Nevada Business Insurance

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Protecting small businesses in the Silver State

With a quarter of a million small businesses employing nearly half a million workers, Nevada's small businesses make up a big part of the state's economy. According to the U.S. Small Business Administration, small businesses account for 99.1% of all business in the Silver State. And those businesses are helping Nevada's economy to grow. In 2015, small businesses created 26,753 net jobs.

Small business growth in Nevada is bolstered by the state's Small Business Administration, which offers development programs, trade expansion grants, counseling centers and more. But Nevada also reports one of the highest rates of employee lawsuits in the nation, so it's essential for Nevada's business owners to protect their investments through comprehensive small business insurance coverage.

Top industries covered by Hiscox in Nevada

Thanks to Hiscox's in-depth knowledge of diverse fields, small business owners in a range of industries can find insurance coverage with Hiscox. Some of the Nevada business owners who most frequently insure with Hiscox include those who work in the IT consulting, cosmetology, landscaping, personal training and home repair industries.

More professions we insure in Nevada

Nevada Small Business Insurance

As small business insurance specialists we understand that every business is different, which is why we don’t offer one-size-fits-all solutions. We customize our small business insurance in Nevada to the specific risks you face, ensuring you get the right coverage at the right price.

Key Nevada laws and conditions driving increased business liability rates

Across the country, employees in all U.S. states are guaranteed a baseline level of protection against discrimination by the federal government. Employers with at least 15 employees may not discriminate against employees based on race, color, national origin, sex, religion and disability. Employers with 20 or more employees must guarantee freedom from age discrimination, and employers with four or more employees must guarantee freedom from discrimination based on citizenship status.

In addition to prohibiting employment discrimination based on race, color, national origin, sex, religion, disability and age, Nevada law also prohibits employment discrimination based on pregnancy, genetic information, sexual orientation and gender identity or expression. Employers must comply with these laws if they have at least 15 employees.

These additional protections broaden not only the potential for discrimination lawsuits but also for retaliation lawsuits—when an employee claims to have been fired or otherwise retaliated against for making a claim of discrimination. And Nevada faces one of the highest rates of employment discrimination lawsuits in the nation. A Hiscox study found that Nevada companies have a 55% higher chance of facing an employment charge than the national average. These charges can take their toll on a small business. It takes an average of 318 days for the typical claim to be resolved, and cases that result in a defense and settlement payment cost an average of $160,000.

While all business owners will do their best to mitigate these risks through careful management practices, all small business owners can use the protection of a comprehensive insurance policy to obtain additional peace of mind.

 

Nevada workers compensation laws

Just as Nevada boasts stronger employment discrimination laws than the U.S. average, its workers' compensation requirements are remarkably strict. While many U.S. states have a threshold of four or so employees before workers' compensation coverage is required, Nevada requires all employers—even those with as few as a single employee—to obtain workers compensation insurance.

Sole proprietors may choose to exempt themselves, and other exceptions include household and domestic workers, agricultural labor, and casual employees—those who work for less than 20 days with a labor cost of under $500—among others.

Nevada businesses may obtain workers compensation insurance from a commercial provider, such as Hiscox, or approved businesses may self-insure with the Nevada Division of Insurance. In order to qualify as a self-insured employer, businesses must meet a tangible net worth requirement of $2.5 million.

Penalties for failing to obtain workers compensation insurance are severe. According to the Nevada Department of Business & Industry, employers who do not provide workers' compensation will be charged with an administrative fine of up to $15,000, may face stop-work orders, and will be held financially responsible for all costs arising from a work-related injury. If a worker is substantially harmed or killed, the uninsured employer may also face criminal charges.

How can Hiscox help your Nevada business?

At Hiscox, we tailor each client's coverage—from liability insurance to a business owner's policy to workers’ compensation and beyond—to ensure that it meets each individual's specific needs. We offer a range of benefits:

  • Flexible payment options: Our monthly payment schedule, with no added fees, can help you manage a growing business's cash flow.
  • Tailored insurance: With Hiscox, you'll never be stuck with a one-size-fits-all insurance policy.
  • Claims responsiveness: When a covered claim is reported, Hiscox will immediately assign a dedicated claim specialist to assist you.
  • Worldwide coverage: A Nevada business insured with Hiscox is covered for work done anywhere in the world, as long as the claim is filed in the U.S., a U.S. Territory, or Canada.

Get a fast, free quote now, and get the protection you need for your Nevada business. If you have questions, you can call us at 1-866-283-7545 and speak with a Hiscox licensed agent, Monday – Friday, 7am – 10pm ET.


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Hiscox Customer Reviews

94%
Hiscox rated 4.7/5
Rated 4.7/5

5 Stars

Scott, Las Vegas, Nevada

“Quick and easy! Very reasonable price and nice online policy management.”

 

5 Stars

Hal, LAS VEGAS, NEVADA

"LIVE AND LEARN. THANK YOU HISCOX."

I APPRECIATED THE VERY FAST SERVICE. THE REP'S WERE WELL INFORMED, INTERESTED IN MY NEEDS, AND COURTEOUS. I HAVE RECOMMENDED HISCOX TO COLLEAGUES AND WILL CONTINUE TO DO SO. HISCOX'S COVERAGE WAS PRICED FAIRLY AND IS HIGHLY COMPETITIVE. I'VE BEEN IN BUSINESS FOR 48 YEARS AND WISH I'D LEARNED ABOUT HISCOX MUCH SOONER.

 

5 Stars

Kendra, Salt Lake City, NV

"Awesome!" They were great. Everyone was really nice, and everyone gave me the same info when I called... I had to call a couple different times.”

 

5 Stars

Ed, Las Vegas, NV

Very easy process and great explanation of coverage options.

 

5 Stars

Eugene, Laughlin, NV

Fast evaluation of my application. The only company I could find that accepts startup businesses. The price is right.

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All of our insurance products have been fully approved in Nevada by the Department of Business & Industry, Division of Insurance and are underwritten by Hiscox Insurance Company Inc., an Illinois insurance company whose license number is 4539.

This information is provided to assist you in understanding the coverage we offer and does not modify the terms and conditions of any insurance policy, nor does it imply that any claim is covered. Coverage is subject to underwriting and may not be available in all states.

Administered by Hiscox Inc., a Delaware corporation that is a licensed insurance producer in all states and Washington, D.C. 5 Concourse Parkway, 21st Floor, Atlanta, GA 30328.