Business Insurance Tempe, Arizona

There are numerous options to find coverage for business insurance in Tempe, AZ. You absolutely need insurance to protect your business from liability and accidents. This guide will help you choose the right coverage at an affordable price. 

According to data on the insurance industry, 75% of US businesses are underinsured, and 40% of small business owners have no protection whatsoever. 

A study conducted by Advisor Smith found that 75% of small businesses faced an insurable event in 2020. Use an online insurance provider to get a quote, find personalized insurance products, and easily file claims. 

Recommended: Estimate your premiums and coverage options in Arizona. Get a quote from a dedicated small business insurer.

What Insurance Do I Need for My Tempe Small Business?

With average premiums for general liability insurance in the United States at about $800/year, protecting your business can be affordable and a smart decision. 

Your premiums in Tempe, AZ will depend upon your industry, revenue, and risk. A brick-and-mortar business providing any kind of general product, services, or consulting could use a host of coverage options, such as general liability insurance for onsite accidents, commercial property insurance to protect against theft, or workers’ compensation to offer support in the event of workplace injuries.

Ecommerce businesses have unique needs and may be more concerned with data breaches or cybersecurity coverages. You can bundle most of these into a business owner’s policy (BOP).

Find the Right Coverage for Your Tempe Business

Next Insurance is a fully online provider dedicated to low-cost, high-protection coverage for small businesses. Get an accurate quote instantly.

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What Are the Different Types of Business Insurance?

Below are the most popular types of coverage that a small business in Tempe, AZ may need:

General Liability Insurance Tempe

General liability insurance is the most common type of business insurance, as it covers the most basic needs that are shared among all types of companies. Things like bodily injury on your business's property and physical damage caused by employees or employers are covered by this policy. 

Read our review on the best small business insurance providers to find suitable business insurance in Tempe, AZ.

Workers' Compensation Insurance Tempe

Workers' compensation insurance is meant to protect the interests of your employees if they are injured on the job. It can also protect your business from a lawsuit if that employee needs compensation for their injuries. Workers' comp is mandated for any company with employees in every state except Texas and South Dakota.

Recommended: Estimate your premiums and coverage options in Arizona. We recommend getting a quote from a dedicated online business insurance provider like Next Insurance.

Business Owner’s Policy Tempe

A business owner's policy is a bundle of insurance policies usually consisting of general liability, commercial property, and business interruption insurance. Since they are packaged and sold as one policy, this makes the administration of your protection simpler, and it may even come at a discounted rate.

How Much Is Business Insurance in Tempe, Arizona?

Making an informed decision to protect your business starts with estimating the cost of coverage, it takes less than five minutes to get a quote from our partner.

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Online Business Insurance vs. Traditional Insurance Agency in Tempe

Online insurance agencies generally provide comparable coverage to a traditional insurer at a lower price. As a result, a growing number of small businesses prefer to use online business providers to find personalized insurance products and save on costs. They offer other benefits as well:

We highly recommend using an online provider like Next Insurance for a number of reasons:

  • Mobile App: Easily access all your coverage provided and Certificate of Insurance (COI) through an app.
  • Personalized Coverage: Online insurance providers use AI and predictive data to provide customized insurance options tailored to the unique risks to your business.
  • Lower Premiums: Online insurance providers save on expenses by not having brick-and-mortar locations or full-time agents and pass on these savings to their customers through lower premiums. 
  • Quick Turnaround on Claims: You can file a claim online and receive a resolution, usually within 48 hours
  • Convenience: Save time by avoiding speaking to an agent on the phone, get a quote instantly and insure your business within 24 hours. 

Two Ways To Start Coverage

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Use our dedicated small business insurance provider to generate a quick and accurate online quote, specifically for your small business. 

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Representatives are online from 8:00 a.m.–8:00 p.m. ET, Monday–Saturday, to answer your questions and help you discover the best coverage. 

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Frequently Asked Questions

Do I really need business insurance?

A study conducted by Advisor Smith found that 75% of small businesses faced an insurable event in 2020. Because of this, it’s in your best interest to get insured. 

