Small businesses in Montana most often buy these types of insurance.
This policy is important for all Montana businesses. It covers common risks, including customer injuries. Most commercial leases require this business liability insurance.
All MT businesses that have employees must purchase workers’ comp insurance. This policy also protects sole proprietors from work injury costs that health insurance might deny.
This policy is required for business-owned vehicles in Montana. 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 Montana business.
This policy, also called errors and omissions insurance (E&O), protects Montana businesses that provide professional services or advice. It covers lawsuits related to work performance.
E&O, sometimes called professional liability insurance, is common with professional services in Montana. 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 Montana businesses that handle credit card numbers 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 can affect which business insurance coverage you need. These policies are required everywhere in Montana, from Helena to Billings.
Montana state law requires that all businesses with employees carry workers’ compensation insurance. This policy covers medical costs for work-related injuries and illnesses. It also provides disability benefits for injured Montana workers.
Visit the Montana Department of Labor & Industry for details.
Montana's minimum requirements for auto liability insurance are:
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 commercial general liability insurance or a business owner's policy (BOP).
Montana'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 and other professionals who offer advice or services sometimes need errors and omissions insurance (E&O; also known as professional liability insurance) to get licensed in their state.
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.