Washington DC Business Insurance

Choose The Hartford for All Your DC Business Insurance Needs

The District of Columbia is not only a popular tourist destination; it’s also a great place to own a business. In the second quarter of 2016, Washington, DC grew at an annual rate of 1.7%, faster than the overall US growth rate of 1.2%. DC small businesses employed 48.5% of the private workforce in 2014. Washington, DC is also home to 29,958 minority-owned businesses.¹ The Hartford specializes in business insurance for companies based in Washington, DC.

Top Types of DC Business Insurance Offered

DC Business Owner’s Policy

Washington, DC businesses can customize a Business Owner’s Policy to help meet their needs. A Business Owner’s Policy (BOP) combines business property insurance and business liability insurance into one single policy. BOP coverage can help cover your DC business from claims resulting from fires, theft, covered disasters or claims involving bodily injury, property damage or personal and advertising injury that may take place due to daily operations. You should consider a business owner’s policy if:

Your business has the potential to be sued. For example, by a customer who fell and was injured at your place of business.
Your business has assets that can be damaged or stolen. This not only includes furniture or office equipment but digital assets as well, such as customer data.
Your business has a physical location. This includes storefronts and offices, rented or owned.

DC General Liability Insurance

General Liability Insurance coverage helps protect your Washington, DC business from property damage claims, personal and advertising injury claims, as well as bodily injury claims. The Hartford’s Commercial General Liability insurance offers some of the best, broadest, business insurance coverage available in the market today. This coverage is included in a Business Owner’s Policy but is also available as stand-alone insurance coverage. Here are a few risks your Washington, DC business may face that commercial general liability insurance can help protect against:

Medical Payments – The Hartford helps defend against certain claims for medical costs if someone is hurt on your property and needs medical treatment.
Advertising Errors – The Hartford protects your business against specific claims if someone suggests you infringed on copyrights with advertising foods, products or services in your promotional advertisement.
Reputational Harm – The Hartford protects your DC business against certain claims of malicious prosecution, libel, slander, wrongful eviction, etc.

Washington, DC Business Income Insurance

Business Income Insurance coverage helps replace lost income when your Washington, DC business is unable to operate due to a covered property loss such as damage from theft, fire or wind. Business income insurance can help cover costs if your business is unable to operate and generate revenue until your business is up and running again. With business income insurance from The Hartford, you can continue to pay expenses, including payroll and monthly bills, while your property is being replaced or repaired due to damage. Your business may benefit from adding business income coverage to your policy if:

You own a software company that relies on a physical office as well as digital property including cloud storage.
You own a business that provides services such as hair salons that require a physical location and tools to provide service to customers.
You own a retail business that requires online and/or a brick-and-mortar store to display products, so customers can make purchases.

DC Management and Professional Liability Insurance

Professional Liability Insurance helps cover you and your DC business if you are found negligent in the services you provide. Examples of this include making a clerical error that costs your client thousands of dollars or working as a wedding photographer and accidentally damaging your client’s wedding photos. Many businesses need professional liability insurance, also known as errors and omissions (E&O) insurance. Many businesses benefit from professional liability insurance including:

Real Estate Professionals
Technology Professionals
Accountant and Tax Professionals
Legal Professionals
Home Inspectors
Consultants

Washington, DC Minimum Business Insurance Requirements

Workers’ compensation insurance is required for companies in the District of Columbia with one or more employees. Typically, workers’ compensation covers the employee’s medical expenses, rehabilitation costs and missed wages. Automobile liability insurance is also required in the District of Columbia.² Learn more about minimum business insurance requirements in DC from the DC Department of Insurance, Securities and Banking.

Additional Washington, DC Business Insurance Links

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

¹ https://www.sba.gov/sites/default/files/advocacy/District_of_Columbia_1.pdf

² https://disb.dc.gov/page/introduction-liability-insurance