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Business Insurance in Colorado: Understand Coverage And Get A Quote
Running a Colorado business without enough insurance puts everything you’ve worked for at risk.
Lawsuits, property damage, worker injuries, and other costly problems can happen to any company.
But finding business insurance takes time away from growing your venture. The various options seem complicated when you’d rather focus on your specialty.
Luckily, The Allen Thomas Group makes comprehensive Colorado business insurance simple.
For over 20 years, our independent brokers have customized coverage for companies across the state. We take the confusion out of insurance so you safeguard what matters most.
Our experts get to know your business and goals firsthand. Then we recommend flexible policies tailored to your actual risks and needs.
You get the right protection so you can confidently move ahead. We see you as a partner – your success is our shared reward.
Don’t lose what you’ve built by going uninsured. The Allen Thomas Group uses decades of localized experience to simplify Colorado commercial insurance.
Contact us to discuss your unique situation and get covered the right way today.
Table of Contents
What Business Insurance is Required in Colorado?
Colorado requires all companies to carry workers’ compensation insurance. This covers employees if they get hurt at work.
Specifically, workers’ comp pays for medical treatment of any work-related injury or illness. It also gives partial income replacement if an employee must miss work to recover. These quick benefits help injured staff get back on their feet.
By law, employers must pay 100% of workers’ compensation premiums in Colorado. This insurance protects both them and their workers. It ensures hurt employees promptly get covered care without having to sue the company. Workers’ comp also means owners avoid pricey legal claims.
The Allen Thomas Group helps Colorado businesses make sense of state rules. We then customize affordable workers’ compensation policies to legally cover business owners’ greatest asset – their people. Contact us to easily provide this essential protection.
Types of Insurance Coverage We Offer Colorado Business Owners At The Allen Thomas Group
Protects against: Third-party bodily injury, property damage, and personal injury (libel, slander).
Cost: Varies based on industry, size, and risk factors. Average annual premium in Colorado: $400-$1,500.
Colorado-specific: Consider additional coverage for winter snow events and potential hailstorms.
Protects against: Financial losses from errors, omissions, or negligence in professional services.
Cost: Varies based on profession and risk factors. Average annual premium for doctors in Colorado: $1,500-$4,000.
Colorado-specific: Important for professionals like engineers, architects, and financial advisors facing potential lawsuits.
Protects against: Combinations of CGL, property, and business interruption insurance in one package.
Cost: Varies based on coverage options and risk factors. Average annual premium in Colorado: $800-$2,500.
Colorado-specific: Ideal for small businesses with basic insurance needs, especially in high-traffic areas like ski resorts.
Protects against: Personal liability of directors and officers for company decisions or actions.
Cost: Varies based on company size and industry. Average annual premium in Colorado: $3,000-$15,000.
Colorado-specific: Particularly relevant for businesses in highly regulated industries like technology or cannabis.
Similar to Professional Liability, but: Focuses on financial losses from unintentional errors or omissions.
Cost: Varies based on industry and risk factors. Average annual premium for real estate agents in Colorado: $800-$2,500.
Colorado-specific: Consider additional coverage for cyber liability threats as cybercrime rates are increasing in the state.
Protects against: Financial losses from data breaches, cyberattacks, and privacy violations.
Cost: Varies based on data size, industry, and security measures. Average annual premium in Colorado: $800-$4,000.
Colorado-specific: Increasingly important with rising cybercrime rates in the state and stricter data privacy regulations like the Colorado Privacy Act (CPA).
Mandatory in Colorado for businesses with employees: Covers medical expenses and lost wages for work-related injuries and illnesses.
Cost: Determined by state-calculated payroll classifications and risk factors. Average annual premium in Colorado can range significantly.
Colorado-specific: Employers who neglect to have this coverage face significant fines and penalties.
Provides liability and physical damage coverage for business vehicles.
Cost: Varies based on vehicle type, driving history, and mileage. Average annual premium in Colorado for a delivery truck: $1,500-$4,000.
Colorado-specific: Required for any vehicle used for business purposes, with harsher penalties for driving without insurance.
Protects business property from physical damage due to fire, theft, weather events, etc.
Cost: Varies based on property value, construction type, and location. Average annual premium in Colorado for a restaurant: $1,000-$3,000.
Colorado-specific: Consider additional coverage for hailstorms, which are prevalent in certain areas of the state.
Provides excess liability coverage above other policies, protecting against catastrophic claims.
Cost: Varies based on underlying insurance limits and desired coverage amount. Average annual premium in Colorado: $600-$1,400.
Colorado-specific: Valuable for mitigating risk from high-liability lawsuits.
Protects against: Financial losses if your product causes injury or damage to consumers.
Cost: Varies based on product type, sales volume, and risk factors. Average annual premium in Colorado for a furniture manufacturer: $1,500-$4,000.
Colorado-specific: Strict product liability laws in Colorado necessitate this coverage for any business producing or selling physical goods. Consider additional coverage for winter-related product risks like injuries caused by slipping on icy surfaces.
