Business & Commercial Insurance
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Business & Commercial Insurance Information
Serving Little Rock, North Little Rock & Fort Smith, Arkansas
Arkansas is a state full of promise and opportunity with millions of jobs, a growing population and plenty of tourism. If you're thinking of starting a business, Arkansas is a fantastic place to start. But before ever opening your doors, it's important to know what kind of insurance you need.
All businesses face some amount of risk, especially when it comes to the general public. Liability issues, product damage and property damage are all dangers you, as a businessowner, should consider and plan for.
Berryhill Insurance Group works hard to find clients business insurance that meets their unique company's needs. One lawsuit could put your business in a tight spot, or even out of business. Knowing what insurance coverage you need is one step to getting the insurance perfect for you.
There is insurance for nearly any danger your business could face. Berryhill Insurance Group offers three main subsets of business insurance:
General Liability Insurance
To keep yourself, your employees and your assets safe, general liability insurance steps in if a third party (such as a customer) suffers bodily injury or property damage as a result of your business. It can also cover personal and advertising injury, such as accusations of libel or copyright infringement.
This insurance can provide compensation for medical bills as well as legal fees if a victim sues.
Commercial Auto Insurance
If your business uses vehicles for work, you likely need commercial auto insurance. Arkansas requires commercial vehicles to be covered by a certain amount of commercial auto coverage:
- $15,000 in bodily injury liability per person
- $30,000 in bodily injury liability per accident
- $10,000 in property damage liability
These liability coverages help pay for medical and possible legal expenses if the driver causes bodily injury or property damage to someone else while operating the insured vehicle. If your company rents or borrows vehicles, you may also need to add Hired and Non-Owned Auto Insurance. Keep in mind that employees using their personal vehicles for work frequently won't necessarily be covered under their personal auto insurance policy.
Workers Compensation Insurance
Workers compensation is required by most states for businesses that hire and maintain employees. This insurance provides compensation for employees that are injured on the job. It can cover medical expenses, loss of income and disability.
Protect Your Business Today
A business is an investment, and it's important to protect that investment. The insurance professionals at Berryhill Insurance Group will work to pair you with affordable business policies for your company to ensure that you can focus on pushing your business to the top. Call us at (501) 868-9338 or fill out a free online quote form today!
Common Business Insurance Questions
Arkansas requires a certain amount of insurance for most businesses. Requirements include:
This depends on your policy type and limits. On average, a business owners policy can cost anywhere between $350 and $2,000 a year. On its own, general liability can cost between $300 and $5,000.
LLCs aren't generally required to carry insurance. Still, it's important to cover yourself and your business in case of liability lawsuits.
This depends on your policy and type of insurance, but most business insurances are paid through monthly or yearly premiums.
Arkansas typically requires businesses with three or more employees to carry workers compensation insurance. Any business that owns or uses vehicles for work must carry commercial auto insurance.