What are the requirements for small business insurance in Georgia?
In Georgia, every business with three or more employees is required to provide workers’ compensation coverage. Businesses that rely on cars and trucks to make deliveries, visit clients, or for other purposes will need commercial automobile insurance. Professionals who rent their office or other commercial space may need to provide proof of liability coverage such as general liability insurance or commercial property insurance before signing a lease. Other types of insurance are optional, such as professional liability insurance. Professional liability, also called errors and omissions insurance, helps protect specialists who provide expert advice to clients.
Insureon is licensed in Georgia. Our insurance specialists can help you determine which types of coverage are appropriate for your small business. We provide free insurance quotes from top-rated U.S. insurance carriers so you can select cost-effective insurance that fulfills your small business’s needs.
Learn more about insurance for your industry
Beyond state requirements, your industry is a key factor that determines which policies are a good match. Insureon’s experts take your individual business risks and assets into account when determining appropriate policies. Select your profession from the list below, or complete our online business insurance application to learn more about policies that match your industry.
We offer policies for the following professions and more:
Georgia small business insurance policies
Small businesses in Georgia most often choose the following policies:
General liability insurance
Small businesses can secure protection from costs incurred from customer injuries, customer property damage, and lawsuits with general liability insurance. Landlords or clients may ask for proof of general liability insurance before signing a lease or a contract. General liability insurance provides coverage when:
- A worker at your rug cleaning shop uses the wrong cleaning solution and damages an antique rug.
- One of the bridesmaids at a photography shoot injuries herself on a piece of recording equipment and decides to sue you.
- A customer gets food poisoning from a prepared meal sold at your convenience store.
Valuable assets that you own such as your building, inventory, and equipment may require protection against accidents and crime. Commercial property insurance helps with expenses related to loss or damage of your business property. It can help cover costs when:
- A valuable piece of landscaping equipment breaks down on a job site.
- A criminal breaks into your hardware store and steals tools.
- A restaurant’s walk-in freezer malfunctions, causing the food inside to spoil.
Workers’ compensation insurance
In Georgia, any business with three or more employees is required to provide workers’ compensation insurance. Workers’ comp helps pay for lost wages and medical fees caused by on-the-job injuries or occupational illnesses. It may cover expenses when:
- An employee at your garden center develops a back injury caused by shoveling.
- A worker at your utility company suffers a head injury from walking into a low-hanging pipe.
- The receptionist at your law firm develops carpal tunnel syndrome from repetitive typing.
Professional liability insurance (errors and omissions insurance)
Professional liability insurance can help pay legal costs related to expert advice or services that you provide to your clients. It can help provide coverage when:
- You break the terms of a client's contract.
- Your error results in a client's revenue loss.
- You miss a deadline, negatively impacting a client’s business.
Cyber liability insurance
In Georgia, any business that suffers a data breach must immediately notify all customers or clients whose personal information may have been compromised. Depending on the extent of the breach, the business may also need to notify consumer reporting agencies. Cyber liability insurance helps cover the following when a breach occurs:
- Data breach notification costs.
- Forensic investigation into the cause of the breach.
- Credit monitoring for parties affected by the breach.
- Legal expenses if you’re sued for not preventing the breach.
Business owner’s policy (BOP)
If your small business is eligible, you can save money by purchasing a business owner’s policy, which bundles general liability and commercial property insurance at a lower rate than if they were purchased separately. Your business may be eligible if:
- You work in a low-risk industry.
- You have fewer than 100 employees.
Commercial auto insurance
Any vehicles owned by your business must be covered by commercial auto insurance. This coverage can assist with:
- Repairs to the other driver’s car in an accident.
- The other driver’s medical expenses due to injury.
- Legal expenses if you’re sued over an accident.
- Repairs to your vehicle if it’s damaged by theft, weather events, or vandalism.
Georgia business insurance licensure information
In Georgia, insurance agents, agencies, and brokers are licensed by the Georgia Office of Insurance. Insureon is licensed in Georgia as BIN Insurance Holdings, LLC. You can verify our licensure using the Georgia Office of Insurance agency search by entering our Georgia state license number (154355) into the field for agency license, or by searching for “BIN INS HOLDINGS LLC” under agency name.