Protects against: Legal liability resulting from alcohol-related incidents at your business.
Cost: Varies based on establishment type, liquor service volume, and location. Average annual premium in Colorado for a bar: $4,000-$8,000.
Colorado-specific: Mandatory for businesses serving alcohol in Colorado, with specific regulations and license requirements. The Allen Thomas Group can help navigate these complexities.
Covers specific types of valuable property, such as mobile equipment, inventory in transit, and fine arts.
Cost: Varies based on type and value of covered property. Average annual premium in Colorado for a construction company’s tools: $800-$2,000.
Colorado-specific: Ideal for businesses with valuable mobile assets used in winter conditions or outdoor environments.
Protects against: Financial losses from allegations of mismanagement, breach of fiduciary duty, or employment practices errors by company executives.
Cost: Varies based on company size, industry, and risk factors. Average annual premium in Colorado for a tech startup: $4,000-$12,000.
Colorado-specific: Increasingly important with rising shareholder activism and regulatory scrutiny, especially in emerging industries like cannabis or tech.
Combines various essential coverages, like CGL, property, and professional liability, into one package for solopreneurs and freelancers.
Cost: Varies based on coverage options and risk factors. Average annual premium in Colorado for a freelance graphic designer: $800-$1,500.
Colorado-specific: Tailored solution for individual business owners who lack employee coverage needs. The Allen Thomas Group can help choose the ideal package for your Colorado-based solo business.
Protects against: Physical damage to property under construction or renovation due to fire, theft, weather events, etc.
Cost: Varies based on project value, construction type, and duration. Average annual premium in Colorado for a mid-size residential construction project: $1,500-$4,000.
Colorado-specific: Particularly important due to potential winter weather challenges like heavy snow accumulation or storms impacting projects.
Covers: Physical damage, theft, or breakdown of specialized tools and equipment used by contractors.
Cost: Varies based on equipment value and risk factors. Average annual premium in Colorado for a plumbing contractor’s tools: $800-$1,500.
Colorado-specific: With Colorado’s thriving construction industry, contractors need this coverage to protect their vital assets, especially during harsh winter months.
Protects against: Legal costs and damages from employee claims like discrimination, harassment, wrongful termination, and retaliation.
Cost: Varies based on company size, industry, and risk factors. Average annual premium in Colorado for a tech startup: $4,000-$12,000.
Colorado-specific: High employee protection laws in Colorado make EPLI essential for many businesses. The Allen Thomas Group can guide employers through Colorado-specific legal considerations.
Covers: Lost income and operating expenses during a business closure due to covered events like fire, snowstorms, or power outages.
Cost: Varies based on revenue, expected downtime, and chosen coverage. Average annual premium in Colorado for a restaurant: $1,000-$3,000.
Colorado-specific: Consider additional coverage for winter-related interruptions like snow shutdowns impacting tourism or hospitality businesses.
Provides: Replacement income to cover ongoing fixed expenses like rent, utilities, and salaries while a business owner recovers from an illness or injury.
Cost: Varies based on monthly expenses, coverage period, and owner’s age. Average annual premium in Colorado for a small business owner: $800-$1,500.
Colorado-specific: Crucial for self-employed individuals or key employees in Colorado small businesses to ensure financial stability during unexpected events, even during winter illnesses or injuries.
Protects against: Costs associated with environmental contamination or pollution cleanup at your business property or surrounding areas.
Cost: Varies based on industry, pollution potential, and risk factors. Average annual premium in Colorado for a manufacturing facility: $4,000-$15,000.
Colorado-specific: Stringent environmental regulations in Colorado make this coverage important for certain industries. The Allen Thomas Group can help navigate complex environmental compliance requirements in Colorado.
Running a business in Colorado means taking advantage of its breathtaking landscapes and vibrant communities while managing unique risks like snowstorms and wildfires, shifting regulations, and liability concerns.
Searching for an insurance provider can seem like climbing Everest; that’s where The Allen Thomas Group comes in.
Why Colorado business owners trust us:
1. Deep Colorado Expertise: For over two decades we’ve been protecting Colorado businesses, offering protection tailored to your industry and location’s specific hazards and regulations – be they winter weather challenges or mountain terrain obstacles. We tailor coverage accordingly!
2. Colorado Independent Agency Advantage: As we’re independent agents, we have the freedom to compare policies from top national and regional carriers to find you the ideal combination of coverage, price, and service tailored to Colorado-specific needs.
3. Colorado-Focused Advocacy: We take an active part in Colorado business life by joining local organizations and events, representing you at meetings with you directly, understanding your concerns, and supporting their success, rather than simply providing generic insurance solutions.
4. Proactive Risk Management: At CBA Insurance Partners we go far beyond selling policies; we act as your insurance partners. We’ll evaluate your individual risks, work together to develop the perfect plan and be there for you at every turn – from claims processing to renewals and beyond. Plus we will keep you up-to-date on any updates or adjustments which might impact your business in Colorado’s ever-evolving environment.
