Denver is a city of progressive thinking with access to arts and culture, professional sports and some of the world’s best ski mountains. The Mile High City continues to grow and it could be the perfect spot to nurture your small business.
Protect your Denver business venture with the right insurance. Get started now — take a look at Benzinga’s top picks for the best business insurance in Denver.
Best Business Insurance in Denver:
- Best Overall for Business Insurance: The Hartford
- Best for Tailored Coverage: Simply Business
- Best for Small Businesses: Progressive
- Best for Self-Employed: Hiscox
- Best for Small Business: biBerk
- Best for Workers’ Compensation: Travelers
Best Business Insurance Options in Denver
Your business needs insurance to cover costs associated with property or liability claims. An insurance policy is meant to protect you from the hit of paying these costs out-of-pocket.
Here are our recommendations for some of the best business insurance providers in Denver.
Best Overall for Business Insurance: The Hartford
The Hartford offers comprehensive business insurance options. You can find coverage for property damage, legal liability and employee-related risks. The Hartford is our pick for best overall business insurance because its business owner’s policy (BOP) simplifies 3 coverages into 1 policy.
The Hartford’s BOP bundles commercial property, general liability and business income coverages.
- Commercial property helps cover the cost to repair or replace your business’ physical location, tools, computers, inventory and accounts receivable.
- General liability protects from claims due to bodily injury, property damage and advertising mistakes.
- Business income insurance can help replace lost revenue if you can’t open your business after damage caused by burglaries, fires or destructive winds.
Most states require workers’ compensation insurance if you have employees. The Hartford also offers workers’ comp coverage if your employees have a work-related injury or illness.
Best for Tailored Coverage: Simply Business
- securely through Simply Business Insurance's websiteBest For:Tailored coverageRating:
Simply Business offers a comprehensive suite of business insurance that specializes in making it easy to insure your business.
Whether you’re looking for construction workers' insurance or insurance for your startup, Simply Business helps you find the right coverage at the right price.
Tell Simply Business a little bit about your business and you'll get almost-instantaneous affordable quotes from top insurance providers. You can look into workers’ comp insurance, business coverage, liability packages and more that will cover everyone on your team, and you can get covered in accordance with Colorado law without overspending.
Building your business is hard enough. Let Simply Business make it easier. Get a quote from Simply Business today.
Best for Small Businesses: Progressive
Progressive is a powerhouse when it comes to insuring businesses, especially small businesses.
They can help you choose a combination of business coverages. The minimum general liability coverage is available, but you can also tailor a custom combination to include commercial property, commercial auto, commercial umbrella and workers’ compensation.
Request a free quote from its home page.
Best for Self-Employed: Hiscox
Hiscox tailors business insurance policies so you get the coverage you need and nothing you don’t.
Its general business coverages include:
- General liability
- Professional liability
- Errors and omissions
- Business owners
- Workers’ compensation
Hiscox also offers a BOP — a business owners insurance policy that combines general liability insurance and property insurance. Hiscox warns that a general liability policy does not protect you when it comes to your own property. If you own your business property, consider a BOP.
You can request a free quote from the Hiscox website. You can also contact a licensed insurance agent at 866-283-7545 Monday through Friday from 7 a.m. to 10 p.m. EST.
Best for Small Business: biBerk
Businesses big and small need insurance and biBerk provides expertise in small business insurance. The company is a part of Warren Buffett’s Berkshire Hathaway insurance group. biBerk insures your business directly, so you can save up to 20% compared to other providers.
Choose from 7 different types of business insurance: workers’ compensation, property and liability, professional liability, commercial auto, general liability, umbrella and cyber insurance.
biBerk is a Better Business Bureau accredited provider with an A+ rating. Get a free quote online or call 844-472-0967 to get started.
Best for Workers’ Compensation: Travelers
More than 500,000 customers trust Travelers to provide worker’s compensation coverage.
Travelers provides workers’ comp insurance to small businesses, public entities, as well as oil and gas industries. It also offers risk management solutions, so you can avoid losses before they occur.
Other workers’ compensation-related products include dividend plans, captive programs, managed care plans, bundled and unbundled loss sensitive programs and drug-free safety credits.
Travelers business insurance policies are sold through independent agents. You can use its search tool to find an agency near you.
Types of Business Insurance
Here are the most common business insurance coverage options.
- General liability covers common risks, including customer property damage and injuries. Most commercial leases require this coverage. Libel and slander lawsuits are also included.
- Product liability protects businesses against the cost of a lawsuit if a customer claims a product the business manufactured or sold led to an injury or property damage.
- Commercial property protects your business’s physical assets from fire, explosions, burst pipes, storms, theft and vandalism. Earthquakes and floods typically aren’t covered by commercial property insurance. Separate policies are needed.
- Workers’ compensation is required for every business with employees. It covers medical costs for work-related injuries or illnesses. Policies can also provide protection against partial missed wages or lawsuits over employee injuries.
- Professional liability is also called errors and omission insurance. This coverage protects your business if your work depends on your expertise. It can also cover client lawsuits over errors and oversights, late or incomplete work and professional negligence lawsuits.
Cost of Business Insurance in Denver
The cost of your business insurance will vary. Premiums are based upon policy details, location, size, number of employees and your industry.
Most businesses have 3 essential coverages: general liability, business property and business income. These are often combined into a BOP.
The Hartford’s claims data reports the average cost of a small business insurance policy without building coverage is $1,172 per year. The mean price is $618 per year.
Savings can be available when you bundle policies, pay your premium upfront or implement safety measures to reduce risk.
Protect Your Business Today
Business insurance protects both you and your employees. It’s the 1st step in operating a sound small business.
Contact a few of our recommended providers to get a quote. You can also use our online tool — enter your ZIP code to get started today.