Business Insurance in Rhode Island

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What are the requirements for small business insurance in Rhode Island?

State laws can affect which insurance policies you need for your small business. These policies are required for Rhode Island businesses.

Workers' compensation insurance

With some exceptions, Rhode Island state law requires businesses with four or more employees, full-time or part-time, to carry workers’ compensation insurance. This policy covers medical bills for work injuries and illnesses.

Commercial auto insurance

All business-owned vehicles in Rhode Island must be covered by commercial auto insurance. Rhode Island requires $25,000 bodily injury liability per person, $50,000 bodily injury liability per accident, and $25,000 property damage liability per accident.

Though it's not required, personal vehicles driven for work purposes should be covered by hired and non-owned auto insurance, as personal auto policies usually exclude business use. It can be added to general liability insurance or a business owner's policy.

Recommended insurance policies for small businesses in Rhode Island

General liability insurance

This policy is important for all Rhode Island businesses. It covers common risks, including customer property damage and injuries. Most commercial leases require this coverage.

BEST FOR

Customer injuries at your business
Damaged customer property
Libel or slander lawsuits

Professional liability insurance

This policy, also called errors and omissions insurance, protects professionals whose work depends on their expertise. It covers client lawsuits over mistakes and missed deadlines.

BEST FOR

Work mistakes and oversights
Professional negligence lawsuits
Late or incomplete work

Cyber liability insurance

This policy helps Rhode Island businesses survive data breaches and cyberattacks by paying for client notification costs, legal fees, and other related expenses.

BEST FOR

Data breach lawsuits
Client notification expenses
Fraud monitoring costs

Business owner’s policy

This policy bundles property insurance and general liability insurance in one plan. It's often the most cost-effective type of commercial insurance for a Rhode Island business.

BEST FOR

Customer injuries
Damaged customer property
Damaged business property

Workers’ compensation insurance

Workers’ compensation insurance is required for Rhode Island businesses that have four or more employees. It can cover medical costs for work injuries and illnesses.

BEST FOR

Employee medical expenses
Partial missed wages
Lawsuits over employee injuries

Commercial auto insurance

This policy is required for business-owned vehicles in Rhode Island. It covers injuries and property damage in an accident, along with vehicle theft, vandalism, and weather damage.

BEST FOR

Accidents involving business-owned vehicles
Theft of a business-owned vehicle
Damage to a company vehicle

Looking for different coverage? See more policies.

How much does small business insurance cost?

Business woman calculating costs of insurance.

Commercial insurance can be affordable for a small Rhode Island business. Factors that influence the cost include:

Your industry and risk
Coverage limits
Location
Number of employees

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Insureon specializes in Rhode Island business insurance

In Rhode Island, insurance agents, agencies, and brokers are licensed by the Rhode Island Department of Business Regulation. Insureon is licensed in Rhode Island for property and casualty insurance as InsureOne Insurance Services America, LLC (NPN 18539837). You can verify our licensure with the National Association of Insurance Commissioners by selecting Rhode Island, Licensee, Business Entity, and then entering our Rhode Island state license number, 3000242345.

What our customers are saying

"I was confused about what type of coverage I needed and Holly was extremely helpful. Way more helpful than I had experienced with other companies. I got the exact coverage I needed!"

Jessica Shannon

Customer since 2016

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