Will you be denied?
Is it possible they’ll deny you? Yes, of course, there are certain felonies which can disqualify you. No one says an insurance company has to offer a policy to anyone. As stated in our other articles on insurance, an insurance company must look after their bottom line, meaning they cannot afford to take unnecessary financial risks…and offering insurance to convicted felons is often considered a risk!
That said, America is still the Land of Opportunity, and even felons are generally able to get a second chance to start a new life and a new business. Every situation is different, and there is no blanket policy to cover all cases. “Non-serious” crimes will typically be overlooked; more serious crimes may not be. Whether or not your past crime disqualifies you depends on the company and, of course, on the crime itself and the time which has passed. At a minimum you might expect to pay a higher insurance premium than a person who has a clean record.
One crime which perhaps understandably might prevent you from buying small business insurance from any company is, you guessed it, insurance fraud! We hope this article gave you a good basic overview of small insurance for felons!