Top Business Insurance Coverage: What You Need to Know [2024]
The cost of doing business right includes having the right business insurance coverage. General liability insurance is $65 a month on average, but there are many other types of coverage needed. Find out additional costs and factors you should consider to obtain the best business quotes and get the best business insurance.
Free Business Insurance Comparison
Compare Quotes From Top Companies and Save
Secured with SHA-256 Encryption
Chris Abrams
Licensed Insurance Agent
Chris is the founder of Abrams Insurance Solutions and Marcan Insurance, which provide personal financial analysis and planning services for families and small businesses across the U.S. His companies represent nearly 100 of the top-rated insurance companies. Chris has been a licensed life and health insurance agent since 2009 and has active insurance licenses in all 50 U.S. states and D.C. Chr...
Licensed Insurance Agent
UPDATED: Mar 7, 2024
It’s all about you. We want to help you make the right coverage choices.
Advertiser Disclosure: We strive to help you make confident insurance decisions. Comparison shopping should be easy. We are not affiliated with any one insurance provider and cannot guarantee quotes from any single provider.
Our insurance industry partnerships don’t influence our content. Our opinions are our own. To compare quotes from many different insurance providers please enter your ZIP code above to use the free quote tool. The more quotes you compare, the more chances to save.
Editorial Guidelines: We are a free online resource for anyone interested in learning more about auto insurance. Our goal is to be an objective, third-party resource for everything auto insurance related. We update our site regularly, and all content is reviewed by auto insurance experts.
UPDATED: Mar 7, 2024
It’s all about you. We want to help you make the right coverage choices.
Advertiser Disclosure: We strive to help you make confident insurance decisions. Comparison shopping should be easy. We are not affiliated with any one insurance provider and cannot guarantee quotes from any single provider.
Our insurance industry partnerships don’t influence our content. Our opinions are our own. To compare quotes from many different insurance providers please enter your ZIP code above to use the free quote tool. The more quotes you compare, the more chances to save.
On This Page
If you own a business, you need proper insurance. Business insurance protects you and your business from risks and financial losses that come with certain events, like lawsuits, loss of income, injuries, and property damage. The best business insurance for your company will cover as many potential losses as possible and reimburse your business either fully or partially.
You will encounter several options as you search for proper insurance for your business. For example, some insurance companies offer several types of business insurance — like commercial and small business insurance and general liability insurance — while other insurance companies specialize in one or two coverage types.
- Business Insurance Company Reviews
- Lexington Insurance Company Review (2024)
- Lemonade Insurance Company Review (2024)
- United Guaranty Residential Insurance Company of North Carolina Review (2024)
- United Educators Insurance, a Reciprocal Risk Retention Group Review (2024)
- Claim Professionals Liability Insurance Company a Rrg Review (2024)
- City National Insurance Company Review (2024)
- Atlantic Casualty Insurance Company Review (2024)
- Atradius Trade Credit Insurance, Inc. Review (2024)
- West Bend Mutual Insurance Company Review (2024)
- Wausau Business Insurance Company Review (2024)
- Vault E&S Insurance Company Review (2024)
- Vantage Risk Specialty Insurance Company Review (2024)
- Westfield Insurance Company Review (2024)
- Vigilant Insurance Company Review (2024)
- White Pine Insurance Company Review (2024)
- WFG National Title Insurance Company Review (2024)
- Weston Property & Casualty Insurance Company Review (2024)
- Westfield Superior Insurance Company Review (2024)
