Choose The Hartford for Your Nevada Small Business Insurance Needs
The Silver State is the 7th-largest state in the nation geographically, with about 229,500 small businesses
. Almost all firms with employees are small, making up 95.6% of all employers in the state.1
Nevada has a beneficial business tax structure including no personal income tax, no corporate income tax, no inheritance tax, no franchise tax and no business inventory tax. With all of these tax benefits, it is no wonder Nevada is the third fastest growing state in the nation.2
Types of Nevada Business Insurance Offered
Nevada Business Owner's Policy
Purchasing a Business Owner’s Policy (BOP)
is smart and convenient. A BOP combines business liability and business property insurance into one single policy. A business owner’s policy helps cover your Nevada business from claims for things like fire, burglary, theft or other covered disasters. Nevada businesses can tailor a BOP to help meet their specific needs by adding optional coverages including business interruption insurance, commercial auto insurance and other specialized coverages. Your business should consider a BOP if for example:
- Your business has a physical address, whether it is in your home or an office that is rented or owned, storefront or another workplace.
- Your business has assets that can be stolen or damaged – this can include digital assets, office furniture, office equipment, customer data, cash or inventory.
- Your business has the possibility of being sued – this can include a customer getting injured in your workplace.
Seguro para la pérdida de datos
In addition to a Business Owner’s Policy, businesses in Nevada should consider Seguro para la pérdida de datos
coverage, especially with so many data centers in Nevada. Las Vegas alone has 1.32 million square feet of data center space from 13 providers.3
Data breach and cyber liability insurance helps cover the costs of a data breach for things including legal fees, public relations, identity protection solutions and more. To reduce the risk of a civil lawsuit or additional penalties when data loss or theft takes place, a cyber liability or data breach policy can provide access to professional assistance to help your Nevada business manage the breach and comply with both state and federal regulations and laws. Here are a few examples of businesses that may benefit from data breach insurance:
- Your Nevada business has a network that employees save data on.
- Your business keeps customer or patient records, such as credit card information, bank account numbers, medical histories or social security numbers in its database which can be a target for hackers.
Nevada Workers’ Compensation Insurance
Workmans’ comp insurance, also known as Seguro de compensación para trabajadores
, provides benefits to Nevada employees for work-related illnesses or injuries. Benefits include coverage for medical care, replacing wages for lost work time, and covering a deceased worker’s family with financial benefits. If that family files a lawsuit against your company, workers’ compensation insurance can also help cover the related legal fees. Workers’ compensation insurance can help protect your Nevada business and employees for incidents such as these:
- A chef is frying tortillas for dinner and a grease fire takes place, injuring him while he is cooking, requiring an emergency room visit and weeks of recovery time.
- An employee drives back to the office after visiting a client down the road and is injured in a car accident, requiring hospitalization.
- An employee injures her back lifting a box of inventory and requires a doctor’s visit, weeks of medication and physical therapy.
Seguro general contra terceros
Seguro general contra terceros
coverage helps protect your Nevada business from bodily injury claims, property damage claims, and/or advertising injury claims that can put your business or your business assets at risk. General liability insurance offers some of the broadest business insurance coverage and can be included in a Póliza para propietarios de empresas
or as stand-alone coverage. General liability insurance can help protect your Nevada business for incidents such as these:
- While on the job, your employee accidentally damages a customer’s property and the repairs are very expensive. Should a claim like this be made against your company, your commercial general liability insurance may help cover the cost of the damages.
- A customer shopping in your retail store slips on wet ground and injures herself on your property. The injuries result in pricey medical bills and potentially a lawsuit.
- A competitor accuses your business of publishing material that violates an individual’s privacy rights and threatens a lawsuit.
Nevada Minimum Business Insurance Requirements
The law requires employers operating in the Silver State to secure and maintain Seguro de compensación para trabajadores
for their employees. The Division of Industrial Relations, Workers’ Compensation Section (WCS) is responsible for ensuring all employers are in legal compliance. Employers who fail to secure and maintain a workers’ compensation policy for their Nevada employees will be charged with an administrative fine up to $15,000; premium penalties; may be ordered to cease operations until workers’ compensation insurance has been obtained; and will be held financially responsible for all costs relating to an uninsured claim.4
Learn more from the Nevada Department of Business and Industry
Additional Nevada Business Insurance Links