Skip to main content
  • Claims Center
  • Contact Us
  • Español
  • Brokers & Agents
Hiscox Insurance
Menu Toggle
  • Home
  • Small Business Insurance Small Business Insurance Toggle Menu
    Protect your business, plan for the unexpected, and help your business grow.
    • Top Coverages

      • General Liability Insurance

        The basic protection for claims against your business.

      • Errors and Omissions

        Protection against claims of negligence

      • Professional Liability

        Protection for specific risks in your field.

      • Business Owners Policy

        General Liability plus coverage for property.

      • Short-Term Liability Insurance

        Purchase coverage for a specific period of time.

      • Cyber Security Insurance

        Protection from cyber-related security risks.

      • Workers Compensation

        Protection from work-related illness or injury.

      • More Coverages

        Umbrella, Auto, Directors and Officers, and more

    • Coverage for 180+ Professions

      • Architects & Engineering
      • Beauty
      • Contractors
      • Consulting/Freelancing
      • IT/Technology
      • Landscapers
      • Marketing
      • View All Industries
    • Coverage for 49 States

      • View All States

    Retrieve Your Saved Quote

    Small Business Insurance Main Page

  • Why Hiscox Why Hiscox Toggle Menu
    With a single focus on Small Business Insurance, we provide fast, customized coverage just for you.
      • About Us
      • Customer Stories
      • Ratings & Reviews
      • Our Brand
      • Newsroom

    About Hiscox Main Page

  • Resources Resources Toggle Menu
    Insights and information to empower you and your business.
    • Blog
      • Start Your Business
      • Grow Your Business
      • Protect Your Business
      • Celebrate Courage
      • Business Insurance 101
      • Research & Insights
      • Partner Services
      • Insurance Glossary
      • Profit Calculator
      • Business Templates

    Resources Main Page

  • Policy Management Policy Management Toggle Menu
    We make it easy for policy-holders to make changes, access documents, and report claims.
    • Manage Your Policy Online

      • Hiscox Policy Management

        • Change Business Address
        • Get an ACORD Certificate
        • Get a Certificate of Insurance
        • Issue an ACORD for an Additional Insured
        • Request Policy Documents
        • And more

    • Claims

      • Claims Center
      • Report a Claim
      • Claims FAQs
      • Claims Customer Reviews
      • Cyber Vendor Services
      • Refer a friend

    If you purchased coverage from a broker and would like to update or change your policy, please contact your broker.

    Policy Management Main Page

  • Claims Center
  • Contact Us
  • Español
  • Brokers & Agents
  • About
  • Get a Quote Get a Quote
  • About
  • Get a Quote Get a Quote
  • Blog Home
    Start Your Business
    Grow Your Business
    Protect Your Business
    Celebrate Courage
    Search

    Small Business Insider

    Sign up to get the latest small business tips delivered right to your inbox.
    Close Close
    Grow Your Business
    October 20, 2011

    Need a business loan? Boost your chances with small business insurance

    Finances | Management
    By: Hiscox Blog

    Share Image

    Embed Image

    Copy

    Share Article:

    We all know how tight money is at the moment. Banks’ reluctance to lend to small businesses is a real issue for entrepreneurs looking to start or expand their businesses right now.

    There’s nothing more frustrating than having your big idea stymied because you can’t get enough backing. Some have chosen to go ahead anyway, either by using their life savings or turning to family or friends for loans. But be careful: not securing enough financing was one of the four biggest mistakes according to small business leaders in a recent Hiscox survey.

    Trying to get into the lender’s mindset could help improve your chances of getting a loan. What are banks most worried about? That your business will go belly up, leaving them with bad debt on their books. What you need to do is reassure them that you’ve done everything you prudently can to protect your business – and their investment. A great way of doing that is to buy small business insurance to protect your enterprise, which should and also make yourself look like a better credit risk in their eyes by protecting yourself from potential legal threats.

    Properly insuring your small business shows the money men that you’re serious about managing your risks. Purchasing business owner insurance, professional liability insurance, general liability insurance and workers’ compensation insurance demonstrates to lenders that you’re prepared for potential setbacks, such as a fire on your premises, a lawsuit from an unhappy client or costs associated with an injured employee.

    With economic confidence still so fragile those small businesses that are able to set lenders’ minds at rest about their financial strength will be those that are likely to seize new opportunities and thrive, not simply survive, in today’s business environment.

    Protect Your Business

    Protect the business you’ve worked so hard to build. Get a fast, free quote and your business could be covered today.

    Get a Quote
    Get a Quote
    Subscribe to our newsletter

    Related Articles

    5 Min Read
    successful business partnership. Wooden blocks with people icon on blue background.

    A 7-point checklist for a successful business partnership 

    Tools & Templates | Management

    What makes a successful business partnership? Here are 7 things to consider when starting a partnership business. Read More

    5 Min Read
    Scissors cutting a dollar bill. Business expenses and budget.

    10 Cost-cutting ideas to reduce business expenses now

    Finances | Management

    The key to business growth requires the right balance between increasing sales and cutting unnecessary costs. Here are 10 tactics to help you reduce business expenses now. Read More

    4 Min Read
    Brown package with strong. Red mouse on top of it. Last-minute holiday sales for small businesses.

    5 Tips for last-minute holiday sales

    Finances | Marketing

    It’s important to pull out all the stops to get those year-end sales in. Try a few of these sales ideas and see if you can boost your sales before the new year. Read More


    We’re here to help.
    We provide tailored insurance for the specific risks you face, so you can take the right risks to grow your business.
    Get a Quote
    Get a Quote
    Blog, Footer2021
    • What We Cover
      • Business Insurance
      • General Liability Insurance
      • Professional Liability Insurance
      • Errors and Omissions
      • Cyber Security Insurance
      • Workers Compensation
      • Other Coverage
    • Who We Cover
      • Small Business Owners
      • LLC
      • Side Hustle
      • Contractors
      • Home Businesses
      • 180+ Professions
    • For Our Customers
      • Refer a Friend Program
      • Covid-19 Response
      • Claims Center
    • For Business Owners
      • Save with our Partners
      • Hiscox Podcast for Business
    • About Hiscox
      • About Us
      • Careers
      • Contact Us
      • Hiscox Corporate
      • Investors
      • Foundation
      • Newsroom
      • We Stand Together
      • Affiliate Partner Program
    Blog, Footer, 2nd Row (new)
    • Accessibility
    • Site Map
    • Privacy Policy
    • Terms of Use
    • Legal Notices
    • Español

    Feefo Reviews: Hiscox rated 4.8/5 with 2,032 reviews between January 31, 2020 - January 21, 2021

    © 2021 Hiscox Inc. All rights reserved. Underwritten by Hiscox Insurance Company Inc., 104 South Michigan Avenue, Suite 600, Chicago, IL 60603. As of December 31, 2019, HICI had admitted assets of $778,266,779 and policyholders surplus of $215,333,986. Total liabilities were $562,932,793 (inclusive of $236,274,591 of loss reserves) and paid up capital stock was $4,242,000.

    icon-facebook
    icon-youtube
    icon-twitter
    icon-linkedin