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Choose The Hartford for Your Colorado Small Business Insurance Needs
Colorado has seen significant growth with small businesses over the last few years. In fact, almost all businesses within Colorado are small businesses, employing 1.2 million people throughout the state.1 Business owners should familiarize themselves with each type of seguro de negocio available so they can determine what’s best for their unique business.
We’re an insurance company that has served Colorado businesses for more than 200 years and are here to help protect you with the business insurance coverages you need.
How Much Is Business Liability Insurance in Colorado?
Our small business customers in Colorado pay an average of $916 a year, or about $76 a month, for a Business Owner’s Policy (BOP).2 For workers' compensation insurance, our customers pay an average of $759 a year, or about $63 a month.3
It's important to remember insurance costs vary because businesses have unique needs. So, the amount you’ll pay for business insurance varies.
What you’ll pay is determined by your insurance company through different factors, like your:
- Risk exposure
- Business location
- Years in business
- Type of business
- Límites de la cobertura
- Claims history
Types of Colorado Business Insurance Offered
Small businesses in Colorado may need different types of business insurance to stay protected from costly claims that could come up during normal operations. Many businesses start with a BOP, which combines business property and business liability insurance into one policy.
General Liability Insurance Colorado
General liability insurance helps protect your business from claims that it caused bodily injury or property damage to others.
General liability insurance is very valuable because it is one of the broadest policies available. You can purchase it as a stand-alone policy, but it is also included in our Business Owner’s Policy (BOP).
This type of insurance is very valuable because it is one of the broadest policies available. You can purchase it as a stand-alone policy, but it is also included in our BOP.
Seguro para ingresos comerciales
Business income insurance, or business interruption insurance, can help replace your lost income if you can't operate due to covered property damage. This coverage can help pay your:
- Mortgage, rent or lease
- Employee wages and payroll
- Pérdida de ingresos
- Loan payments
- Tax payments
Colorado Commercial Property Insurance
Commercial property insurance helps protect the owned or rented property used to operate your business, including:
- Equipos
- Building
- Tools
- Inventario
- Muebles
A commercial property insurance policy can help protect your business if:
- A fire destroys your manufacturing warehouse and equipment.
- Your office gets broken into and equipment gets stolen.
- A severe windstorm causes a tree to fall and break through your storefront, closing your business for multiple days while you have it fixed.
Colorado Commercial Auto Insurance
Colorado commercial auto insurance helps protect you and your employees on the road if you drive company-owned vehicles for business. It can help cover the financial costs from a car accident if you or an employee is found to be at fault.
Commercial Auto Insurance can help protect your Colorado business if:
- An employee is driving a company-owned work vehicle and hits someone crossing the street, causing the pedestrian to require medical treatment resulting in substantial bills.
- An employee swerves off the road to avoid hitting an animal while driving a delivery truck for work. They take out a residential mailbox that needs to be replaced.
- You’re driving from the office in a company car to meet a client and accidentally crash into another vehicle, totaling it.
Hired and Non-Owned Auto Insurance
If you rent vehicles or your employees use their own vehicles for business, hired and non-owned auto insurance can help protect you on the road. It helps cover property damage or bodily injury that your business caused to someone else in an accident.
Colorado Workers’ Compensation Insurance
Colorado workers’ compensation insurance, or workers’ comp insurance, gives benefits to your employees if they get a work-related injury or illness. It can help pay for their medical care, help replace lost wages if they can’t work because of a work-related injury or illness and more. If a family of an employee decides to sue your business, workers’ compensation insurance can also help cover your legal costs.
With The Hartford, your employees have access to:
- A preferred medical provider network with more than 1 million medical professionals experienced in treating workplace injuries.
- More than 65,000 U.S. pharmacies to fill a prescription, usually with no out-of-pocket expenses, plus convenient mail-order service.
- Nursed Back to Health Program, which includes a highly experienced nurse case manager to help coordinate health care and treatment.
Worker’s compensation insurance can help protect your business and employees from the costs of accidents, such as:
- An employee slipping on a wet floor in the bathroom at work, injuring her shoulder and requiring a hospital visit and multiple weeks of recovery time.
- An employee injuring his back while moving desks into a new office area. His injury results in a doctor’s visit, medication and physical therapy for four weeks.
- An employee injuring herself in an accident while driving back to the office from a press conference, requiring an ambulance ride to the hospital and medication to help heal her wounds.
Business Liability Insurance Colorado
Business liability insurance is another name for general liability insurance. The Colorado Department of Regulatory Agencies (DORA) strongly recommends that business owners consider purchasing business insurance coverages, like liability insurance, to help protect their businesses from liability claims related to their:
- Productos
- Servicios
- Workplace
Liability coverage is included in our BOP, as well as commercial property insurance and business income insurance.
Business owners can tailor this policy to meet their specific needs. For example, you may want to add on additional coverage, like data breach insurance if you're at risk of a cyberattack.
With a BOP, you can protect your Colorado business if:
- Your merchandise gets stolen or damaged.
- A customer sustains an injury at your workplace and can sue you to cover their medical expenses.
- Your business has a physical location, whether it’s owned or rented space, that could be damaged by a fire.
Professional Liability Insurance Colorado
Professional liability insurance, also known as errors and omissions insurance, can help protect your business from claims that it made a mistake in the professional services given. This can include issues like losing a client’s wedding footage as a videographer or making a clerical error that costs your client money as an accountant. Even though these situations are accidental, they still can result in costly legal repercussions.
A professional liability insurance policy may be a good idea for businesses in these industries:
- Technology professionals
- Travel agent
- Interior designer
- Accounting and tax professionals
- Consultant professionals
Does Colorado Require Business Insurance?
The state of Colorado requires you to have workers’ compensation insurance if you have at least one employee. Certain industries, such as healthcare, may also need to carry professional liability insurance.4
You’ll also need commercial auto insurance or hired and non-owned auto coverage if you or your employees drive for business. Your auto policy should meet Colorado’s minimum liability limits:5
- Bodily injury liability: $25,000/$50,000
- Property damage liability: $15,000
Get a Quote for CO Business Insurance
We’re honored to protect thousands of Colorado small businesses, giving owners like you the peace of mind you need to run your operations. As an insurance company with more than 200 years of experience, we understand the unique risks businesses of all kinds face. Our specialists can work with you to help you find the coverage you need to protect your Colorado business. Reciba una cotización today and see how The Hartford can help you.
Additional Colorado Business Insurance Links
- Seguro para ingresos comerciales
- Commercial auto insurance in Colorado
- Seguro de propiedades comerciales
- Seguro para la pérdida de datos
- Seguro general contra terceros
Última actualización: 9 de julio de 2024
1 U.S. Small Business Administration, “2023 Small Business Profile: Colorado.”
2 Colorado Department of Regulatory Agencies: Division of Insurance, “Small Business Insurance.
2, 3 Premium amounts presented are based on monthly premium paid by The Hartford’s Small Business customers between 1/1/22 and 9/13/23 for 12-month policies. Premium is derived from a number of factors specific to your business and may vary.
5 Colorado General Assembly, “Mandatory Automobile Insurance in Colorado.”
Divulgaciones adicionales a continuación.