Is Commercial Insurance Required in Connecticut?

If you could predict the future, insurance would serve no purpose. But because you can’t tell what the future beholds, you need to carry insurance to protect you when the unthinkable happens. For businesses, it’s the hope that everything runs smoothly and that you have minimal liabilities to contend with. But in the dynamic and uncertain world that we live in, this utopic thinking remains just but a dream. 

With this in mind, you need to obtain commercial insurance to give your business all-around protection. But with many commercial insurance options at Allkane Insurance located in Stamford, CT, we understand why it may not be evident for you to narrow down to those that meet your needs. Thankfully, we are here to break it down for you.

Commercial insurance in Connecticut

Connecticut State requires all business to carry the below commercial insurance:

  • Commercial auto insurance: This coverage protects employees and assets from damages and accident-related injuries.
  • Workers’ compensation insurance: Whether seasonal or permanent, part-time or full-time employees, businesses are required to carry workers’ compensation insurance to cover medical expenses and lawsuits arising from work-related injuries.

Other commercial insurance options

It’s important to remember that the state’s requirements are just minimums, and therefore they don’t give optimal protection to your business. That said, talk to your agency to walk you through the following additional commercial insurance options for better coverage.

  • Business owner’s policy (BOP): Combines general liability insurance and commercial property insurance to protect your business against liabilities and damages to assets. 
  • Cyber liability insurance: Protects your business from malicious online activities.
  • Commercial umbrella insurance: Provides extra protection to your business when your typical liability coverages run dry.
  • Business loss insurance: Covers for loss of income for days when your business can’t operate because of specified interruptions. 

If you need more commercial insurance information, don’t hesitate to contact Allkane Insurance, located in Stamford, CT. Whether you are looking for business insurance for a startup or a seasoned business, we have commercial insurance solutions tailor-made for your unique needs.