Some commercial insurance policies benefit every business. Others provide protections against risks that only affect specific businesses. Learn which policies you'll need for your small business.
A small business is a privately owned corporation, partnership or sole proprietorship that ranges in the number of people it employs. It differs from a startup, in that it is offering a product or service that is already known to the marketplace and meeting an already existing demand.
Every small business needs general liability insurance. This liability policy provides protection against common customer or client incidents, including bodily injuries, property damage, and personal injuries. An accident involving a customer can result in huge legal fees and medical expenses, making this an important policy for any business.
The types of risk your small business faces will dictate the policies you should purchase.
For instance, small businesses with valuable property should consider commercial property insurance, which covers your physical assets against loss or damage due to vandalism, natural disasters, and other similar events. If you are a small business owner in a low-risk industry, you may be able to cut premium costs by combining this policy with general liability insurance in a business owner’s policy (BOP).
These policies address your bare-bones exposures. However, you may need additional coverage depending on your industry, location, and operations.
For example, most state laws require you to carry workers’ compensation insurance if you have employees. Similarly, all business-owned vehicles must have commercial auto insurance.
Read more about the different types of insurance options available and determine the right coverage for your company.
Who's blaming you? Customers, delivery people, and other non-employees
For what? Injuries or property damage
What’s covered? Lawyer’s fees, court costs, settlements, judgments
Who's blaming you? Customers and clients
For what? Work mistakes that caused injuries or financial losses
What’s covered? Lawyer’s fees, court costs, settlements, judgments
Learn more about professional liability insurance / errors & omissions insurance.
Who's blaming you? Current employees
For what? On-the-job injuries or illnesses
What’s covered? Medical bills, missed or lost wages, death benefits
Who's blaming you? Customers and clients
For what? Exposing personal information in a data breach
What’s covered? Credit monitoring, notification expenses, legal costs, cyber extortion
Who's blaming you? Drivers, property owners, or other third parties
For what? Injuries or property damage caused by a business vehicle, or vehicle theft, vandalism, and other losses
What’s covered? Lawyer’s fees, court costs, settlements, judgments
Who's blaming you? Current, former, and potential employees
For what? Harassment, discrimination, other violations of employee rights
What’s covered? Lawyer’s fees, court costs, settlements, judgments
Who's blaming you? Employees, regulators, third parties
For what? Your board or executives misusing funds, failing to meet regulations, or failing to fulfill official duties
What’s covered? Lawyer’s fees, court costs, settlements, judgments
Who's blaming you? Customers, property owners, or other third parties
For what? Injuries or property damage caused by an intoxicated customer
What's covered? Lawyer’s fees, court costs, settlements, judgments
Your insurance needs depend on the specific characteristics of your small business. Because similar professional services share the same risks, it's helpful to explore business insurance coverage recommendations by industry. Select your profession from the list below for details about what kinds of insurance your small business might need.
Don't see your industry? Don't worry. We insure most businesses.
For an in-depth look at how various small business insurance policies differ, see more comparisons:
Complete Insureon’s easy online application today to compare insurance quotes from top-rated U.S. carriers. You can also consult with an insurance agent on your business insurance needs. Once you find the right types of coverage for your small business, you can begin coverage in less than 24 hours.