Insurance for Small Business Owners in Arizona

Do You Need Small Business Insurance in Arizona?

Each year, thousands of visitors flock to Arizona to experience amazement at The Grand Canyon. And during their stay in The Copper State, they may patronize a few of the over 500,000 small businesses—specializing in everything from real estate to beauty services. And, according to the Small Business Advocacy Council:

  • Arizona small businesses employ nearly 45% of private workers or 1 million people 
  • Those businesses created almost 40,000 new jobs in year
  • Of the 500,000 small businesses in Arizona, over 135,000 are minority-owned

To protect these small businesses and the many economical benefits they contribute, Arizona both requires some insurance coverages (and recommends other types). More information on this can be found below.

Required Business Insurance Coverage in Arizona

The State of Arizona requires the following insurance coverage for small businesses:
  1. Commercial Auto Insurance.
    Arizona mandates automobile coverage, and for businesses, this means carrying minimum benefit amounts for bodily injury liability ($25,000 per person/$50,000 per accident) and for property damage liability ($15,000 per accident). 

  2. Workers’ Compensation Insurance.
    In Arizona, Workers’ Compensation insurance is a state requirement for businesses, and they must cover both full-and part-time employees. Typically this coverage extends to medical expenses related to employee injuries or illnesses that occur on-the-job.

Recommended Business Insurance Coverage in Arizona

The following insurance coverage is recommended for Arizona small businesses:
  1. Small Business Owner’s Insurance.
    A Business Owner’s Policy (or BOP) provides value to small businesses in Arizona by combining property insurance and general liability insurance into a cost-effective coverage package. The liability coverage typically extends to injury claims made by customers, and the property coverage extends to building, machinery, and personal property damage.

  2. General Liability Insurance.
    Many commercial leases in Arizona require that business owners purchase this standard type of policy. A general liability policy covers customer injuries that occur at your business, damage to customer property, and slander or libel lawsuits. General liability insurance policies are concerned with third-party incidents, injuries, and damage. 

  3. Professional Liability Insurance.
    General liability coverage can protect Arizona small businesses from the financial burden of paying costly customer injury and property damage claims, as well as slander and libel lawsuits. Also, commercial property leases may require this type of coverage.

  4. Cyber Liability Insurance.
    Should your small business experience a data breach, like a stolen hard drive with personal information about your customers or a system hack, cyber liability coverage can help cover customer notification, fraud monitoring, and associated legal costs stemming from such an occurrence.

Our Small Business Insurance Company Is Here to Help

  1. Q
    Does B2Z offer small business coverage in Arizona?
  2. Q
    How do I get a quote for small business insurance in Arizona?

    Answer a few questions about your business, choose your coverage, and validate your accountthe process is made to be simple! Click the Get Your Quote button to get started.