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Small Business Insurance

Amica has partnered with Hiscox Group to offer liability insurance to help you protect your small business. With over 100 years’ experience insuring businesses and an “A” (Excellent) rating from AM Best, Hiscox Group tailors coverage to your needs, allowing you to change your coverage as your business evolves. 

Understanding small business insurance options

No matter which industry you’re in, if you have a small business, you more than likely need small business insurance. Why not protect something you’ve worked so hard to build? Small business insurance can help protect your company’s business property and income, and shield it from liability claims.

One of the most common types of insurance for small business is a business owner’s policy (BOP). A BOP typically covers general liability, business income and commercial property, but you can also get these coverages separately.

Professional liability insurance

Professional liability insurance, also known as errors and omissions (E&O) insurance or malpractice insurance, protects businesses against financial losses arising from allegations of negligence in their professional services, even in the absence of an actual error. These claims can surface when clients assert that the business's actions or failures in the course of professional service delivery led to financial damage.

This coverage helps with various financial losses resulting from professional liability claims, including covering defense costs and potential settlements. It also assists with covering alleged or actual negligence, personal injury claims (like libel or slander), actions of temporary staff and independent contractors, and claims arising from professional services provided in the past (in some cases). It can also help with lost income due to reputational harm after a professional liability event.

Cybersecurity insurance

Cybersecurity insurance protects businesses of any size against computer-related losses. These can include phishing or ransomware attacks, or a stolen laptop or other device containing sensitive information. If a business maintains a website, uses email, accepts credit card payments or collects and stores customer data, it is vulnerable to a cyber incident.

This coverage helps with various financial losses resulting from cyber incidents, including recovering funds from fraud or social engineering and meeting regulatory costs. It also assists with defending against data privacy claims, providing broader coverage for privacy violation proceedings, covering data recovery and business interruption expenses, the cost to repair or replace damaged data, and lost income due to reputational harm after a cyber event

Business owner’s policy

A business owner’s policy is a comprehensive insurance policy that bundles general liability, property, business interruption and other additional coverages into one convenient package.

  • General liability coverage – This protects your business against third-party claims made against it for bodily injury and property damage resulting from products, services or operations.
  • Commercial property coverage – This protects your business’s buildings and business property against perils like fire and theft.
  • Business interruption coverage – This protects your business from lost income, operating expenses, employee payroll and more. For this coverage to apply, there must be a direct physical loss or damage to the insured place of business that resulted from a covered peril, such as fire.

General liability business insurance

If your business doesn’t operate out of a physical location or have tangible assets you need to insure, a general liability business insurance policy could be right for you. Businesses in the contracting and service industries may fall into this category. In these cases, a monoline general business liability insurance policy may make more sense than a BOP and can typically be purchased at a lower cost.


Cost of small business insurance

Small business insurance quotes can vary significantly. Several factors influence the premium you pay for small business insurance, including the policies you need, your coverage levels and the nature of your business. The best way to estimate your costs is to get a personalized quote.

Here's a breakdown of the key factors affecting your small business insurance premium:

  • Industry: Higher-risk industries typically have higher premiums.
  • Location: Like personal insurance, business insurance rates vary by location.
  • Size (Number of Employees): More employees can increase potential risks, impacting premiums.
  • Payroll and Sales: These figures influence business interruption coverage needs and thus, your premium.
  • Prior Claims: Past claims can lead to higher premiums due to perceived increased risk.
  • Coverage and Deductibles: Higher coverage and lower deductibles generally result in higher premiums.

Ready to learn more? Amica partners with Hiscox Group to offer small business insurance solutions. Call Hiscox today to get answers to your questions and to obtain small business insurance quotes for your business.

Why choose Amica?

The Amica experience means we provide reliable insurance coverage built on transparency, integrity and dependability, backed by our award-winning claims and customer service teams. With over a century of financial stability, we offer peace of mind, assuring policyholders that we're a firmly established and trustworthy insurance provider.

Exceptional value

Our approach to insurance focuses on you — you're at the forefront of everything we do. We provide customized coverage, ensuring you're well protected. With access to a variety of discounts and rewards programs, you have the potential to lower your rates without sacrificing the quality of your coverage or peace of mind.

Quality service

Amica, and our partner, Hiscox, are here for you and ready to assist with policy management, claims processing and more. Our dedicated support team has a long history of customer satisfaction, and we carefully choose our partners, which means you can expect assistance from knowledgeable representatives who understand your individual needs. Whether it's paying your bill or providing guidance on coverage options, Amica aims to deliver exceptional service at every touchpoint.

Reliable protection

Amica policyholders have access to a convenient online portal and mobile app, where they can access advanced tools and resources for proactive protection for a seamless insurance experience.

Common questions about small business insurance

Small business insurance costs vary. Factors like your industry (higher-risk industries cost more), location (rates differ by area), business size (more employees often mean higher premiums), past claims (previous claims can increase costs), and chosen coverage/deductibles (more coverage usually costs more) all play a role. The best way to determine your specific cost is to get a personalized quote.

While a sole proprietorship might seem simpler than other business structures, it doesn't offer the same liability protection as a limited liability company (LLC) or corporation. This means your personal assets are directly tied to your business, making them vulnerable in case of a lawsuit or other covered event. Business insurance can protect you from these financial risks, covering things like property damage, liability claims and lost income.

Even if your business is in an LLC, small business insurance is important to have. That’s because your LLC only protects your personal assets, and leaves your business assets exposed. Getting a business owner’s policy is a good start. Just like you decided to protect yourself with an LLC, you should also decide to protect your business with a small business insurance policy. 


Related insurance coverages


Customer service that earns loyalty

Empathy isn’t just a word — it’s woven into every interaction with our policyholders. Their stories are a testament to the trust and loyalty built over decades of compassionate service and support.

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Or call Hiscox at 800-591-9392

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