Vermont (VT) Business Insurance

Choose The Hartford for All Your Vermont Business Insurance Needs

As of 2018, Vermont is home to 77,863 small businesses, making up 99% of companies in the state. Those small businesses employ 158,098 employees. In this case, small businesses in the Green Mountain State, are defined as businesses with fewer than 500 employees.¹ Vermont businesses have been protecting themselves with business insurance from The Hartford for hundreds of years. Learn more about Vermont small business insurance, commercial property insurance and Vermont business insurance.

Types of Vermont Business Insurance

Vermont Business Owner’s Policy

A Vermont business owner’s policy combines both business property insurance and business liability insurance into a single policy for your Vermont small business. A business owner’s policy commonly referred to as a BOP, helps cover your business from claims resulting from theft, fire, or another covered accident or disaster. A BOP also helps cover your Vermont business from claims of injury, property damage, personal injury and advertising injury that could take place from your business’ daily operations. For example, say customer accidently trips on a fallen object in your store and breaks their ankle. As a result, they file a claim against you. Your business owner’s policy can help cover the costs associated with the claim.

Your business in Vermont can tailor a BOP to help meet your unique business needs by adding supplemental coverages like data breach insurance, workers’ compensation insurance, and other specialized coverages.

Consider a business owner’s policy if:

Your business could be sued for example, by a customer who was seriously injured on your business premises.
Your business has property that can be damaged or stolen, including computers, software, customer information, equipment, furniture, inventory or more.
Your business has a store, office, or workplace that is either in your home, rented, or owned.

Vermont General Liability Insurance

It is important to note that Vermont general liability insurance coverage helps protect your business in VT from property damage claims and bodily injury claims, in addition to personal and advertising injury claims that could put your business at risk.

Commercial general liability insurance (CGL) is sometimes referred to as business liability insurance or general liability insurance. It provides insurance coverage for injuries to customers, damage to property owned by others, and lawsuits. CGL can help cover the cost of medical expenses and legal fees if an incident leads to litigation. CGL also helps protect Vermont businesses and their employees from the risk of trials involving not only claims of bodily injury and property damage, but also libel, slander and medical payments claims. For example, say you advertise that your brand was proven to have health benefits when in reality it wasn’t. After customers find out, they file claims against you. Your commercial general liability insurance can help cover the costs related to the claim.

Vermont Workers’ Compensation Insurance

Vermont workers’ compensation insurance, or workman’s compensation insurance, provides benefits to employees for work-related injuries or illnesses. This coverage helps with medical care costs, wage replacement for lost work time, and more.

Workers’ compensation insurance protection also covers a worker’s family with a financial benefit in the case of a death, and may even cover the related legal fees if the family decides to sue your Vermont company.

Workers’ Compensation Insurance can help protect your business and employees for accidents like these:

An employee slips on a spill in the backroom, injures himself, and requires a visit to the urgent care. As a result, they need four weeks of recovery.
An employee injures her leg moving office furniture during a remodel and requires a doctor’s visit, medication, and long-term physical therapy treatment.
An employee is driving back from a conference and is injured in a car accident, requiring his hospitalization and totaling his vehicle.

With workers’ compensation insurance, The Hartford can help cover the medical costs to treat these job-related injuries. Workman’s comp insurance will also help employees replace their income while they take time away from the job to recover from a covered illness or injury.

Vermont Commercial Auto Insurance

Commercial auto insurance helps your Vermont business cover the financial costs of a covered car accident if you or an employee is found to be at fault for the crash. Commercial auto insurance helps pay for not only medical expenditures but also damaged property, even if the collision is fatal.

Commercial auto insurance can help protect your business in VT if:

An employee is driving a company truck and hits a pedestrian crossing the street, and that pedestrian requires medical treatment resulting in substantial bills.
An employee accidentally swerves off the road driving to work one morning and takes out a residential mailbox. As a result, they must pay for the repair.
You are driving to work and accidentally hit another vehicle and total it.

Vermont Minimum Business Insurance Requirements

Workers’ compensation insurance is mandatory for all Vermont employers.² In Vermont, two state agencies divide regulatory oversight of the workers’ compensation system. The Vermont Insurance Division (Department of Financial Regulation) regulates issues related to insurers and the insurance companies in Vermont. The Vermont Department of Labor deals with program administration and problems pertaining to claims.³

Additional Vermont 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-VT.pdf

² https://labor.vermont.gov/sites/labor/files/doc_library/Fact%20Sheet%20For%20Employers.pdf

³ https://dfr.vermont.gov/insurance/workers-compensation

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