Key Insurance Types for Small Businesses
Running a small business exposes you to a range of risks. The most common policies include:
- General Liability – Covers bodily injury and property damage claims.
- Commercial Property – Protects office equipment, inventory, and building structure.
- Workers’ Compensation – Required in most states; covers employee injuries.
- Professional Liability – Also known as Errors & Omissions, protects against claims of negligence.
- Business Interruption – Reimburses lost income if your business is forced to close.
Assessing Your Risks
- Identify the primary activities of your business.
- Determine the value of your assets and inventory.
- Consider the number of employees and their roles.
- Review legal requirements in your state or industry.
Using the Comparison Tool
Enter your business details and desired coverage limits. The tool will generate quotes from multiple carriers, allowing you to compare premiums, deductibles, and coverage terms side‑by‑side.
Tips for Cost Management
- Bundle multiple policies for discounts.
- Maintain a strong safety program to reduce claims.
- Review and update coverage annually.
- Consider a higher deductible if you have a healthy risk tolerance.
Protect Your Business
With the right insurance mix, you can focus on growing your business while safeguarding against the unexpected.