- Westfield Specialty Insurance Company Review (2024)
- Westfield Premier Insurance Company Review (2024)
- Westfield National Insurance Company Review (2024)
- Wilmington Insurance Company Review (2024)
- Work First Casualty Company Review (2024)
- The Cincinnati Specialty Underwriters Insurance Company Review (2024)
- The Bar Plan Mutual Insurance Company Review (2024)
- Tesla General Insurance, Inc. Fka Newport Insurance Company Review (2024)
- Teachers Insurance and Annuity Association of America Review (2024)
- TDC National Assurance Company Review (2024)
- Truck Insurance Exchange Review (2024)
- Travelers Excess and Surplus Lines Company Review (2024)
- Travelers Constitution State Insurance Company Review (2024)
- Travelers Commercial Insurance Company Review (2024)
- Travelers Commercial Casualty Company Review (2024)
- Transverse Specialty Insurance Company Review (2024)
- Transverse Insurance Company Review (2024)
- Transguard Insurance Company of America, Inc Review (2024)
- Transatlantic Reinsurance Company Review (2024)
- Tokio Marine Specialty Insurance Company Review (2024)
- Thrivent Financial for Lutherans Review (2024)
- The Travelers Indemnity Company of Connecticut Review (2024)
- The Travelers Indemnity Company of America Review (2024)
- The Travelers Indemnity Company Review (2024)
- The Security Title Guarantee Corporation of Baltimore Review (2024)
- The Hartford Steam Boiler Inspection and Insurance Company of Connecticut Review (2024)
- The Hartford Steam Boiler Inspection and Insurance Company Review (2024)
- Swiss Re Corporate Solutions Premier Insurance Corporation Review (2024)
- SureTec Insurance Company Review (2024)
- Surency Life & Health Insurance Co. Review (2024)
- Sun Life and Health Insurance Company Review (2024)
- Superior Specialty Insurance Company Review (2024)
- Supreme Council of the Royal Arcanum Review (2024)
- SUNZ Insurance Company Review (2024)
- Sun Surety Insurance Company Review (2024)
- Summitpoint Insurance Company Review (2024)
- Summit Specialty Insurance Company Review (2024)
- SU Insurance Company Review (2024)
- Stonetrust Commercial Insurance Company Review (2024)
- Stewart Title Guaranty Company Review (2024)
- Starr Surplus Lines Insurance Company Review (2024)
- Starr Specialty Insurance Company Review (2024)
- Southern Pilot Insurance Company Review (2024)
- Southern Guaranty Insurance Company Review (2024)
- Southern Farm Bureau Life Insurance Company Review (2024)
- Sompo America Insurance Company Review (2024)
- Sons of Norway Review (2024)
- Society Insurance Review (2024)
- Sompo America Fire & Marine Insurance Company Review (2024)
- Slovene National Benefit Society Review (2024)
- SiriusPoint Specialty Insurance Corporation(F/K/a Sirius Specialty Insurance Corporation) Review (2024)
- SiriusPoint America Insurance Company(F/K/a Sirius America Insurance Company) Review (2024)
- Silver Oak Casualty, Inc. Review (2024)
- SILAC Insurance Company Review (2024)
- SFM Mutual Insurance Company Review (2024)
- Service Lloyds Insurance Company, a Stock Company Review (2024)
- Service American Indemnity Company Review (2024)
- Samsung Fire & Marine Insurance Co., Ltd (Us Branch) Review (2024)
- Sagamore Insurance Company Review (2024)
- Safeway Insurance Company Review (2024)
- Secura Supreme Insurance Company Review (2024)
- Rockwood Casualty Insurance Company Review (2024)
- Rockingham Specialty Inc Review (2024)
- Rockhill Insurance Company Review (2024)
- Richmond National Insurance Company Review (2024)
- Republic Indemnity Company of California Review (2024)
- Republic Indemnity Company of America Review (2024)
- Renaissance Reinsurance Us Inc Review (2024)
- Radian Mortgage Assurance Inc Review (2024)
- Radian Guaranty Inc. Review (2024)
- QBE Specialty Insurance Company Review (2024)
- QBE Reinsurance Corporation Review (2024)
- Professionals Advocate Insurance Company Review (2024)
- Protective Life and Annuity Insurance Company Review (2024)
- ProSelect Insurance Company Review (2024)
- Property-Owners Insurance Company Review (2024)
- Progressive Universal Insurance Company Review (2024)
- Progressive Commercial Casualty Company Review (2024)
