Which insurance do I need for my LLC?

Insureon Staff.
In this video, we look at insurance policies that cover common risks faced by LLCs – from unexpected lawsuits and costs to employee injuries and illnesses.

View video transcript.

[video: an animated header displays the Insureon logo. Underneath it, a subheading displays the text: "What insurance do I need for my LLC?"]

MALE VOICEOVER: By becoming an LLC, you've reduced the risk to your personal assets that can exist with other types of small business structures. But you also need to protect your business assets too. There are several insurance policies that provide sustained peace of mind and safeguard your business.

[video: an illustrated header displays the text: "General liability covers:"]

[video: Under above header, three bullet points display the text: "Slip-and-fall accidents"; "Client property damage"; "Product liability lawsuits"]

General liability insurance covers third-party accidents, such as customer injuries or property damage.

[video: an illustrated header displays the text: "Commercial property covers:"]

[video: Under above header, three bullet points display the text: "Fires"; "Storm damage"; "Equipment theft"]

Commercial property insurance covers costs if your business property is damaged, destroyed, or stolen.

[video: an illustrated header displays the text: "A BOP covers:"]

[video: Under above header, three bullet points display the text: "Client accidents"; "Stolen or damaged property"; "Business interruptions"]

A business owner's policy or BOP bundles general liability and commercial property insurance together. It typically costs less than buying each of those two policies separately.

[video: an illustrated header displays the text: "Professional liability covers:"]

[video: Under above header, three bullet points display the text: "Accusations of negligence"; "Missed deadlines"; "Errors that cost clients clients money"]

Professional liability insurance, also known as errors and omissions insurance, will protect your business from lawsuits related to work mistakes and oversights.

[video: an illustrated header displays the text: "Cyber insurance covers:"]

[video: Under above header, three bullet points display the text: "Data breach notification costs"; "Data breach investigations"; "PR costs for reputational harm"]

Cyber insurance can help your business financially recover from data breaches and cyber attacks.

[video: an illustrated header displays the text: "Workers' comp covers:"]

[video: Under above header, three bullet points display the text: "Work-related medical expenses"; "Disability benefits"; "Lawsuits from employee injuries"]

Workers' compensation is required in most states and can provide coverage for work-related medical costs for any injured employees.

[video: an illustrated header displays the text: "Commercial auto covers:"]

[video: Under above header, three bullet points display the text: "Auto accident injuries"; "Illegal funds transfer by an employee"; "Client contract requirements"]

Commercial auto insurance can provide coverage for the costs of auto accidents involving any company-owned vehicles.

[video: an illustrated header displays the text: "Fidelity bonds cover:"]

[video: Under above header, three bullet points display the text: "Employee theft or fraud"; "Property damage caused by vehicles"; "Vehicle theft and vandalism"]

Fidelity bonds provide reimbursement to your client if an employee steals from them. These bonds are also sometimes required in contracts.

[video: an illustrated header displays the text: "Why is insurance important for an LLC?"]

So why is it important for you to have insurance for your LLC?

[video: an illustrated header displays the text: "LLCs may need insurance to:"]

[video: Under above header, three bullet points display the text: "Sign a contract or lease"; "Apply for a loan"; "Comply with federal or state laws"]

You may need coverage to sign a contract or lease. You also might need insurance to comply with federal, state, or local laws.

[video: an illustrated header displays the text: "Insurance can also help:"]

[video: Under above header, three bullet points display the text: "During business closures"; "Gain client trust"; "Attract talent"]

Insurance also protects you and your LLC from catastrophic losses that could shutter your business. Plus the right coverage can help you gain client trust.

Get the best coverage for your LLC with Insureon today.

[video: an illustrated white header displays the text: "Insureon is your #1 agency for small business insurance"]

Click the link to get started.

[video: an animated header displays the Insureon logo]

A limited liability company, or LLC, is a type of small business structure that helps protect your personal assets from business-related debts or liabilities. LLLs often face similar risks (if not more) as bigger, more established businesses, For this reason, any business, small or large, should have the right risk management plan in place.

In this video, we discuss the policies that new business owners should invest in to protect their LLC from financial burdens like frivolous lawsuits, costly repairs, and expensive medical fees.

Learn more about insurance for limited liability companies.

Get insurance for your business with Insureon

Complete Insureon’s easy online application today to compare insurance quotes from leading insurance companies. You can also consult with an insurance agent on your business insurance needs. Once you find the right policy for your small business, you can begin coverage in less than 24 hours.

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