Overview of USAA Small Business Insurance
When it comes to business insurance, USAA has you covered. They offer tailored plans for small businesses at affordable rates.
Business Owner’s Policy (BOP)
A BOP bundles general liability, property, and business income insurance. It protects you if someone gets injured at your business or if your office equipment gets damaged. USAA’s BOP starts at $37/month.
General Liability Insurance
This covers you if someone sues your business for injuries or property damage. USAA’s general liability insurance starts at $23/month and includes $1 million in coverage.
Property Insurance
Property insurance protects your business assets like equipment, signs, and inventory in case of events like fire, theft, or natural disasters. Premiums start at $14/month for $10,000 in coverage. You can increase limits and add extras like business income insurance.
Commercial Auto Insurance
If your business owns vehicles, commercial auto insurance is a must. USAA offers coverage for business autos, trucks, and fleets. Premiums vary depending on factors like vehicle type, usage, and coverage limits.
Workers’ Compensation Insurance
Most states require businesses with employees to carry workers' comp insurance. USAA’s plans provide coverage for work-related injuries and lost wages.
Key Benefits of USAA Small Business Insurance Policies
USAA offers several types of small business insurance policies with valuable benefits for members.
1. Competitive Rates
As a member-owned association, USAA provides insurance at competitive prices. USAA does not have shareholders or sales commissions to pay, so they can return profits to members through lower premiums.
2. Top-Rated Service
USAA is renowned for providing superior customer service. They make it easy to get quotes, purchase policies, file claims, and get your questions answered.
3. Optional Coverages
In addition to basic liability and property insurance, USAA offers useful optional coverages for small businesses like:
Business interruption insurance: Covers loss of income if your business is shut down due to a covered event like a fire or natural disaster.
Data breach insurance: Helps cover costs related to a data breach like customer notification, credit monitoring, and legal fees.
Commercial auto insurance: Covers vehicles used for business purposes like trucks, vans, and employee vehicles.
Workers compensation: Provides wage replacement and medical benefits for employees who are injured on the job.
Professional liability insurance: Protects against claims of errors, omissions, negligence or misleading advice related to your business.
How to Get a Quote for USAA Small Business Insurance
To get a quote for USAA small business insurance, you'll need to provide some details about your company. Some of which includes:
1. Getting Started
Head to usaa.com and select the 'Business Insurance' option. Here, you'll enter information like your business name, address, and industry. USAA will then provide an initial quote based on the details you provide.
2. Choosing Your Coverages
Next, you'll choose which types of insurance you need. The major options for small businesses include:
General liability insurance protects your business from financial loss if you're sued due to injury or property damage.
Property insurance covers damage to your business property from events like fire, theft, or natural disasters.
Business vehicle insurance protects vehicles used for business purposes.
Professional liability insurance covers financial loss from lawsuits related to your professional services.
Workers' compensation insurance provides benefits for employees who are injured on the job.
3. Providing Business Details
USAA will then ask for specifics about your business like your payroll amount, vehicle details, business property value, and more. The more details you can provide, the more accurate your quote will be. USAA uses this information to determine your potential risks and set premium rates accordingly.
4. Getting Your Quote
After entering all your business details, USAA will generate a quote for you to review. You'll see the types and limits of coverage selected along with the annual or monthly premium for each. You can then choose to purchase the policy as-is, make changes to influence the premium, or compare with other providers.
Conclusion
USAA aims to make the quoting and purchasing process as simple as possible for small business owners. By providing accurate details about your specific business needs, you can get a customized insurance solution to properly protect your company's assets and future.
