Small Business Liability Insurance
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Frequently asked questions about business insurance

We’ve compiled the most frequently asked questions to help you compare policies and decide which insurance is right for your small business.

Business insurance requirements and coverage

What is business liability insurance?

Business liability insurance is any commercial insurance that involves a business’s responsibility for losses, injuries, or damages. Types of liability insurance include:

Learn more about business liability insurance.

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.

What does business insurance cover?

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

Learn more about what business insurance covers.

Is business insurance required by law?

In certain cases, business insurance is required by law. Most states require businesses with employees to obtain workers’ compensation insurance. Business-owned vehicles must be insured with commercial auto insurance. Also, state laws may require some businesses to obtain insurance as part of the licensing process. For example, bars typically need liquor liability insurance as a prerequisite for a liquor license.

What types of business insurance do I need?

There are several situations in which businesses are required to obtain commercial insurance. For example, most states require businesses with employees to purchase workers’ compensation insurance. Business-owned vehicles must be covered by commercial auto insurance.

While it’s not required by law, general liability insurance is often included in the terms of a commercial lease or client contract. Learn more about the types of business insurance.

Business insurance costs

How much does 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, or compare quotes from multiple U.S. carriers by completing Insureon’s online application.

How can I save on business insurance?

Every business can save money on insurance. One of the best ways is to explore what different providers are offering. You can contact insurance companies directly and request rates, but you’ll have to provide your business details each time you apply.

With Insureon, you can compare multiple quotes from top U.S. carriers with one easy online application. Learn more about how to save money on business insurance.

Is business insurance tax deductible?

Business insurance is considered one of the costs of doing business. That means you can deduct insurance premiums that serve a business purpose, such as your premium for general liability insurance or professional liability insurance.

Find out more about when business insurance is tax deductible.

Purchasing business insurance

How do I get business insurance?

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 small business insurance policies for a wide range of risks.

Learn more about how to get business insurance.

How do I get a certificate of liability insurance?

After you purchase an insurance policy, you can request a certificate of insurance from the insurer. When you buy insurance through Insureon, you can usually download the certificate from your Insureon account as soon as the policy is issued.

Other frequently asked policy questions

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