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.
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 covers medical bills and lost wages for work-related illnesses and injuries.
This policy helps businesses survive data breaches and cyberattacks by helping pay for recovery expenses and associated costs.
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.
This policy is usually required for business-owned vehicles. It helps cover the costs of a vehicle accident, theft, or vandalism.
HNOA covers a business's liability in accidents that occur while driving leased vehicles, rentals, and employee-owned cars for company errands.
Businesses with expensive equipment, a board of directors, or extra liability concerns may need additional coverage, or endorsements that cover common exclusions. Coverage for communicable diseases is available, but it's not part of standard policies. Most insurers will not write new policies covering COVID-19.
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.
This policy covers the value of a business's physical structure and its contents, such as inventory, equipment, and furniture.
This policy covers lost revenue, rent, and other day-to-day expenses when an event forces a business to temporarily stop operations.
This policy provides property coverage for business items used in the field. It typically pays for property that has been lost, damaged, or stolen.
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.
This policy, also called EPLI, can cover legal expenses when an employee sues over discrimination, harassment, wrongful termination, and similar issues.
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.
This policy combines liability and property coverages for events that occur outside of normal business activities.
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.
It’s easy to get small business insurance if you have your business information on hand. An insurance application will ask for basic facts about your business, such as revenue and number of employees. With Insureon, you can complete one application to receive multiple quotes from top U.S. carriers. You can buy insurance policies for a wide range of risks.
Learn more about how to get business insurance.
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.
Most standard business insurance policies exclude coverage for communicable diseases, such as COVID-19. Small business owners are often curious if the following policies provide any coverage for the coronavirus.
Special event insurance provides short-term coverage for a business event. It usually excludes communicable disease coverage. However, some policies might cover lost deposits or event postponement regardless of the reason behind it.
Workers' compensation insurance covers on-the-job injuries and occupational illnesses. Because each state sets its own laws for workers' comp, you may be able to recoup losses if your employees are unable to work due to the coronavirus.
Always check with your insurance provider if you think you might be eligible for a claim. And feel free to contact an Insureon agent if you have any questions.
These policies cover the risks of certain industries, such as bars and construction companies.
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.
This policy covers structures in progress and materials, often paying for damage caused by fire, vandalization, and non-severe weather events.
This policy covers the value of a contractor's lost, stolen, or damaged equipment.
Businesses may need bond insurance if they work with the government or handle a client’s finances.
Fidelity bonds, also called employee dishonesty bonds, cover client accusations of employee theft, including theft by electronic funds transfer.
Surety bonds assure a business's clients that an insurance company will reimburse their losses if the business fails to deliver contracted services.
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.