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Small Business Insurance in Mount Vernon WA & Skagit County WA

Your small businesses needs many types of coverage in order to adequately secure itself against losses in the event of certain common business casualties. Common elements of small business insurance include:

  • General Liability Insurance: This policy covers a business against claims arising from problems like libel, slander, medical expenses, property damage, medical expenses, and the cost of defending against a lawsuit.
  • Product Liability Insurance: If you deal with a product - whether it's manufacturing, retailing, wholesaling, or just distributing it - you may be responsible for keeping it (and people in the area around it) safe. The amount required depends mainly on the products involved - the larger and/or heavier the products are, the more coverage is needed.
  • Professional Liability Insurance: Similarly, if you provide any kind of professional service, you may need coverage for errors, malpractice, and negligence. Some companies are required to have this type of coverage (especially, though not exclusively, those in the medical field).
  • Commercial Property Insurance: If your small business owns any kind of physical property (an office, a retail store, a warehouse, etc.), this coverage insures it against a wide variety of natural and man-made forms of damage. If your business is particularly vulnerable to a certain type of damage (flooding, vandalism, etc.), you may need additional coverage for that specific problem.
  • Home-Based Insurance: If you're running a business from your home, then your homeowner's insurance probably doesn't cover any of your business operations. You may need to purchase additional coverage separately, or as an extension of your existing plan. Speak to a WAFD Insurance Group Inc. agents to find out.

Many other industry-specific forms of coverage are available. For more information about what policies are the most important for your business, talk to one of our agents and ask for a full risk assessment. You can research forms of insurance through reputable sources—this information is available for free online, courtesy of groups like the National Association of Insurance Commissioners.

Insurance Requirements for Small Business

All small businesses are required to have Workers' Compensation, Unemployment Insurance, and sometimes Disability Insurance. Other requirements for small business insurance vary by industry, as well as local, state, and federal law.

What constitutes a small business?

The exact definition of a small business varies by industry, but according to the Small Business Administration, it's usually 500 employees or less for mining or manufacturing, and $7.5 million or less in revenue for other industries. Note that there are many exceptions to this rule, and they are listed in detail on the Small Business Administration's website.

 

1. "Insure U Get Smart About Insurance." Accessed April 14, 2016. http://www.insureuonline.org/smallbusiness/.

2. "Insurance Requirements for Employers." The U.S. Small Business Administration | SBA.gov. Accessed April 14, 2016. https://www.sba.gov/managing-business/running-business/insurance/insurance-requirements-employers.

3. "Summary of Size Standards by Industry Sector" The U.S. Small Business Administration | SBA.gov. Accessed April 14, 2016. https://www.sba.gov/contracting/getting-started-contractor/make-sure-you-meet-sba-size-standards/summary-size-standards-industry-sector.

Federal income tax laws are complex and subject to change. Neither Nationwide nor its representatives give legal or tax advice. Please consult your attorney or tax advisor for answers to specific questions.

Our Locations

Mount Vernon Office

1503 Riverside Dr
Mount Vernon, WA 98273
Main office: 360-424-4559
Toll free: 800-562-2555

Adobe Insurance Agency (Truth or Consequences Office)

304 S. Foch St
Truth or Consequences, NM 87901
Main office: 575-894-2468

Arthur Insurance (Angel Fire Office)

3417 Hwy 434
Angel Fire, NM 87710
Main office: 575-377-2347

Arthur Insurance (Raton Office)

126 S. Third St
Raton, NM 87740
Main office: 575-445-5526

Boise Office

2304 N. Cole Rd Ste. C
Boise, ID 83704
Main office: 208-377-4433

BS&T Insurance

7906 Menual Blvd NE
Albuquerque, NM 87110
Main office: 505-369-1900

CAL/OR Insurance Specialists (Brookings Office)

16389 Highway 101 S
Brookings, OR 97415
Main office: 541-469-3510

Eugene Office

409 River Ave
Eugene, OR 97404
Main office: 541-687-1911

Homedale Office

9 East Idaho Ave
Homedale, ID 83628
Main office: 208-337-3161

La Pine Office

51535 S Huntington Rd
La Pine, OR 97739
Main office: 555-555-5555

Las Vegas Office

1880 Warm Springs Rd, Ste 140
Las Vegas, NV 89119
Main office: 702-798-6690

Montgomery Insurance Agency (Carlsbad Office)

203 W Mermod
Carlsbad, NM 88220
Main office: 575-725-2110

Pacific Insurance Partners (Forest Grove Office)

1909 Cedar St
Forest Grove, OR 97116
Main office: 503-357-7111

Seattle Office

611 S. Jackson St
Seattle, WA 98104
Main office: 360-424-4559
Toll free: 800-562-2555

Thomas & Associates Insurance Brokers (Stanwood Office)

9715 271st St NW
Stanwood, WA 98292
Main office: 360-629-2103

Tucumcari Office

214 Second St.
Tucumcari, NM 88401
Main office: 575-461-1623

WAFD Insurance (Albuquerque Office)

7906 Menual Blvd NE
Albuquerque, NM 87110
Main office: 505-369-1900

WAFD Insurance Corporate Office

620 Morris St.
La Conner, WA 98257
Main office: 360-424-4559, ext. 1000

Our Providers

Testimonials

“This agency is fast, friendly and easy to work with. I highly recommend them to everyone!”
Susan Brown, Henderson, NV