New Hampshire Business Insurance

Find the Best Business Insurance Options in New Hampshire

There are over 138,000 small businesses in New Hampshire, representing 99% of the businesses in the state. Small businesses employ nearly 50% of the workforce in New Hampshire, making small business an important driver of the state’s economy. 

Business owners of all sizes in New Hampshire face numerous risks, including property damage caused by crime, severe weather, fires, and natural disasters. And a liability claim or a lawsuit can lead to financial devastation that is difficult to overcome for any business. 

A comprehensive business insurance program can help you repair and rebuild damaged property after a disaster. And it can help you stay in business and pay for your defense if you are faced with a lawsuit.

An independent insurance agent can help you compare business insurance quotes in New Hampshire.

Best Business Insurance Companies in New Hampshire

The best business insurance companies in New Hampshire are highly rated for their mix of valuable coverage offerings and competitive pricing. 

• Nationwide: Nationwide provides business insurance and other popular types of insurance coverage in New Hampshire. The company is headquartered in Columbus, OH, and is represented by independent insurance agents in 50 states, including New Hampshire. 
• Liberty Mutual: Liberty Mutual is headquartered in Boston, MA, and has been offering business insurance since 1912. Today the company offers a flexible, multiline range of coverages designed to meet the needs of any business, regardless of size or industry. 
• EMC Insurance Companies: EMC is in the top 60 business insurance companies in the United States. The company specializes in designing well-rounded insurance programs to protect the financial assets of many types of businesses and organizations.
• Ohio Mutual Insurance Group: Ohio Mutual traces its roots to 1901 when the Ohio Mutual Tornado, Cyclone and Windstorm Insurance Association began providing insurance to property owners across Ohio. Based in Bucyrus, Ohio, today the company writes more than $200 million in premiums each year, covering homes, autos, farms, and commercial properties in seven states. 
• Progressive: Progressive is based in Ohio, but offers business insurance across all 50 states, including New Hampshire. New Hampshire business owners can look to Progressive for most of their business insurance needs.

An independent insurance agent in your area can help you learn more about these and other New Hampshire business insurance companies. A local agent can help you get competitive quotes for the coverage that fits your New Hampshire business insurance needs.

New Hampshire Business Insurance Requirements

Business insurance is a package of insurance policies that cover your property and liability risks. Business insurance is not required in New Hampshire, but if your business owns any vehicles, you likely have to buy commercial vehicle insurance that complies with the state’s car insurance laws.

In addition, every New Hampshire business that has any employees, full-time or part-time, is required to cover those employees with workers’ compensation insurance. Employers in certain industries may be exempt from this requirement. Workers’ compensation insurance pays for medical bills and lost wages for workers who are injured on the job. 

An independent insurance agent in your area can help you learn more about New Hampshire’s business insurance requirements. 

What Business Insurance Covers in New Hampshire

When you purchase business insurance in New Hampshire, you’ll be purchasing several individual policies or a package of policies designed for your industry. Business insurance in New Hampshire will typically include the following types of policies and coverage: 

• Commercial general liability insurance (CGL): Protects your business from lawsuits related to bodily injury and property damage claims. It pays for medical expenses, legal fees, and financial settlements or judgments. Your CGL policy even covers personal injury claims such as libel and slander.
• Commercial property insurance: This covers damage to a building and its contents if damaged by a weather event, fire, theft, vandalism, and other covered perils. 
• Business interruption coverage: Protects your earnings and pays certain expenses if your business cannot operate because of damage after a fire, hail, wind, equipment breakdown, or another covered event. If you are forced to close for a while to make repairs or rebuild your business, this coverage pays for rent, employee salaries, lost income, relocation fees, and more.
• Commercial auto insurance: Protects your business-owned cars and trucks from property damage and liability claims. 
• Workers’ compensation insurance: Pays for medical expenses and a portion of an employee's lost wages after a work-related injury. 

Your business insurance in New Hampshire may include additional coverage types or policies that cover your unique risks. 

Liability Coverage Options for Small Businesses in New Hampshire

Most small businesses would have a hard time recovering if they were faced with a lawsuit. Liability insurance can cover you when you’re accused of causing harm to an individual or another business. There a numerous liability coverage options for small businesses in New Hampshire. 

A commercial general liability (CGL) policy offers broad protection from lawsuits. It covers your legal costs, medical expenses and other damages for the injured party, and other expenses related to a liability claim against your business.

CGL policies do not protect you from every type of lawsuit. You likely need additional liability policies or endorsements that supplement your CGL policy and eliminate any gaps in your protection. 

