Small Business Insurance

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Our top policies for small business owners and contractors

No single small business insurance policy covers all risks. Different types of commercial insurance address different accidents, lawsuits, and damages that could impact a business. These policies address common risks.

General liability insurance icon

General liability insurance

This policy covers common business risks including bodily injuries, customer property damage, and advertising injuries. It's required for most commercial leases.

  • Slip-and-fall accidents
  • Damaged customer property
  • Libel or slander lawsuits
Business owner’s policy icon

Business owner's policy

A BOP bundles commercial property insurance and general liability insurance under one plan. It's one of the most cost-effective commercial insurance policies.

  • Customer injury
  • Damaged business property
  • Business interruption incidents
Professional liability insurance icon

Professional liability insurance

This policy, also called errors and omissions insurance (E&O), can help cover legal expenses if a business is sued for unsatisfactory work.

  • Professional negligence lawsuits
  • Project scope disputes
  • Work mistakes or oversights
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Errors and omissions insurance

E&O, sometimes called professional liability insurance, is common with professional services. It can cover legal costs of lawsuits related to work performance.

  • Business disputes
  • Negligence accusations
  • Work errors
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Workers’ compensation insurance

This policy is required in almost every state for businesses with employees. It also protects sole proprietors against work injury costs that health insurance might deny.

  • Employee medical expenses
  • Missed wages
  • Legal costs
Cyber liability insurance icon

Cyber liability insurance

This policy helps businesses survive data breaches and cyberattacks by helping pay for recovery expenses and associated costs.

  • Data breach lawsuits
  • Breach notification expenses
  • Fraud monitoring costs
Protection is peace of mind

Finding the right insurance for your small business is our top goal.

How much does small business insurance cost?

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Small businesses, especially low-risk ones, often qualify for discounted business insurance. Several factors affect policy costs, including:

  • Industry and risk factors
  • Coverage limits
  • Location
  • Number of employees
View Small Business Insurance Costs

Auto insurance for small businesses

Business-owned vehicles are required to have commercial auto insurance. Additionally, personal vehicles used for business purposes are not covered by your personal auto insurance policy.

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Commercial auto insurance

This policy is usually required for business-owned vehicles. It helps cover the costs of a vehicle accident, theft, or vandalism.

  • Car accidents
  • Vandalism and theft
  • Weather damage
Hired and non-owned auto insurance icon

Hired and non-owned auto insurance

HNOA covers a business's liability in accidents that occur while driving leased vehicles, rentals, and employee-owned cars for company errands.

  • Accidents in leased vehicles
  • Accidents in rental cars
  • Accidents in employee-owned vehicles

Specialized coverage for unique risks

Businesses with expensive equipment, a board of directors, or extra liability concerns may need additional coverage, or endorsements that cover common exclusions.

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Commercial umbrella insurance

This policy provides additional coverage once another policy's limit is reached. It boosts coverage on your existing general liability insurance and other liability policies.

  • Additional liability coverage
  • Additional workers' comp coverage
  • Additional commercial auto coverage
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Commercial property insurance

This policy covers the value of a business's physical structure and its contents, such as inventory, equipment, and furniture.

  • Fire
  • Theft or vandalism
  • Windstorms
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Business interruption insurance

This policy covers lost revenue, rent, and other day-to-day expenses when an event forces a business to temporarily stop operations.

  • Lost revenue
  • Day-to-day expenses
  • Relocation costs
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Inland marine insurance

This policy provides property coverage for business items used in the field. It typically pays for property that has been lost, damaged, or stolen.

  • Property in transit
  • Unique or valuable property
  • Property that transfers information
Product liability insurance icon

Product liability insurance

Included in general liability, this policy covers injuries or property damage caused by your product or completed service. It's also called products-completed operations coverage.

