Vermont Business Insurance

Why Get Business Insurance in Vermont
The Vermont brand is a vital part of the state’s economy. Burton snowboards, delicious Cabot Cheese, kids’ toys from the Vermont Teddy Bear Company and Ben and Jerry’s Ice Cream are just some of the famous businesses which call Vermont home. As a business owner, it is your responsibility to protect your company’s assets and also its employees. Whether you own a large company with many employees or run a small business, the proper insurance coverage offers business owners solid financial protection in the event of a claim due to an accident, weather-related damages, or even certain natural disasters.

Without adequate coverage, the risk for small Vermont businesses is huge. For example, if an accident occurs on your business property and you aren’t properly covered by business liability insurance, a lawsuit can literally bankrupt your company. The same holds true for large businesses also. Even if a business continues to operate after a legal battle, it can suffer tremendously while trying to recover the damages awarded by the court. Many companies in this situation are forced to lower productivity and downsize the number of employees.

Don’t risk all you have worked so hard for by cutting corners when it comes to business insurance. Make sure that you, your business, and your personal assets are protected with Vermont liability insurance.

Worker’s Compensation in Vermont
The worker’s compensation system in Vermont is compulsory. All employers are required by law to provide worker’s compensation insurance for their employees either through a private insurance company or through self-insurance. Waivers may be allowed.

In Vermont, agricultural employers must also provide worker’s compensation coverage to their workers. It is not compulsory for employers with domestic servants to provide worker’s compensation coverage for this category of employees but they may do so voluntarily.

Employees entitled to worker’s compensation are provided full medical benefits without time or monetary limits. Other benefits provided in accordance with the law are disability and death benefits.

Coverage for Vermont Business Insurance
Whether you own a small business in a single location or have branches, Vermont business liability insurance can protect your company. However, handling coverage for a business operating in multiple locations is different because ideally, one policy covers everything. The type of coverage you need may differ too.

The main reason why you may not be able to cover all locations under one Vermont business liability insurance is this: worker’s compensation in some states must be a separate policy that is specific to the operations and the location. Therefore, what may be required in Vermont may not be required in another location and vice versa.

Multiple policies may be chosen for the same location, but you can add these smaller policies to your basic Vermont business liability insurance policy. That is why these are referred to as add-ons.

When you are looking for business insurance coverage, it’s smart to shop around and compare prices and coverage options. Your goal is to fully protect both you and your assets in the event of a lawsuit, claim, or covered natural disaster. Don’t risk losing everything you have worked so hard to attain by being uninsured or underinsured. Protect yourself, your business, and your success by purchasing adequate Vermont business liability insurance.