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Business Insurance in Montana
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Recommended insurance policies for small businesses in Montana
General liability insurance
This policy is important for all Montana businesses. It covers common risks, including customer injuries. Most commercial leases require this business liability insurance.
BEST FOR
- Customer bodily injuries
- Damaged customer property
- Libel and other personal injuries
Professional liability insurance
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.
BEST FOR
- Work mistakes and oversights
- Professional negligence lawsuits
- Late or incomplete work
Cyber liability insurance
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.
BEST FOR
- Customer notification expenses
- Fraud monitoring services
- Data recovery costs
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 commercial insurance for a Montana business.
BEST FOR
- Customer injuries
- Damaged customer property
- Damaged business property
Workers’ compensation 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.
BEST FOR
- Employee medical expenses
- Disability benefits
- Legal fees from employee injuries
Commercial auto insurance
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.
BEST FOR
- Accidents involving commercial vehicles
- Theft of a business vehicle
- Damage to a company vehicle
Looking for different coverage? See more policies.
Montana business insurance requirements
State laws can affect which business insurance coverage you need. These policies are required everywhere in Montana, from Helena to Billings.
Workers' compensation insurance
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.
Commercial auto insurance
All business-owned vehicles in Montana must be covered by commercial auto insurance. This policy covers the cost of accidents involving work vehicles.
Montana's minimum requirements for auto liability insurance are:
- $25,000 bodily injury liability per person
- $50,000 bodily injury liability per accident
- $20,000 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 commercial general liability insurance or a business owner's policy (BOP).
How much does small business insurance cost?
Commercial insurance can be affordable for Montana small business owners. Factors that influence the cost include:
- Type of business
- Business operations and revenue
- Number of employees
- Types of insurance products purchased
- Claims history
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Find the right policies and get your certificate of insurance
Insureon's licensed agents can help you find policies that fulfill Montana's requirements and your business insurance needs. Once you've purchased insurance with us, you can download a certificate of insurance by logging into your account.
In Montana, insurance agencies, agents, and brokers are licensed by the Montana Office of the Commissioner of Securities & Insurance. Insureon is licensed in Montana as BIN Insurance Holdings LLC (NPN 15752926) for property and casualty insurance and for surplus lines (license number 730298). Verify our licensure with the National Association of Insurance Commissioners: select Montana, licensee, business entity, and then enter our NPN or license number.