Small Business Hazard Insurance

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What Is Hazard Insurance for a Business?

business hazard insurance Business hazard insurance is a type of small business insurance that helps protect the owned or rented building your business is in. It also protects the equipment that you use to run your company. Another name for this coverage is business property insurance.
Hazard insurance can help cover the costs to repair or replace your:
  • Personal property
  • Tools and equipment
  • Inventory
  • Furniture
  • Computers
  • Accounts receivable
  • Valuable documents
  • Outdoor landscaping, like fences

Business Hazard Insurance and Homeowners Insurance

If you run your business out of your home, you may be wondering if there’s a difference between business hazard insurance vs. homeowners insurance. When it comes to homeowners coverage, hazard insurance applies to the home and other structures, like a shed or detached garage. Even if you had homeowners insurance for a home-based business, you’ll likely need business hazard insurance to help protect your company’s assets.

Do I Need Hazard Insurance for my Business?

Many states don’t require business owners to carry hazard insurance. But, it’s still a good idea to have this coverage to help protect your business’ property. Without it, you’d have to pay out of pocket for repair or replacement costs.

Hazard Insurance for an SBA Loan

The ongoing COVID-19 pandemic has affected millions of small businesses in the US. The Small Business Administration (SBA) offers an economic injury disaster loan (EIDL) to provide relief to small businesses that experienced a temporary loss of revenue due to COVID-19.
If COVID-19 impacted your business and you need assistance, you can check to see if you qualify for an EIDL. Make sure to read the requirements carefully. You may find that you need SBA loan insurance, like EIDL.
Visit the agency’s website to learn more about EIDLs, SBA hazard insurance requirements and to apply for a loan.

What Does Business Hazard Insurance Cover?

Hazard insurance helps cover property damage from:
  • Fire
  • Theft
  • Lightning
  • Wind
  • Natural disasters, like blizzards or hailstorms
If you can’t open your business because of covered property damage, hazard insurance can also help replace your lost income.

Get a Hazard Insurance Quote Today

We’re an insurance company with more than 200 years of experience. We have specialists that can help our customers address risks and challenges of all sizes. From our claims specialists, who can guide you through filing a claim, to our Complex Liability Solutions group that helps customers with higher hazards, we’re dedicated to addressing our customers’ unique needs.
Our hazard insurance provides broad coverage to help get your business back up and running after a covered loss. We can work with you to get hazard insurance or other types of business insurance that you may need.
Get a quote for hazard insurance today and find out how we can help protect your business.
The Hartford shall not be liable for any damages in connection with the use of any information provided on this page. Please consult with your insurance agent/broker or insurance company to determine specific coverage needs as this information is intended to be educational in nature.
The information contained on this page should not be construed as specific legal, HR, financial, or insurance advice and is not a guarantee of coverage. In the event of a loss or claim, coverage determinations will be subject to the policy language, and any potential claim payment will be determined following a claim investigation.
Certain coverages vary by state and may not be available to all businesses. All Hartford coverages and services described on this page may be offered by one or more of the property and casualty insurance company subsidiaries of The Hartford Financial Services Group, Inc. In TX, this insurance is written by Sentinel Insurance Company, Ltd., Hartford Casualty Insurance Company, Hartford Lloyd’s Insurance Company, Property and Casualty Insurance Company of Hartford, Hartford Underwriters Insurance Company, Twin City Fire Insurance Company, Hartford Accident and Indemnity Company and Hartford Fire Insurance Company. In Arizona, New Hampshire, Washington and California, the insurance is underwritten by Hartford Accident and Indemnity Company, Hartford Casualty Insurance Company, Hartford Fire Insurance Company, Hartford Insurance Company of Illinois, Hartford Insurance Company of the Midwest, Hartford Lloyd’s Insurance Company, Hartford Underwriters Insurance Company, Maxum Casualty Insurance Company, Maxum Indemnity Company, Navigators Insurance Company, Navigators Specialty Insurance Company, Pacific Insurance Company, Property and Casualty Insurance Company of Hartford, Sentinel Insurance Company, Ltd., Trumbull Insurance Company and Twin City Fire Insurance Company. The Hartford® is The Hartford Financial Services Group, Inc. and its subsidiaries, including Hartford Fire Insurance Company.
The Hartford® is The Hartford Financial Services Group, Inc. and its property and casualty subsidiaries, including Hartford Fire Insurance Company. Its headquarters is in Hartford, CT.
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