Get the right commercial insurance for your Colorado business
Which insurance policies are recommended for Colorado businesses?
Small businesses in Colorado most often buy these insurance products.
General liability insurance
This policy is important for all Colorado businesses. It covers common risks, including customer property damage and personal injuries. Most commercial leases require this coverage.
- Customer injuries at your business
- Damaged customer property
- Advertising injuries, such as libel
Workers’ compensation insurance
Workers’ comp insurance is required in Colorado for every business that has employees. It also protects sole proprietors from work injury costs that health insurance might deny.
- Employee medical expenses
- Disability benefits
- Lawsuits from employee injuries
Commercial auto insurance
This policy is required for business-owned vehicles in Colorado. It covers injuries and property damage in an accident, along with vehicle theft, vandalism, and weather damage.
- Accidents involving business vehicles
- Theft of a business-owned vehicle
- Damage to a company vehicle
Business owner’s policy
A BOP bundles commercial property insurance and general liability coverage in one plan. It's often the most cost-effective type of insurance for a Colorado business.
- Customer lawsuits
- Business property insurance
- Business interruption coverage
Professional liability insurance
This type of business liability insurance is also called errors and omissions insurance (E&O). It covers client lawsuits over mistakes and missed deadlines.
- Work mistakes and oversights
- Professional services lawsuits
- Late or incomplete work
Errors and omissions insurance
E&O, sometimes called professional liability insurance, is common with professional services in Colorado. It can cover the cost of lawsuits related to your work performance.
- Missed deadlines
- Accusations of negligence
- Errors and oversights
Cyber insurance
A cyber liability policy helps Colorado businesses survive data breaches and cyberattacks by paying for client notification costs, legal fees, and other related expenses.
- Customer notification expenses
- Fraud monitoring services
- Data breach investigations
Commercial umbrella insurance
Umbrella insurance boosts coverage on your general liability insurance, commercial auto insurance, and employer's liability insurance when the underlying policy reaches its limit.
- Customer lawsuits
- Auto accident lawsuits
- Employee injury lawsuits
Commercial property insurance
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.
- Fire
- Theft and vandalism
- Weather damage
Verified business insurance reviews
Hear from customers like you who purchased small business insurance.
Which business insurance policies are required in Colorado?
State laws affect which business insurance coverage you need. These policies are required everywhere in Colorado, from Denver to Fort Collins to Colorado Springs.
Workers' compensation insurance
Colorado's workers' compensation law requires workers’ compensation insurance for all employees of public or private businesses. Generally, any person who performs work or services is presumed to be an employee. This policy covers medical bills for work injuries and illnesses, such as a cleaning company employee becoming sick from cleaner fumes.
Commercial auto insurance
All business-owned vehicles in Colorado must be covered by commercial auto insurance. The minimum requirements in Colorado are:
- $25,000 bodily injury liability per person
- $50,000 bodily injury liability per accident
- $15,000 property damage liability per accident
Trucking companies may need additional 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).
How much does small business insurance cost in CO?
Commercial insurance can be affordable for small business owners. Based on policy data from Insureon customers in Colorado, the average costs are:
General liability: $54 per month
Workers' comp: $59 per month
Professional liability/E&O: $86 per month
Factors that influence business insurance costs include:
- Your industry and risks
- Business operations
- Number of employees
- Location, such as Denver or Thornton
- Policy limits and deductibles
Top professions we insure
FAQs about Colorado business insurance
Review answers to frequently asked questions about Colorado insurance.
How do I get a certificate of insurance for my business?
Insureon's licensed agents can help you find policies that fulfill Colorado's requirements and protect against financial loss. Once you've purchased insurance with us, you can download a certificate of insurance (COI) by logging into your account.
Can my company be held liable for a data security breach?
Yes – that's why cyber insurance is so crucial. Small businesses are a common target of cyberattacks since they often have fewer security measures in place.
Colorado's 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.
Does my industry affect state insurance requirements?
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 and some handymen often need to carry 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.
Real estate agents and brokers are required by state law to carry errors and omissions insurance (E&O), while other professionals who offer advice or services sometimes need this policy to get licensed.
State law also requires that practicing physicians carry professional liability insurance coverage.
Cannabis businesses in Colorado are not required to carry cannabis business insurance in order to operate legally. However, coverage is strongly recommended to keep your business protected.
Note that cities and counties may have their own laws, in addition to state laws.
How can I save money on Colorado business insurance?
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 carriers 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.