Talk to an independent insurance agent about why you might need environmental liability insurance, professional liability insurance, cyber liability insurance, or other types of liability coverage for your New Hampshire business.

Property Coverage Options for Small Businesses in New Hampshire

Commercial property losses can originate in a variety of ways and cause tremendous financial harm to your business. You need these basic business property coverage options to help you repair or rebuild your physical losses, and even to compensate you for lost income while you recover after a covered property loss. 

Commercial property insurance protects you when your commercial property is damaged by someone else or by some type of unforeseen event like a fire or severe weather. You need business property insurance if you own your building or have tangible business assets (furniture, computers, fixtures, inventory, materials, tools, etc.). It helps you pay for repairs or to replace damaged or destroyed commercial property after a covered loss. 

Business interruption insurance is a separate coverage that is typically included as part of a commercial property policy. It is designed to protect your earnings if your business is unable to operate because of damage after a fire, hail, wind, equipment breakdown, or some other covered event. This means that if you’re forced to close your doors for some time in order to make repairs or rebuild, this coverage pays for rent, employee salaries, lost income, relocation fees, and more. 

A local independent insurance agent can help you get quotes for business property insurance in New Hampshire.

Other Insurance Options for Small Business Owners in New Hampshire

Most businesses in New Hampshire likely need more than just basic property and liability insurance. Other insurance options for small business owners in New Hampshire include:

• Business owners policy (BOP): A package policy that includes commercial liability insurance, commercial property insurance, and business interruption insurance. 
• Workers’ compensation insurance: Typically required for any business that has employees. It pays for lost income and medical expenses for employees that are injured on the job.
• Commercial vehicle insurance: Covers your vehicles and drivers in the event of an accident or other types of vehicle damage. 
• Cyber liability insurance: Provides coverage in the event of a data breach involving your business.
• Employment practices liability insurance: Protects you if an employee sues you for discriminatory employment practices. 
• Flood or hurricane insurance: Your basic commercial property policy does not cover flood or hurricane damage. Talk to your agent about flood and hurricane insurance if you live in an area that is prone to these events.
• Professional liability insurance: Protects you if a client claims you have been negligent in providing professional services.
• Commercial umbrella insurance: Provides excess liability coverage above and beyond the limits of your applicable underlying commercial liability policies. 

This is not an exhaustive list of your business insurance options in New Hampshire. An independent insurance agent can make sure that all of your New Hampshire business insurance needs are met. 

Average Cost of Business Insurance in New Hampshire

Every business is unique and there are many variables that contribute to the cost of business insurance, making it difficult to compute an average cost of business insurance in New Hampshire. Several factors, including the following, influence the cost of New Hampshire business insurance:

• The size and physical location of your business
• Your number of employees
• Your gross sales and payroll
• The nature of your business (What do you do?)
• The value of your physical assets (buildings, vehicles, machines, equipment, inventory, etc.)
• Your prior claims history
• The types and amounts of coverage that you need

An independent insurance agent can help you understand all the risks you face and get quotes for affordable business insurance in New Hampshire.

How Does Your New Hampshire Business Measure Up?

Number of businesses in the US: 30,819,176

Burglary rate per 1,000 residents in the US: 3.76

Auto theft rate per 1,000 vehicles in the US: 2.29

City	No. of businesses	Burglaries / 1,000 people	Auto thefts / 1,000 cars
Bedford	2,908	0.48	0.09
Concord	4,332	1.13	1.06
Derry	2,616	0.65	0.29
Dover	3,315	1.19	0.44
Keene	2,298	1.35	1
Manchester	8,497	2.65	1.36
Merrimack	2,179	0.81	0.35
Nashua	6,923	0.9	0.6
Portsmouth	3,946	1.28	1
Rochester	2,229	3.52	1.17
Salem	3,877	0.84	0.68

How Does Your New Hampshire City Measure Up?

Concord, NH Common Coverage Options

Property: Theft, vandalism, and accidental fires can lead to large, costly business property losses. So can damage caused by Concord’s weather events like hailstorms, high wind, and severe storms. Fortunately, when you have the right business insurance in place, your company will be able to repair damage and continue to function without experiencing a large financial loss. 

Commercial auto: Commercial auto insurance can protect your business from facing unmanageable liability damage if one of your drivers causes an accident in a company car. Rates are based on a number of factors, like the types of vehicles you are covering. It costs far more to insure a 12-passenger van than a cargo van since your liability risks are greater when you have passengers. 