- Professional Insurance Company Review
- Producers Agriculture Insurance Company Review (2024)
- ProAssurance Specialty Insurance Company Review (2024)
- ProAssurance Insurance Company of America Review (2024)
- Preferred Employers Insurance Company Review (2024)
- Poseidon Structured Mortgage Insurance Company Review (2024)
- Poseidon Mortgage Guaranty Company Review (2024)
- Poseidon Commercial Insurance Company Review (2024)
- PMI Mortgage Insurance Co. Review (2024)
- Princeton Insurance Company Review (2024)
- Princeton Excess and Surplus Lines Insurance Company Review (2024)
- Prime Insurance Company Review (2024)
- Previsor Insurance Company Review (2024)
- PMI Insurance Co. Review (2024)
- Polish Roman Catholic Union of America Review (2024)
- Polish National Union of America Review (2024)
- Polish National Alliance of the US of NA Review (2024)
- Point Specialty Insurance Company Review (2024)
- Point Insurance Company Review (2024)
- Premier Land Title Insurance Company Review (2024)
- Preferred Professional Insurance Company Review (2024)
- Plymouth Rock Assurance Preferred Corporation Review (2024)
- Plaza Insurance Company Review (2024)
- Plateau Casualty Insurance Company Review (2024)
- Pioneer Specialty Insurance Company Review (2024)
- Pioneer Mutual Life Insurance Company Review (2024)
- Pinnaclepoint Insurance Company Review (2024)
- Pinnacle National Insurance Company Review (2024)
- Plateau Insurance Company Review (2024)
- Patriot General Insurance Company Review (2024)
- Partner Life Reinsurance Company of America Review (2024)
- Partner America Insurance Company Review (2024)
- Partner Reinsurance Company of the u.s. Review (2024)
- Pennsylvania Manufacturers’ Association Insurance Company Review (2024)
- Pennsylvania Manufacturers Indemnity Company Review (2024)
- Pennsylvania Lumbermens Mutual Insurance Company Review (2024)
- Penn Millers Insurance Company Review (2024)
- Peninsula Insurance Company Review (2024)
- Peleus Insurance Company Review (2024)
- Pavonia Life Insurance Company of Michigan Review (2024)
- Penn-America Insurance Company Review (2024)
- Palomar Specialty Insurance Company Review (2024)
- Pacific Employers Insurance Company Review (2024)
- OMS National Insurance Company, Risk Retention Group Review (2024)
- OBI National Insurance Company Review (2024)
- OBI America Insurance Company Review (2024)
- Obsidian Specialty Insurance Company Review (2024)
- Oakwood Insurance Company Review (2024)
- Oak River Insurance Company Review (2024)
- NyLife Insurance Company of Arizona Review (2024)
- Normandy Insurance Company Review (2024)
- Navigators Specialty Insurance Company Review (2024)
- Nautilus Insurance Company Review (2024)
- Nau Country Insurance Company Review (2024)
- Nationwide Agribusiness Insurance Company Review (2024)
- Nationwide Affinity Insurance Company of America Review (2024)
- National Trust Insurance Company Review (2024)
- National Title Insurance of New York Inc Review (2024)
- National General Assurance Company Review (2024)
- National Fire and Indemnity Exchange Review (2024)
- National Fire & Marine Insurance Company Review (2024)
- Motorists Commercial Mutual Insurance Company Review (2024)
- Mutual of Enumclaw Insurance Company Review (2024)
- Munich Reinsurance America, Inc. Review (2024)
- Mitsui Sumitomo Insurance USA Inc. Review (2024)
- Mitsui Sumitomo Insurance Company of America Review (2024)
- Minnesota Lawyers Mutual Insurance Company Review (2024)
- Midwest Employers Casualty Company Review (2024)
- Midwest Builders Casualty Mutual Company Review (2024)
- Mid-Continent Casualty Company Review (2024)
- Mid-Continent Excess and Surplus Insurance Company Review (2024)
- Michigan Millers Mutual Insurance Company Review (2024)
- MGIC Assurance Corporation Review (2024)
- Mesa Underwriters Specialty Insurance Company Review (2024)
- Merchants National Insurance Company Review (2024)
- Merchants National Bonding Inc Review (2024)
- MEMIC Indemnity Company Review (2024)
- MEMIC Casualty Company Review (2024)
- Merchants Bonding Company (Mutual) Review (2024)
- MBIA Insurance Corporation Review (2024)
