Small business insurance is exactly what it sounds like: insurance designed for small businesses like yours. Different policies protect against different risks, such as fires, theft, and lawsuits brought by customers or employees.
The type of business insurance you need depends on your business's risks, as well as factors such as state laws, lease requirements, and client contracts.
These policies address the most common risks faced by small businesses.
This policy covers common business risks including bodily injuries, customer property damage, and advertising injuries. It's required for most commercial leases.
A BOP bundles commercial property insurance and general liability insurance under one plan. It's one of the most cost-effective commercial insurance policies.
This policy, also called errors and omissions insurance (E&O), can help cover legal expenses if a business is sued for unsatisfactory work.
E&O, sometimes called professional liability insurance, is common with professional services. It can cover legal costs of lawsuits related to work performance.
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.
This policy covers the value of a business's physical structure and its contents, such as inventory, equipment, and furniture.
This policy helps businesses survive data breaches and cyberattacks by helping pay for recovery expenses and associated costs.
This policy is usually required for business-owned vehicles. It helps cover the costs of a vehicle accident, theft, or vandalism.
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.
Small businesses, especially low-risk ones, often qualify for discounted business insurance. Several factors affect policy costs, including:
These business insurance policies cover the risks of certain industries, such as retail, manufacturing, healthcare, food and beverage, and construction.
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.
Medical malpractice provides financial protection for healthcare professionals over legal claims related to negligence and mistakes. It’s a form of professional liability insurance.
This policy covers the value of a contractor's lost, stolen, or damaged equipment.
This policy provides property coverage for business items used in the field. It typically pays for property that has been lost, damaged, or stolen.
This policy covers structures in progress and materials, often paying for damage caused by fire, vandalization, and non-severe weather events.
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.
No single insurance policy covers everything. In general, there are two broad areas of insurance coverage:
Learn more about small business insurance coverage and what coverage is right for you.
Business insurance, also called commercial insurance, provides crucial protection for any small business owner. If there’s an accident at your business, you could face a lawsuit. The high cost of litigation, medical bills, and property damage claims are the primary reasons businesses need insurance.
Your risk exposure determines which type of coverage 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.
It’s easy to get insurance coverage if you have your business information on hand.
Insureon's free online application asks for basic facts about your company, such as revenue and number of employees. After you complete it, you'll receive quotes from top-rated carriers that match your business risks.
You can buy small business insurance policies for a wide range of risks from the following providers: Acuity Insurance, AmTrust, Chubb, The Hanover, The Hartford, Hiscox, Liberty Mutual, Philadelphia Insurance, and Travelers. Note that you won't see quotes from all providers, only those that can fulfill your insurance needs.
Learn more about how to get business insurance.
Insureon is the #1 digital business insurance agency. We help small business owners from numerous industries easily compare insurance quotes from top-rated companies, buy policies, and manage their coverage online. Our insurance agents are licensed in 50 states and Washington, D.C.
Learn about business insurance requirements in your state.
Business interruption insurance (or business income insurance) helps your small business recover from a temporary shutdown tied to a commercial property insurance covered loss, such as a fire or storm.
Hired and non-owned auto insurance (HNOA) provides liability coverage for accidents involving personal, leased, or rented vehicles used by your business.
Management liability insurance is a combination of policies such as employment practices liability insurance, directors and officers insurance, and others. These policies cover the many business risks faced by senior-level managers, including lawsuits and claims of discrimination, mismanagement, and fraud.
Business bonds pay your clients back when a contract is broken. You may need a bond to work with certain clients, or to get a license for your profession.
Special event insurance combines liability and property coverages for events that occur outside of normal business activities.
A commercial package policy (CPP) combines liability and property coverage into one policy with more flexible protection options. While it similar to a business owner's policy, a CPP is more often purchased by small and medium-sized businesses with higher risks.
You can also customize many of your policies to better fit your business needs or budget. An endorsement modifies a small business insurance policy to remove coverage you don’t need, or to negate one or more exclusions, adding coverage back into the policy.
To make a property or liability claim, simply call your insurance provider. An agent will ask for a description of the incident and basic information such as your business's name and policy number. They will guide you through the process, answer your questions, and send the necessary paperwork.
Read more about how to make a general liability claim.
You can find additional information in our frequently asked questions about small business insurance.
If there are any additional questions you have about coverage, you can also contact an Insureon agent.