Small Business Insurance in Your State

In addition to state laws, there are a few other ways in which your location can affect the amount and type of coverage you need:

Property value. Property insurance costs more in locations with higher property values. If your real estate is valued at a higher amount, you may need higher limits on your commercial property insurance or business owner's policy (BOP) to cover any potential property damage.

Crime. In high-crime areas you should invest in coverage against theft and vandalism, such as comprehensive auto insurance, to protect your vehicle.

Population. Less foot traffic can result in potential savings on commercial general liability insurance, a key policy to protect against customer lawsuits. In contrast, a small business owner with a storefront in a major city can expect to pay more for insurance.

Weather. Most business property policies have exclusions for earthquakes and flooding. If your business is vulnerable to these risks, contact an insurance agent who can help you find an endorsement for your policy.

Insureon's licensed agents can help you find policies that fulfill your state's requirements and protect against financial loss. Once you've purchased insurance with us, you can download a certificate of insurance by logging into your account.

Yes – that's why cyber insurance is so crucial. Hackers are three times more likely to target small businesses, as they often have fewer resources to combat a threat.

State data breach laws typically require businesses to report security breaches to affected residents, and the costs can escalate quickly. Cyber liability insurance lessens the financial impact by paying for notification costs, legal fees, and fines.

Yes, your state may have special requirements for business insurance and bonds for your industry. You may also need a license depending on the work you do.

Contractors often need to carry a general liability policy or a surety bond to perform certain types of work. Having the right insurance and bonds helps you comply with state licensing requirements.

Professionals who offer advice or services, such as real estate agents and lawyers, sometimes need professional liability insurance to get licensed in their state. This policy is also referred to as errors and omissions insurance (E&O) or malpractice insurance.

State laws may also mandate insurance or bonds for dispensaries and other cannabis businesses.

Note that cities and counties may have their own laws, in addition to state laws.

As with any purchase, shopping around is one of the best ways to find an affordable option. With Insureon, you can compare quotes from top-rated providers by filling out a free online application.

Other ways to save include bundling policies for a discount and choosing less expensive policy options, such as lower limits or a higher deductible. Learn more about how to find cheap business insurance.