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Choose The Hartford for Small Business Insurance in Utah
As one of the top states for business, Utah has a strong economy and business sector.1 Businesses in the state work in various industries, including:2
- Aerospace and defense
- Financial services
- Information technology
- Life sciences
Many of these companies are small businesses. In fact, more than 333,000 small businesses call Utah home, employing more than 635,000 employees, or 45% of the state’s workers.3
Business insurance in Utah helps protect your company from risks that can come up during normal business operations. Whether your business is in Salt Lake City, Provo, West Jordan or elsewhere in the state, we’ve got your back.
How Much Does a Small Business in Utah Pay for Insurance?
Our small business customers in Utah paid an average of $983 a year, or about $82 a month, for a Business Owner’s Policy (BOP).4 For workers' compensation insurance, Utah small businesses paid an average of $666 a year or about $55 a month.5
Your insurance cost may be different than the average, because certain factors can impact your insurance cost in Utah, such as:
- Business experience
- Claims history
- Type of business
- Lugar
The best way to find out your business’ specific cost for insurance is to obtener una cotización.
Types of Utah Business Insurance Offered
Utah Business Owner’s Policy
Many business owners in Utah start with a BOP. This combines three coverages to help protect you against claims of bodily injuries or property damage. A BOP includes:
- General liability insurance
- Commercial property insurance
- Business income insurance
You may want to consider a BOP if your business:
- Has the potential of getting sued for customer injuries.
- Operates from an owned or rented physical space, like a building or office space.
- Owns digital or physical property that can get stolen or damaged (this includes furniture, software, tools and inventory).
- A BOP can help your Utah business if:
- A customer trips and falls in your Provo store, and they sue you to cover their medical bills.
- Your employee damages a customer’s furniture while moving it in their Logan home.
- A business owner in Salt Lake City sues your company, claiming you damaged their reputation after making comments about them in a news interview.
Utah General Liability Insurance
General liability insurance helps protect your business from claims that your business caused:
- Lesiones corporales
- Property damage to someone else’s belongings
- Personal injury, like libel or slander
This coverage is also known as commercial general liability insurance and business liability insurance.
Utah Data Breach Insurance
Data breach insurance helps protect your business from claims that it caused:
- Lesiones corporales
- Property damage to someone else’s belongings
- Personal injury, like libel or slander
This coverage is also known as commercial general liability insurance and business liability insurance.
Utah Data Breach Insurance
Data breach insurance helps your business respond to a breach if personally identifiable information gets lost or stolen. Some insurance companies refer to this coverage as cyber insurance, or cyber liability insurance.
Following a breach, this type of insurance can help pay for your costs to:
- Notify impacted individuals
- Create a public relations campaign to improve your business’ reputation
- Offer credit monitoring and identify theft prevention services
Utah Business Income Insurance
Property damage can prevent you from operating your Utah business, which could significantly impact your company’s finances. Business income insurance helps recover your lost income if you can’t operate because of covered property damage due to:
- Incendio
- Robo
- Viento
This type of insurance is in a BOP, but you can increase coverage to address your business’ specific needs.
Utah Workers’ Compensation Insurance
Workers’ compensation insurance insurance gives benefits to your employees if they suffer a work-related injury or illness. It can help pay for:
- Medical expenses
- Ongoing care bills
- Lost wages
- Funeral costs
If an employee or their family sues your business for a work-related injury or illness, workers’ compensation insurance can help pay your legal costs.
Professional Liability Insurance in Utah
Your customers or clients can sue your Utah business for mistakes in the professional services given. Professional liability insurance can help cover your legal costs if someone sues your business, including:
- Defense fees
- Settlements
- Judgments
Utah Minimum Business Insurance Requirements
Utah requires most employers to carry workers’ compensation insurance. Even small businesses with just one employee, including a family member, may need to have coverage. Be aware that there are exemptions to this law. So, it’s a good idea to make sure you’re familiar with Utah’s minimum business insurance requirements.
Get a Business Insurance Quote in Utah Today
We’re not like other insurance carriers. We’re an experienced insurance company with more than 200 years of experience, and we’ve helped over 1 million small business owners throughout the country. We’re here to do the same for you. Whether you have coverage questions or need help filing a claim, we’ve got your back.
Obtenga una business insurance quote today and see how we can help protect your small business. If you happen to live in the Beehive State, consider also checking out our home insurance for Utah residents.
Additional Utah Business Insurance Links
- Seguro comercial para automóviles
- Seguro para ingresos comerciales
- Seguro comercial contra inundaciones
- Seguro de propiedades comerciales
- Seguro comercial suplementario
- Management & Professional Liability
- Surety Bonds
- Seguro para empresa con base en su hogar
- Responsabilidad por prácticas de empleo
- Ingeniería de riesgo
- Soluciones sensibles a las pérdidas (deducibles)
Última actualización: 1 de julio de 2024
1 CNBC, "Overview of Utah."
2 Utah Governor's Office of Economic Opportunity.
3 U.S. Small Business Administration Office of Advocacy, “2020 Small Business Profile: Utah.”
4,5 Premium amounts presented are based on monthly premium paid by The Hartford’s Small Business customers between 1/1/22 and 9/14/23 for 12-month policies. Premium is derived from a number of factors specific to your business and may vary.
Divulgaciones adicionales a continuación.