coverage helps replace income lost when a business in Kentucky in unable to operate due to a covered property loss such as damage from wind, theft, or a fire. For example, if your Kentucky business is unable to operate and generate revenue due to a fire in your office building, business income insurance coverage can help cover your business costs until you are back up and running again. This way, you can continue to pay expenses, such as payroll and monthly operating costs, while your Kentucky business property is being repaired or replaced.

Consider business income insurance coverage for your Kentucky business if:

Your business is a software company that relies on physical property (office, computers, and servers) and digital property, such as cloud storage.
Your Kentucky business is a service business, such as a car repair shop, that depends on a physical location and tools to serve your customers.
Your business is a retail operation that requires online and brick-and-mortar storefronts to showcase products that are available for purchase by customers.

Kentucky Minimum Business Insurance Requirements

The Bluegrass State requires all Kentucky employers to establish a state unemployment insurance account, as well as provide workers’ compensation insurance. Specific industries require additional insurance coverages. Learn more about the required insurance for your Kentucky business.

Additional Kentucky Business Insurance Options

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

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

² https://www.disabilitysecrets.com/resources/workers-compensation/kentucky-workers-comp-claims-eligibi