Small businesses in Louisiana most often buy these types of insurance.
This policy is important for all Louisiana businesses. It covers common risks, including customer injuries. Most commercial leases require this business liability insurance.
Workers’ comp insurance is required for all Louisiana businesses that have employees. It also protects sole proprietors from work injury costs that health insurance might deny.
This policy is required for business-owned vehicles in Louisiana. 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 commercial insurance for a Louisiana business.
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 missed deadlines.
E&O, sometimes called professional liability insurance, is common with professional services in Louisiana. It can cover the cost of lawsuits related to your work performance.
This policy covers financial losses from data breaches and cyberattacks. It's recommended for Louisiana businesses that handle credit cards and other sensitive data.
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 Louisiana, from Baton Rouge to New Orleans.
The state of Louisiana requires employers to carry workers’ compensation insurance or gain approval for self-insurance. Any employee who is full- or part-time, including seasonal staff and minors, must be covered.
Workers' comp covers medical costs for work injuries and illnesses. It also provides disability benefits to injured Louisiana workers.
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).
Louisiana'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.
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.
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 a minimum level of professional liability insurance coverage for physicians to participate in state programs that either limit the amount of damages available in a malpractice claim, or provides supplemental malpractice coverage to them.
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.