5. Claims Expertise: Should an unfortunate claim occur, we’re your fierce advocate. We will navigate the complexities of the claims process on your behalf, oversee all paperwork requirements, and ensure you receive fair and timely compensation – alleviating stress in unexpected situations even during harsh winter months.
6. Competitive Rates: Thanks to our vast network and negotiation power, we negotiate competitive rates for Colorado clients – giving them confidence they’re getting the best value from their insurance dollar without having to compromise essential coverage.
7. Trustworthy and Open Communication: At Colorado Business Advisors, we pride ourselves in building long-term relationships founded on trust and open communications. When providing recommendations for your Colorado business, we’re upfront and honest in discussing its options and any recommendations made; helping ensure informed decisions.
Tailored Insurance Solutions Built For Your Colorado Company
We know how frustrating and complex the process of finding the right business insurance can be and how it slows down your ability to care for your customers. Let us help craft a policy that works for you.
Tell us about your specific needs and we will find the right policy for you.
Review the results of our search.
We will walk you through your new policy step by step.
Our Commercial Insurance Carrier Partners
That allows us to find the best rates for you
Start Your Free Insurance Quote For Your Colorado Business Now!
Securing your Colorado company starts with an open conversation about your needs. The Allen Thomas Group simplifies the insurance process with decades of localized experience.
Our independent agents provide customized coverage options to match your venture’s risks. We would be happy to provide a free quote showing competitive policies to protect what you have built.
Want to safeguard your business the easy way?
Call our Colorado experts at (440) 826-3676 to discuss your situation and get a free insurance review today. We make sure you understand all your coverage options so you can operate with confidence. Don’t take chances – let The Allen Thomas Group deliver comprehensive business insurance done right.
Rest easier knowing your assets and livelihood are truly protected.
Get More Insights On Making The Right Insurance Decision For Your Company
Which insurance is required in Colorado?
Colorado requires employers with employees to carry workers’ compensation insurance as a requirement of doing business, covering medical costs and lost wages from work-related injuries or illnesses that arise as a result.
Additional coverage such as general liability or commercial property policies are highly recommended but not legally mandated for every business.
Depending on your industry, regulations or license agreements, additional insurance might be needed in order to meet legal obligations and comply with legal obligations.
What is General Liability Insurance Colorado?
General liability (CGL) coverage provides Colorado businesses with protection from third-party bodily injury, property damage and personal injury (libel/slander).
This coverage is especially essential in Colorado due to the potential winter-related incidents such as slip-and-falls on icy sidewalks or product liability claims for snow sports equipment injuries.
How much does liability insurance in Colorado cost?
Liability insurance costs in Colorado vary significantly based on several factors:
Industry: High-risk industries like construction may pay more than office-based businesses for coverage, and Business Size: Larger organizations generally cost more for liability protection.
Risk Factors: Claims history, safety record and specific coverage choices all play a part in determining premiums for general liability insurance in Colorado.
On average, annual premiums can range between $400-$1,500 for small businesses with minimal risk factors.
Mid-sized businesses with moderate risk factors will typically pay between $1,500-$4,000 annually in insurance costs.
Expect to spend between $4,000-$10,000 for larger businesses with high risk factors. Keep in mind these are estimates; to get a tailored quote tailored specifically to your Colorado business and risk profile from The Allen Thomas Group is essential in order to secure appropriate coverage at a cost-effective price.
What states do you provide business insurance in?
- Alabama
- Arizona
- California
- Colorado
- Connecticut
- Georgia
- Illinois
- Indiana
- Kentucky
- Michigan
- New York
- North Carolina
- Ohio
- Pennsylvania
- South Carolina
- Tennessee
- Virginia
Our Colorado Commercial Insurance Agents Build Custom Policies To Protect The Following Industries
Colorado Areas We Serve
Alamosa
Applewood
Aspen
Avon
Battlement Mesa
Berkley
Berthoud
Black Forest
Brush
Cañon City
Carbondale
Castle Pines
Cherry Creek
Cherry Hills Village
Cimarron Hills
Clifton
Columbine
Cortez
Craig
Dacono
Delta
Derby
Dove Valley
Durango
Eagle
Eaton
Edgewater
Edwards
Erie
Estes Park
Evans
Evergreen
Fairmount
Federal Heights
Firestone
Fort Carson
Fort Lupton
Fort Morgan
Frederick
Fruita
Fruitvale
Glendale
Gleneagle
Glenwood Springs
Golden
Greenwood Village
Gunbarrel
Gunnison
Gypsum
Johnstown
La Junta
Lamar
Lochbuie
Lone Tree
Louisville
Manitou Springs
Milliken
Montrose
Monument
New Castle
Orchard Mesa
Pueblo West
Redlands
Rifle
Roxborough Park
Salida
Severance
Shaw Heights
Sheridan
Sherrelwood
Steamboat Springs
Sterling
Stonegate
Stratmoor
Superior
The Pinery
Trinidad
Twin Lakes
Vail
Welby
Wellington
Windsor
Woodland Park
Woodmoor