  • Construction businesses and contractors
  • Manufacturers
  • Retailers and wholesalers
Employment practices liability insurance icon

Employment practices liability insurance

This policy, also called EPLI, can cover legal expenses when an employee sues over discrimination, harassment, wrongful termination, and similar issues.

  • Sexual harassment lawsuits
  • Discrimination claims
  • Mismanagement allegations
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Directors and officers insurance

D&O insurance covers decisions made by directors, officers, and board members on behalf of the company. If they are sued, it may pay their legal expenses.

  • Employment practices lawsuits
  • Mismanagement accusations
  • Defamation claims
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Special event insurance

This policy combines liability and property coverages for events that occur outside of normal business activities.

  • Business events
  • Fundraisers
  • Parties
Medical malpractice icon

Medical malpractice insurance

Medical malpractice provides financial protection for healthcare professionals over legal claims related to negligence and mistakes. It’s a form of professional liability insurance.

  • Medical error lawsuits
  • Accusations of negligence
  • Missed appointment allegations

Common questions about small business insurance

What does small business insurance cover?

No single insurance policy covers everything. In general, there are two broad areas of insurance coverage:

Learn more about small business liability coverage and what coverage is right for you.

How much does small business insurance cost?

Business insurance costs vary based on the policies you purchase and your coverage limits. Other factors include your industry, number of employees, revenue, and location. Small, low-risk businesses – especially those that qualify for a business owner’s policy – pay less for insurance than larger companies.

Learn more about business insurance costs.

Why do I need business insurance?

Business insurance, also called commercial insurance, provides crucial protection for any small business. If there’s an accident at your business, you could face a lawsuit. The high cost of litigation, medical bills, and property damage claims is the primary reason businesses need insurance.

Your risk exposure determines which policies you need. The policy most businesses purchase is general liability insurance, which protects against customer injuries and other common accidents. You may need additional policies if you have employees, own a building, own a business vehicle, or provide expert advice.

Learn more about why a business might need liability insurance.

How do I get small business insurance?

It’s easy to get small business insurance if you have your business information on hand. An online insurance application will ask for basic facts about your business, such as revenue and number of employees. With Insureon, you can complete one free application to receive multiple quotes from top U.S. carriers. You can buy small business insurance policies for a wide range of risks.

Learn more about how to get business insurance.

Insurance policies for specific industries

These policies cover the risks of certain industries, such as bars and construction companies. 

Liquor liability insurance icon

Liquor liability insurance

This policy helps pay legal fees, settlements, and medical costs if alcohol is served or sold to a visibly intoxicated person who then harms others.

  • Injuries caused by intoxicated patrons
  • Property damage by intoxicated patrons
  • Legal defense costs
Builder’s risk insurance icon

Builder's risk insurance

This policy covers structures in progress and materials, often paying for damage caused by fire, vandalization, and non-severe weather events.

  • Building construction
  • Building renovation
  • Worksite theft and vandalism
Contractor’s tools and equipment coverage icon

Contractor's tools and equipment

This policy covers the value of a contractor's lost, stolen, or damaged equipment.

  • Equipment less than five years old
  • Mobile equipment
  • Small tools

Bonds for small businesses

Businesses may need bond insurance if they work with the government or handle a client’s finances.

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Fidelity bonds

Fidelity bonds compensate clients for employee theft, including theft by electronic funds transfer. They're also called employee dishonesty bonds.

  • Employee theft or fraud
  • Unlawful data access by an employee
  • Illegal funds transfer by an employee
Surety bond icon

Surety bonds

Surety bonds assure a business's clients that an insurance company will reimburse their losses if the business fails to deliver contracted services.

  • Failure to deliver services
  • Contract disputes
  • Incomplete work
License-permit bond icon

License / permit bonds

License / permit bonds offer guarantees a business will perform the contracted work and adhere to state or town regulations. They are often prerequisites for licenses and permits.

  • Failure to complete work
  • Failure to follow regulations
  • Failure to meet industry standards

Learn more about business bonds.

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