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How do I get business insurance?

Take a few simple steps to evaluate your risks and compare policies online before purchasing small business insurance.

Buy business insurance online in 4 simple steps

1. Evaluate your risks

Your business risks determine which types of small business insurance are appropriate for your company. Here are a few examples of risks that a business owner might face:

  • Lawsuits over customer injuries
  • Property damage
  • Lawsuits from dissatisfied clients
  • Cyberattacks
  • Food spoilage

Come up with a list of the issues that worry you as a business owner. Then you’ll be in a position to know which insurance policies will give you peace of mind.

2. Research policies

Next, research business insurance policies and the protection they offer. Most small business owners look at:

General liability insurance. Often the first policy purchased by a small business owner, this policy protects against common third-party lawsuits, such as customer injuries.

Business owner’s policy. A small, low-risk business can often combine general liability insurance with commercial property insurance in a business owner’s policy. A BOP costs less than purchasing each policy separately.

Professional liability insurance. Designed for professionals who provide expert advice or services, this policy provides protection if a client sues over late, incomplete, or unsatisfactory work. This policy is called errors and omissions insurance in some industries.

Small businesses may benefit from other policies. For example, an accountant who handles sensitive client information may want cyber liability insurance to protect against data breaches. Other policies may be required, such as workers’ compensation insurance for businesses that have employees. Talk to a licensed Insureon agent to find out which policies match your business.

3. Apply for free quotes

Fill out Insureon’s free online application to compare quotes for small business insurance from top-rated U.S. carriers. Information you might need for the application includes:

  • Location of your business
  • Number of employees
  • Business property value
  • Estimated annual revenue

4. Compare quotes and purchase a policy

Once you receive your quotes, it’s tempting to choose the cheapest policy to save money on insurance. However, a policy that provides inadequate protection could end up costing your business more in the long run.

Make sure you choose policies that cover all of your risks, with limits that can adequately cover a potential lawsuit. As your business changes and grows, you may need to revisit your business insurance requirements.

Get started by filling out Insureon’s easy online application today.

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