- Maxum Indemnity Company Review (2024)
- ADAM Test Post 3
- Massachusetts Mutual Life Insurance Company Review (2024)
- Markel Insurance Company Review (2024)
- Markel Global Reinsurance Company Review (2024)
- Maine Employers’ Mutual Insurance Company Review (2024)
- Main Street America Assurance Company Review (2024)
- Lexon Insurance Company Review (2024)
- Liberty Surplus Insurance Corporation Review (2024)
- KW Specialty Insurance Company Review (2024)
- Kinsale Insurance Company Review (2024)
- Key Risk Insurance Company Review (2024)
- Ironshore Specialty Insurance Company Review (2024)
- Ironshore Indemnity Inc. Review (2024)
- Iowa Mutual Insurance Company Review (2024)
- Infinity Standard Insurance Company Review (2024)
- Infinity Select Insurance Company Review (2024)
- Investors Title Insurance Company Review (2024)
- Investors Heritage Life Insurance Company Review (2024)
- Inverin Insurance Company Review (2024)
- Indiana Lumbermens Mutual Insurance Company Review (2024)
- Indiana Insurance Company Review (2024)
- Indemnity National Insurance Company Review (2024)
- Indian Harbor Insurance Company Review (2024)
- Infinity Insurance Company Review (2024)
- Infinity Casualty Insurance Company Review (2024)
- Infinity Auto Insurance Company Review (2024)
- Industrial Alliance Insurance and Financial Services Inc Review (2024)
- Independent Specialty Insurance Company Review (2024)
- Hiscox Insurance Company Inc. Review (2024)
- Hudson Excess Insurance Company Review (2024)
- HSB Specialty Insurance Company Review (2024)
- Hilltop Specialty Insurance Company Review (2024)
- Highview National Insurance Company Review (2024)
- Highlander Specialty Insurance Company Review (2024)
- HDI Specialty Insurance Company Review (2024)
- HDI Global Insurance Company Review (2024)
- Hawkeye-Security Insurance Company Review (2024)
- Grinnell Select Insurance Company Review (2024)
- Hartford Underwriters Insurance Company Review (2024)
- Harleysville Insurance Company Review (2024)
- Gulf Guaranty Life Insurance Company Review (2024)
- Guilford Insurance Company Review (2024)
- Guideone Specialty Insurance Company Review (2024)
- Guideone Insurance Company Review (2024)
- Guideone America Insurance Company Review (2024)
- Granite State Insurance Company Review (2024)
- Gray Surplus Lines Insurance Company Review (2024)
- Gotham Insurance Company Review (2024)
- Golden Rule Insurance Company Review (2024)
- Golden Insurance Company, a Risk Retention Group Review (2024)
- Golden Bear Insurance Company Review (2024)
- Gerber Life Insurance Company Review (2024)
- General Star Indemnity Company Review (2024)
- Genworth Life and Annuity Insurance Company Review (2024)
- Geico Marine Insurance Company Review (2024)
- Geico General Insurance Company Review (2024)
- Geico Casualty Company Review (2024)
- Geico Advantage Insurance Company Review (2024)
- GCU Review (2024)
- Frank Winston Crum Insurance Company Review (2024)
- Fortitude Life Insurance & Annuity Company Review (2024)
- Fortitude Casualty Insurance Company Review (2024)
- Fortegra Specialty Insurance Company Review (2024)
- Foremost Property and Casualty Insurance Company Review (2024)
- FMH AG Risk Insurance Company Review (2024)
- First Community Insurance Company Review (2024)
- First Chicago Insurance Company Review (2024)
- First American Title Guaranty Company Review (2024)
- Federated Rural Electric Insurance Exchange Review (2024)
- FCCI Insurance Company Review (2024)
- Farm Family Casualty Insurance Company Review (2024)
- Factory Mutual Insurance Company Review (2024)
- Executive Risk Specialty Insurance Company Review (2024)
- Executive Risk Indemnity Inc. Review (2024)
- Euler Hermes North America Insurance Company Review (2024)
- Everspan Insurance Company Review (2024)
- Everspan Indemnity Insurance Company Review (2024)
- Everlake Assurance Company Review (2024)
- Everest Reinsurance Company Review (2024)
- Employers Reassurance Corporation Review (2024)
- Employers Preferred Insurance Company Review (2024)
- Empower Annuity Insurance Company Review (2024)
- Enumclaw Property & Casualty Insurance Company Review (2024)
