How do I get business insurance?

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
• Bodily injury

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 your business needs.

Next, research business insurance policies and the protection they offer. You may want liability coverage to protect against lawsuits, property insurance if you own business property, or both. Most small business owners look at:

General liability insurance. Often the first policy purchased by a small business owner, a general liability 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 experts who provide professional services or advice, 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.

Workers’ compensation insurance. Most states require businesses to buy workers' comp as soon as they hire their first employee. It covers medical expenses for work-related injuries.

Small businesses may benefit from other policies. For example, an accountant who handles sensitive client information may want cyber liability insurance to cover costs related to data breaches. If you own a business vehicle, you likely need commercial auto insurance.

Talk to a licensed insurance agent to find out which types of business insurance match your needs.

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

• Location of your business
• Number of employees
• Business assets
• Estimated annual revenue

This information helps our insurance agents find the right coverage for your business. You can select which insurance products you're interested in or ask an agent for advice.

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.

You'll want to look at what liability insurance covers, the insurance provider's rating, and other insurance options such as limits and deductibles.

Make sure you choose the right coverage for your risks, with limits that can adequately pay for a potential lawsuit. As your business changes and grows, you may need to add different types of coverage or adjust your limits, deductible, or other coverage options to match your budget.

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