Insurance for Small Business Owners in Washington

Do You Need Small Business Insurance in Washington?

The lush Pacific Northwest is home to the great state of Washington. And people who flock to its mountains or its capital will find a variety of small businesses there to serve them--everything from pet and cleaning services to healthcare and real estate. The SBA states:

  • Washington is home to over 550,000 small businesses
  • Small businesses employ over 51% of Washington employees
  • And 29% of Washington businesses are minority-owned

And as large an impact as these small businesses have on the state’s economy, they are required to maintain certain business coverage. Unexpected events, like theft or a customer accident, as well as a data breach or delivery accident, may be claimed—depending on the coverages selected. We’ve done the research for you below.

Required Business Insurance Coverage in Washington

The State of Washington requires the following insurance coverage for small businesses:
  1. Commercial Auto Insurance.

    Commercial vehicles operated by businesses in Washington must have adequate automobile insurance coverage. Coverage should include bodily injury liability ($25,000 per person/$50,000 per accident) and property damage liability ($10,000 per accident).

  2. Workers’ Compensation Insurance.

    Washington small businesses are required to obtain Workers’ Compensation coverage. Typically, this covers the medical and legal costs for employees who are injured or become ill on the job. Without this coverage, your small business may be subject to hefty medical and legal bills to compensate an injured employee, as well as incur state fines. Note: This coverage must be purchased through Washington state.

Recommended Business Insurance Coverage in Washington

The following insurance coverage is recommended for Washington small businesses:
  1. Small Business Owner’s Insurance.

    This coverage combines property insurance and general liability insurance into a cost-effective coverage package referred to as a Business Owner’s Policy (or BOP). 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.

    Although included in a BOP policy, some small business owners may seek this out as a separate minimum coverage. General Liability may be required in the commercial property contract for leasing space, as it helps ease the financial burden associated with customer injury and property damage claims, as well as slander and libel lawsuits.

  3. Professional Liability Insurance.

    Commonly referred to as “errors and omissions insurance," Professional Liability coverage focuses on work mistakes and errors, missed deadlines, incomplete work and professional negligence lawsuits. This coverage is ideal for Washington small businesses providing expertise as a service, as it can protect them from related damage claims.

  4. Cyber Liability Insurance.

    In Washington, recommended cyber liability coverage can help businesses recover from such malicious hacking and cyberattacks by paying related customer notification and fraud monitoring costs, as well as associated legal fees. Even small businesses can experience a data breach or cyber attack, and this coverage also assists with associated system damage costs.

Our Small Business Insurance Company Is Here to Help

B2Z understands that insurance can be confusing, so we set out to make it understandable and easy to purchase.
  1. Q
    Does B2Z offer small business coverage in Washington?

    Yes. We currently offer Washington small business owners the following types of insurance policies:

  2. Q
    How do I get a quote for small business insurance in Washington?

    B2Z has made getting a quote easy: Answer a few questions about your business, choose your coverage, and validate your account and payment information. That’s it! Click the Get Your Quote button to get started.