If you’re a small business owner in the beautiful “Granite State,” you have a lot to think about every day, from marketing strategies to customer satisfaction to innovative hiring practices. Now, you’ve got one more thing on your mind: business insurance.

It’s not the most glamorous part of owning a business, but it’s one of the most important—after all, the state motto, “Live Free or Die,” might actually be referring to insurance (shhh, just go with it). With the right coverage, you can go about your work with peace of mind. In other words, you can “Live Free.”

What business insurance am I required to get in New Hampshire?

New Hampshire workers’ compensation insurance

All employers in New Hampshire with one or more employees are legally required to have workers’ compensation insurance. Workers’ compensation insurance exists to safeguard employees from financial impact related to injuries or illnesses sustained on the job. As a business owner, it also protects you from liability related to employee injuries. Workers’ compensation covers expenses and lost wages caused by the following:

  • Work-related accidents and injuries, such as repetitive stress injury, and resulting disability
  • Illnesses caused by or related to employment

New Hampshire auto liability insurance

New Hampshire is a little different from other states in that it doesn’t require you to carry auto liability insurance. However, if you are involved in an accident or cited for certain traffic violations, you’ll need to have proof of coverage within 10 days. In other words, you don’t have to carry auto liability insurance, but you most definitely should.

Auto liability insurance can protect you and your business from the financial consequences of the following types of third-party claims resulting from auto accidents involving your vehicle:

Bodily injury – If you get into an accident and the driver or a passenger of the other vehicle is injured, your auto bodily injury liability insurance covers the costs arising out of bodily injury, including medical expenses and death benefits.

Property damage – In the above scenario, it’s extremely likely the other car sustained some damage as well. Your auto policy’s property damage liability coverage insures the cost to repair or replace the other party’s vehicle.

Also, depending on the use of your vehicle, the kind of vehicle or if your vehicle is registered or titled under your business name, you may need a commercial auto insurance policy to secure the appropriate coverage and vehicle registration, and avoid penalties.

What other types of business insurance are recommended for New Hampshire?

New Hampshire general liability insurance

General liability insurance (also known as CGL—for commercial general liability) is one of the most essential and effective ways to safeguard your business. It protects your business from the financial consequences resulting from liability related to third-party non-employee bodily injury or third party property damage that arises from your business operations. It also provides coverage for personal and advertising injury. Without general liability insurance coverage, you could be in financial trouble in the event of an unfortunate accident involving a customer or other third party.

New Hampshire professional liability insurance

If you provide professional services and your advice is alleged to have led to one of your clients suffering a financial loss, professional liability insurance can help. When a former customer or client claims—rightly or wrongly—that a mistake in your work led them to suffer a financial loss, professional liability insurance provides you with investigation and defense of the claim as well as making payments of any settlements or judgments.

Inland marine insurance

Inland marine insurance is designed to protect that vital equipment you use to make your business run smoothly. It protects your business by covering costs associated with accidentally damaged, lost or stolen equipment that is on the go with you. Whether you have an expensive tool collection, pricey construction materials, or other equipment you transport to a job site, having inland marine insurance is a no-brainer.

Commercial property insurance

Commercial property insurance protects your company’s building and the contents inside it from all kinds of risks of physical loss or damage, including theft, vandalism, fires and natural disasters such as floods, storms or earthquakes. Commercial property insurance is often included as part of a Business Owners’ Insurance Policy, or BOP.

Professions covered in New Hampshire

No matter what your business is, if you’re in New Hampshire, you’ll benefit from being insured. If a non-employee slips and falls due to a workplace hazard or you accidentally damage a client’s property while working in their home, the last thing you need is to pay out-of-pocket for damages. Here are some typical businesses that can be covered by New Hampshire business insurance:

Professions covered in New Hampshire

Cost of business insurance in New Hampshire

At Thimble, the cost of your business insurance depends on a variety of factors. The amount of risk involved in your business, the industry you’re in, and the amount of business you do all play a part in determining your policy premium.

Another important factor is your location. A more populated area like Manchester might have higher premiums on average than less populated locations like Londonderry or Merrimack.

Finally, Thimble will look at factors such as your crew size, coverage amount and the number of years you’ve been in business before determining how much your premium will be.

Median New Hampshire insurance costs

Coverage Period

By the hour

By the day

By the Week

By the month

Median Cost

$12.02

$17.88

$73.91

$71.20

Top cities for businesses in New Hampshire

  • Concord
  • Derry
  • Dover
  • Hudson
  • Londonderry
  • Manchester
  • Merrimack
  • Nashua
  • Rochester
  • Salem

Bottom line: New Hampshire business insurance

The Granite State is a unique place. It has the warm, community-centric New England vibe with a healthy spirit of independence and self-reliance. If starting a business in New Hampshire is on your radar, make sure you put securing the proper business insurance at the top of your list. Getting the right coverage means you can focus on growing your company without worrying about expensive insurance claims.

Even if you’re just starting up, you can find New Hampshire business insurance coverage that’s right for you. Through Thimble, you can get a quote for your general liability insurance, professional liability insurance or Business Equipment Protection in less than a minute and if you decide to buy, you’ll be able to access your policy and Certificates of Insurance (COIs) in your inbox instantly.