How much should business insurance cost?

The cost of business insurance for a small business is typically between $700 and $3,800 a year, but this depends greatly on what types of insurance your business needs, your industry and the risk associated with your state.

How do I get business insurance in Tempe?

An insurer like Next Insurance offers convenience and can get you an instant, online quote with your specific needs in mind or we recommend calling a local insurance agency as listed below in Tempe to discuss your unique needs.

What happens if I don’t have business insurance?

  1. In the event of any liability, such as property damage, client injury, data breaches, etc., you can be held responsible to pay in full any court-appointed charges, with no benefit payout to help cover the cost.
  2. Businesses may choose not to work with you, as they do not want to assume all of your risk on their own insurance policy.
  3. Depending on your business and jurisdiction, your state or local government may shut down your business if you do not satisfy their insurance requirements. In addition to this, you may be forced to pay a penalty.

Do I need business insurance if I’m a sole proprietorship?

Yes. Sole proprietorships, like other businesses, should get business insurance. 

Small Business Resources in Tempe, Arizona

Tempe Biz HUUB

Located in nearby Phoenix, the Tempe Biz HUUB provides resources for the small businesses of Tempe. Working with Tempe Biz HUUB provides small businesses with free learning opportunities and workshops, in addition to grant and funding opportunities.

Maricopa Community Colleges SBDC

The Maricopa Community Colleges Small Business Development Center (SBDC) provides the small businesses of Tempe with resources to help with economic growth. Small businesses with SBDC can obtain no-cost business advising sessions and low-cost workshops and training courses to help small businesses reach their potential. 

Tempe Chamber of Commerce

The Tempe Chamber of Commerce provides support to local businesses with enhanced marketing opportunities and visibility through local advertising and access to networking and training events to enable business growth.

Local First Arizona

The goal of Local First Arizona is to help small local businesses across Arizona thrive and grow. Associating with Local First Arizona provides small businesses with training on how to grow economically and become more resilient in addition to creating programs designed to help local businesses grow.

Local Insurance Agents in Tempe, Arizona

We have compiled a list of local insurance agencies in Tempe, AZ if you prefer to discuss your specific needs by speaking to an independent insurance agency or representative.

Mary Contreras - State Farm Insurance Agency

  • Google Rating: 4.6/5
  • 2145 East Warner Rd. #101, Tempe, AZ 85284
  • Monday–Friday, 9:00 a.m.–5:30 p.m. PT
  • 480-775-7788

AZ Insurance Team

  • Google Rating: 4.8/5
  • 442 East Southern Ave., Tempe, AZ 85282
  • Monday–Friday, 8:30 a.m.–5:00 p.m. PT
  • 480-535-5709

Rick West - State Farm Insurance Agent

  • Google Rating: 4.5/5
  • 20 East University Dr. Ste. 305, Tempe, AZ 85281
  • Monday–Friday, 9:00 a.m.–5:00 p.m. PT
  • 480-967-3378

Kristen Kruger - State Farm Insurance Agent

  • Google Rating: 4.2/5
  • 115 E. Baseline Rd. Ste. B1, Tempe, AZ 85283
  • Monday–Friday, 9:00 a.m.–5:30 p.m. PT
  • 480-777-0411

Hegarty Insurance Agency LLC

  • Google Rating: 5/5
  • 4535 South Lakeshore Dr. #3, Tempe, AZ 85282
  • Monday–Friday, 9:00 a.m.–5:00 p.m. PT
  • 480-590-0141

1st Insurance Group

  • Google Rating: 4.7/5
  • 2033 E. Warner Rd. Ste. 102, Tempe, AZ 85284
  • Monday–Friday, 9:00 a.m.–5:00 p.m. PT
  • 480-405-1218

RSP Insurance Specialists

  • Google Rating: 5/5
  • 2234 S. McClintock Dr., Tempe, AZ 85282
  • Monday–Friday, 9:00 a.m.–5:00 p.m. PT
  • 480-755-1543

Additional Resources on Starting and Growing a Small Business in Tempe, Arizona