Workers’ compensation: Workers’ compensation insurance is designed to cover the cost of medical treatment, lost wages, and other expenses related to injuries or illnesses your employees may suffer while doing their jobs. It is required for all New Hampshire businesses that have employees. Workers' compensation rates are assigned according to your company’s overall payroll and the types of jobs your employees do.

Rates can vary within these industries according to the actual jobs your employees do. The cost of covering employees in manufacturing jobs can vary from the average amount according to the type of manufacturing plant you own because some machines are more dangerous than others. Likewise, in the healthcare field, medical workers at a trauma unit have a higher risk of injury than those who work at a pediatric office. 

Derry, NH Common Coverage Options

Property: A sufficient amount of business property insurance can shield your company from losses related to hazards like accidental fires, property crimes, and severe weather events like high wind and freezing temperatures. 

Commercial auto: You can't control other drivers, let alone criminals who may decide to break into your company car. If your Derry business owns a vehicle or fleet of vehicles, you may want to strongly consider carrying commercial auto insurance. Rates for coverage can vary according to the number and types of vehicles you are covering, as well as the risk of collisions and vehicle theft where your employees will be driving.

Workers’ compensation: Workers’ compensation insurance covers medical expenses and paid time off for employees who are injured or become ill on the job. If your Derry business has employees, you are required by law to have this insurance. Rates for coverage can vary significantly from one business to the next, depending on the types of jobs your employees do and your company’s overall payroll. 

The construction industry has some of the highest rates of significant employee injuries. That is why the average cost for coverage is so much higher than it is for workers in the retail industry. Maintaining a safe work environment can help to keep your workers' compensation rates affordable.

Dover, NH Common Coverage Options

Property: Your business has probably invested a lot in its assets, such as computers, furniture, tools, and supplies. Business property insurance can help cover the cost of repairing or replacing this property if it is lost or damaged by a covered event.

Commercial auto: Many businesses in Dover have company-owned vehicles. If yours is among them, you may want to strongly consider insuring these cars, vans, or trucks with a commercial auto insurance policy. Doing so can prevent your business from facing a financially devastating lawsuit if one of your drivers causes a serious accident. 

Workers’ compensation: Workers’ compensation insurance covers medical bills and lost wages for workers who are injured in the course of doing their jobs. It is required for New Hampshire businesses that have employees. Rates for this coverage are assigned according to your company’s overall payroll amount and the types of jobs your workers do.

Base rates are set by the state in accordance with the various hazards of each particular job. This means that employees in hazardous professions like manufacturing will cost more to cover than those with few risks, like cashiers. Maintaining a safe workplace and keeping accidents at a minimum can help lower your workers’ compensation premium. 

Manchester, NH Common Coverage Options

Property: Though lower than the national average, the property crime rate in Manchester is higher than throughout much of the state. This makes it particularly important for you to ensure that business assets are sufficiently covered. In addition to covering against crime, your policy can also cover loss and damage due to hazards like inclement weather and accidental fires.

Commercial auto: If your business owns a vehicle or a fleet of vehicles, you may benefit from having the added liability coverage that comes with a commercial auto insurance policy. Your rates will be based on several factors, including the number and types of vehicles you are covering and the risk of collisions and vehicle theft in your city.

Workers’ compensation: Workers’ compensation insurance can pay for medical bills and lost wages if your workers are injured or become ill on the job. Rates are based on your company’s overall payroll and the potential risks faced by your employees according to their job classifications. 

Some retail jobs, such as those at gas stations and convenience stores, carry more risks than others, such as those at dress shops. Likewise, the rate you would pay for workers in a manufacturing plant would be based on the specifics of what your company produces. 

Nashua, NH Common Coverage Options

Property: In addition to damage caused by severe weather events, property crimes like theft and arson can lead to expensive losses if you do not have sufficient business insurance. You will want to be sure that all of your business property is covered at levels that will allow you to rebuild, repair, or replace as needed.

Commercial auto: Whether you are insuring a delivery van or a fleet of semi-trucks, opting to purchase commercial vehicle insurance can protect your company against losses related to liability risks and property damage. 

Workers’ compensation: Workers’ compensation insurance is required if your Nashua business has employees. This insurance can cover medical treatment, lost wages, and other costs associated with workplace injuries. Every workplace has unique risks and presents different hazards to its workers. That is why workers' compensation rates often vary significantly from one business to the next.

Even within these industries, there can be wide variance in rates depending on the specific jobs done by your employees and the risks associated with them. 

Popular Questions About Business Insurance in New Hampshire