Arkansas small businesses most often buy these types of insurance.
This policy is important for all Arkansas businesses. It covers common risks, including customer property damage and injuries. Most commercial leases require this coverage.
Workers’ comp is required for Arkansas businesses that have three or more employees. It also protects sole proprietors from work injury costs that health insurance might deny.
This policy is required for business-owned vehicles in Arkansas. It covers injuries and property damage in an accident, along with vehicle theft, vandalism, and weather damage.
A BOP bundles commercial property insurance and general liability coverage in one plan. It's often the most cost-effective type of business insurance.
This policy, also called errors and omissions insurance (E&O), protects professionals whose work depends on their expertise. It covers client lawsuits over mistakes and oversights.
E&O, sometimes called professional liability insurance, is common with professional services in Arkansas. It can cover the cost of lawsuits related to your work performance.
This policy helps Arkansas businesses survive data breaches and cyberattacks by paying for client notification costs, legal fees, and other related expenses.
Umbrella insurance boosts coverage on your general liability insurance, commercial auto insurance, and employer's liability insurance when the underlying policy reaches its limit.
This policy covers the value of a business's physical structure and its contents, such as inventory, equipment, and furniture. Bundle it with general liability coverage in a BOP for savings.
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State laws affect which business insurance policies you need. These policies are required everywhere in Arkansas, from Fayetteville to Little Rock.
With a few exceptions, Arkansas state law requires businesses with three or more employees, full-time or part-time, to carry workers' compensation insurance. In the construction industry, businesses with fewer than three employees must provide workers' comp.
Employers may not charge Arkansas workers any amount for the coverage costs. This policy covers medical bills for work injuries and illnesses.
Trucking companies may need additional insurance coverage to comply with regulations.
Though it's not required, personal vehicles driven for work purposes should be covered by hired and non-owned auto insurance (HNOA), as personal auto policies usually exclude business use. It can be added to general liability insurance or a business owner's policy (BOP).
Review answers to frequently asked questions about Arkansas insurance.
Arkansas' data breach laws 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 Arkansas general liability insurance or surety bonds to perform certain types of work. Having the right insurance and bonds helps you comply with state licensing requirements.
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 insurance companies 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.