Business Insurance Washington D.C.
There are numerous options to find coverage for business insurance in Washington D.C. 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 Washington D.C. Get a quote from a dedicated small business insurer.
What Insurance Do I Need for My Washington D.C. 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 Washington D.C. 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 Washington D.C. Business
Next Insurance is a fully online provider dedicated to low-cost, high-protection coverage for small businesses. Get an accurate quote instantly.
What Are the Different Types of Business Insurance?
Below are the most popular types of coverage that a small business in Washington D.C. may need:
General Liability Insurance Washington D.C.
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 Washington D.C.
Workers' Compensation Insurance Washington D.C.
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 Washington D.C. We recommend getting a quote from a dedicated online business insurance provider like Next Insurance.
Business Owner’s Policy Washington D.C.
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 Washington D.C.?
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.
Online Business Insurance vs. Traditional Insurance Agency in Washington D.C.
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
Compare Quotes Online
Use our dedicated small business insurance provider to generate a quick and accurate online quote, specifically for your small business.
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Speak With an Insurance Representative
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
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.
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 area.
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 Washington D.C. to discuss your unique needs.
- 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.
- Businesses may choose not to work with you, as they do not want to assume all of your risk on their own insurance policy.
- 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.
Yes. Sole proprietorships, like other businesses, should get business insurance.
Small Business Resources in Washington D.C.
Anacostia Economic Development Corporation
Entrepreneurs go to the Anacostia Economic Development Corporation (AEDC) to receive personalized one-on-one counseling where they can also attend workshops as well as get assistance in developing a thorough and effective business plan. Whether you're a seasoned business owner or just getting started, AEDC has resources for you.
- 1800 Martin Luther King Jr. Ave. SE Ste. 100, Washington, DC 20020
- 202-889-5100
Development Corporation of Columbia Heights
The Development Corporation of Columbia Heights (DCCH) is a powerful resource for entrepreneurs who don't yet have a clear idea of what their business is but are ready to join the DC business ecosystem and get their business plan up and running.
- 2604 Georgia Ave. NW, Washington, DC 20001
- 202-483-4986
Inclusive Innovation Incubator
The Inclusive Innovation Incubator (IN3DC) is a specialized organization keen on assisting Black and underserved communities in the DC area. They provide rentable office and desk space, as well as mentorship programs. They offer members various workshops and classes that are geared to educate entrepreneurs about starting a business — soft skills, coding, marketing, and networking, to name just a few.
- 2301-D Georgia Ave., Washington, DC 20001
- 202-407-7300
- info@in3dc.com
Coalition for Nonprofit Housing & Economic Development
The Coalition for Nonprofit Housing & Economic Development (CNHED) supports DC entrepreneurs through a variety of unique programs. One in particular is the ELEVATE program, which stands for “Executive Leadership Education Venture Advancing Talented Entrepreneurs.” As the name suggests, this resource gives minority-led small businesses a place to learn how to manage their companies, increase their revenue, and scale their operations.
- 727 15th St. NW Ste. 600, Washington, DC 20005
- 202-803-5400
- info@cnhed.org
Local Insurance Agents in Washington D.C.
We have compiled a list of local insurance agencies in Washington D.C. if you prefer to discuss your specific needs by speaking to an independent insurance agency or representative.
Pie Insurance
- Google Rating: 3/5
- 1615 L St. NW Ste. 620, Washington, DC 20036
- Monday–Friday, 9:00 a.m.–9:00 p.m. ET
- 855-705-2716
Alliance Insurance Services
- Google Rating: 4.5/5
- 1660 L St. NW #210, Washington, DC 20036
- Monday–Friday, 8:30 a.m.–5:00 p.m. ET
- 202-638-1010
Crystal Insurance Group, Inc.
- Google Rating: 4.3/5
- 1801 Belmont Rd. NW #201, Washington, DC 20009
- Monday–Friday, 8:00 a.m.–4:30 p.m. ET
- 202-393-7755
HWP Insurance
- Google Rating: 4.8/5
- 80 M St, SE Ste. 350, Washington, DC 20003
- Monday–Friday, 8:30 a.m.–4:30 p.m. ET
- 202-331-9200
Rust Insurance Agency, LLC
- Google Rating: 4.5/5
- 1510 H St. NW Fifth Fl., Washington, DC 20005
- Monday–Friday, 8:30 a.m.–4:30 p.m. ET
- 202-776-5013
Brown Insurance and Financial Services
- Google Rating: 3.9/5
- 1200 G St. SE A, Washington, DC 20003
- Monday–Friday, 9:00 a.m.–5:30 p.m. ET
- 202-546-1493
Waymon Lynch Insurance Agency
- Google Rating: 3.5/5
- 3016 14th St. NW, Washington, DC 20009
- Monday–Friday, 9:00 a.m.–6:00 p.m. ET
- 202-462-9243
Additional Resources on Starting and Growing a Small Business in Washington, DC
Why You Need a Business Bank Account