Get the right commercial insurance for your St. Louis business
Which policies are recommended for St. Louis businesses?
General liability insurance
A general liability policy covers legal costs related to customer injuries, defamation, and copyright infringement. Commercial leases in St. Louis often require this coverage.
- Lawsuits from personal injuries
- Accidental damage to a client's property
- Libel and other advertising injuries
Professional liability insurance
This policy covers professional negligence, such as a recommendation made by a consultant that causes a client to lose money. It's also called errors and omissions insurance (E&O).
- Mistakes that cause financial loss
- Breach of contract
- Missed deadlines
Cyber insurance
Cyber liability insurance covers costs related to data breaches and cyberattacks. Every St. Louis business that handles customer information should carry this coverage.
- Customer notification costs
- Fraud monitoring services
- Data breach investigations
Business owner’s policy
A BOP bundles general liability coverage and commercial property insurance together at a discount. It's the policy most often recommended for small businesses in St. Louis.
- Customer injuries
- Damaged business property
- Business interruption coverage
Workers’ compensation insurance
St. Louis businesses that have five or more employees must carry workers' comp. It also protects sole proprietors against work-related medical bills that health insurance won't cover.
- Medical bills from employee injuries
- Disability benefits
- Workplace injury lawsuits
Commercial auto insurance
All vehicles owned by St. Louis businesses must be covered by a commercial auto policy. This policy covers auto accident injuries and property damage.
- Injuries caused by your vehicle
- Property damage caused by your vehicle
- Theft of a business vehicle
Errors and omissions insurance
Consultants and professional services carry this coverage to protect against legal defense costs from clients harmed by their advice or services. It's also called professional liability insurance.
- Errors and oversights
- Late or incomplete work
- Negligence accusations
Commercial property insurance
This policy covers the cost of repair or replacement of your building's physical structure and its contents after a damaging event. Bundle it with general liability coverage in a BOP for a discount.
- Storm damage
- Fires
- Theft and vandalism
Commercial umbrella insurance
An umbrella policy provides coverage once the limit is reached on your underlying general liability insurance, commercial auto insurance, or employer's liability insurance.
- Customer lawsuits
- Auto accident lawsuits
- Employee injury lawsuits
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Which business insurance policies are required in St. Louis, MO?
Workers' compensation insurance
Missouri's workers' compensation law requires businesses with five or more employees to carry this type of insurance. Construction businesses must carry this coverage if they have any employees.
Workers' comp pays for medical expenses from job-related bodily injuries and illnesses, as well as provides disability benefits for injured workers.
Most workers' compensation policies include employer's liability insurance, which covers legal costs related to workplace injuries.
Commercial auto insurance
Commercial auto insurance for all vehicles that are owned by a business. This insurance policy pays for medical bills, legal costs, and property damage after an auto accident.
St. Louis businesses are required to meet the state's requirements for auto liability and uninsured motorist coverage:
- $25,000 bodily injury liability per person
- $50,000 bodily injury liability per accident
- $25,000 property damage liability per accident
You may want to consider higher limits, given the potential cost of a lawsuit. Trucking companies also may need more coverage to comply with regulations.
If you need business insurance coverage for personal, rented, or leased vehicles, you should consider hired and non-owned auto insurance (HNOA).
How much does business insurance cost in St. Louis?
Small businesses in Saint Louis don't have to pay a lot for commercial insurance. Here are a few average costs for Missouri businesses, based on policy data from Insureon customers:
General liability: $50 per month
Workers' comp: $86 per month
Professional liability/E&O: $71 per month
The cost of business liability insurance depends on factors such as:
- Type of business
- Business operations
- Number of employees
- Policy limits and deductibles
- Claims history
Top professions we insure
FAQs about St. Louis business insurance
How do I get a certificate of insurance for my business?
Sometimes you need to get insured quickly to sign a contract or other agreement. With Insureon, you can get same-day insurance in three easy steps:
- Fill out our easy online application to get quotes from top-rated providers.
- Choose a policy and pay for it online.
- Download a certificate of insurance (COI) by logging into your account.
Our licensed insurance agents will help you get coverage for your small St. Louis business that matches your risks and your budget. Most businesses can get their certificate of insurance within a few hours of applying for quotes.
Can my business 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.
Small and medium-sized businesses are often a common target of cyberattacks, since they frequently have fewer digital security measures than larger corporations.
Missouri's data breach laws require Saint Louis businesses to notify any residents whose personal or private information is exposed in a data breach.
Your business could also end up paying for a cyber investigation, PR campaign, and other costs related to a breach or cyberattack. Cyber insurance keeps your business protected so you can get back up and running quickly after a cybersecurity incident.
Does my industry affect St. Louis insurance requirements?
St. Louis may have requirements for business insurance and bonds, depending on the type of work you do.
All businesses in St. Louis must be licensed, including sole proprietors, and all Missouri businesses must register with the Secretary of State. Your business license requirements will vary based on your industry and each location or storefront where you operate will need a separate license.
Here are a few examples of businesses with additional obligations:
- Cannabis dispensaries are not required by state law to carry insurance, but they may need it to secure a commercial lease or loan.
- Doctors working at hospitals in St. Louis are required to carry medical malpractice insurance.
- Notaries public must carry a $10,000 surety bond to work in Missouri.
- Insurance agents must be licensed to sell insurance in Missouri, which includes passing a licensing exam.
- Contractors and subcontractors may need contractor general liability insurance or a surety bond to sign a contract or bid on a project. St. Louis requires a graduated business license for any construction-related work.
When running a business in St. Louis, you need to be aware of laws and regulations for both the city and state.
Additionally, if you operate out of state, you'll need to abide by the requirements of each location. For example, if you have a storefront in both St. Louis and Chicago, Illinois, you'll need to abide by regulations for both cities.
How can I get help starting a small business in St. Louis, MO?
St. Louis has a reputation for being a supportive community with a commitment to uplifting small businesses.
Here's a list of local resources to help you get started:
- The St. Louis, Missouri government provides business license and grand funding information.
- St. Louis County Library offers databases, online courses, and resources for entrepreneurs.
- St. Louis Business Empowerment Center connects business owners with resources such as coaching, funding, and education.
- SCORE St. Louis provides mentorship and learning opportunities for small business owners.
- The Missouri Small Business Development Center (SBDC) offers classes and coaching for small business owners, including startups and tech companies.
- The U.S. Small Business Administration (SBA) is a trusted source for small business loans with competitive rates and fees.
Many lenders will require you to first obtain business insurance before they will allow you to secure funding.
How can I save money on St. Louis business insurance?
Missouri small business owners, from Kansas City to St. Louis, can save money on insurance by comparing quotes from different insurance companies. With Insureon, you can get free business insurance quotes from top-rated providers by filling out one easy application.
The following tips can also help you save on your small business insurance:
- Bundle policies for a discount. The most popular option is a business owner's policy.
- Choose less expensive policy options, such as lower limits or a higher deductible.
- Pick the right insurance coverage options to ensure you're protected. Many coverage options aren't legally required but will save you from expensive lawsuits or incidents. For example, employment practices liability insurance (EPLI) can protect your business in the event of an employment-related lawsuit.
- Focus on workplace safety. Fewer accidents means fewer claims, which helps keep your premium low.
Learn more about how to find cheap business insurance.