- Employers Insurance Company of Nevada Review (2024)
- Employers Compensation Insurance Company Review (2024)
- Eastern Advantage Assurance Company Review (2024)
- Eastguard Insurance Company Review (2024)
- Eastern Atlantic Insurance Company Review (2024)
- Eastern Alliance Insurance Company Review (2024)
- Developers Surety and Indemnity Company Review (2024)
- Dakota Truck Underwriters Review (2024)
- Crum & Forster Specialty Insurance Company Review (2024)
- Covington Specialty Insurance Company Review (2024)
- Consolidated National Insurance Company Review (2024)
- Consolidated Insurance Company Review (2024)
- Connecticut Attorneys Title Insurance Company Review (2024)
- Conifer Insurance Company Review (2024)
- Concord Specialty Insurance Company Review (2024)
- Concert Specialty Insurance Company Review (2024)
- Contractors Bonding and Insurance Company Review (2024)
- Consumer Specialties Insurance Company (Risk Retention Group) Review (2024)
- Concert Insurance Company Review (2024)
- Compwest Insurance Company Review (2024)
- Compbenefits Insurance Company Review (2024)
- Commonwealth Land Title Insurance Company Review (2024)
- Commercial Alliance Insurance Company Review (2024)
- Church Mutual Insurance Company, s.i. Review (2024)
- Colorado Casualty Insurance Company Review (2024)
- Colony Insurance Company Review (2024)
- Colonial Surety Company Review (2024)
- Chubb National Insurance Company Review (2024)
- Chubb Indemnity Insurance Company Review (2024)
- Colonial American Casualty & Surety Company Review (2024)
- College Risk Retention Group Inc Review (2024)
- Coface North America Insurance Company Review (2024)
- Coalition Nsurance Company Review (2024)
- Chubb Custom Insurance Company Review (2024)
- Chiron Insurance Company Review (2024)
- Blueshore Insurance Company Review (2024)
- Blue Hill Specialty Insurance Company Inc Review (2024)
- Caterpillar Insurance Company Review (2024)
- Chicago Insurance Company Review (2024)
- Bloomington Compensation Insurance Company Review (2024)
- CM Regent Insurance Company Review (2024)
- Champlain Specialty Insurance Company Review (2024)
- Cerity Insurance Company Review (2024)
- Capitol Specialty Insurance Corporation Review (2024)
- Century Surety Company Review (2024)
- Century Indemnity Company Review (2024)
- Camico Mutual Insurance Company Review (2024)
- California Insurance Company Review (2024)
- California Casualty Insurance Company Review (2024)
- California Casualty Indemnity Exchange Review (2024)
- California Casualty General Insurance Company of Oregon Review (2024)
- California Casualty & Fire Insurance Company Review (2024)
- Build America Mutual Assurance Company Review (2024)
- Buckeye State Mutual Insurance Company Review (2024)
- Brotherhood Mutual Insurance Company Review (2024)
- Bridgefield Employers Insurance Company Review (2024)
- Branch Insurance Exchange Review (2024)
- Bondsman Insurance Company Review (2024)
- Bond Safeguard Insurance Company Review (2024)
- BITCO General Insurance Corporation Review (2024)
- BHHC Special Risks Insurance Company Review (2024)
- Berkley Specialty Insurance Company Review (2024)
- Berkley Insurance Company Review (2024)
- Berkley Casualty Company Review (2024)
- Beazley Insurance Company Inc Review (2024)
- Beazley America Insurance Company Inc Review (2024)
- Bearing Midwest Casualty Company Review (2024)
- BCS Insurance Company Review (2024)
- Benchmark Insurance Company Review (2024)
- Ansur America Insurance Company Review (2024)
- Amtrust Insurance Company Review (2024)
- Assured Guaranty Municipal Corp. Review (2024)
- Assured Guaranty Corp. Review (2024)
- Association Casualty Insurance Company Review (2024)
- Associated Industries Insurance Company, Inc. Review (2024)
- Aspida Life Insurance Company Review (2024)
- Aspen Specialty Insurance Company Review (2024)
- Aspen American Insurance Company Review (2024)
- Ascot Insurance Company Review (2024)
- Artisan and Truckers Casualty Company Review (2024)
- Amguard Insurance Company Review (2024)
- Amfed National Insurance Company Review (2024)
- Amerisure Partners Insurance Company Review (2024)
- Amerisure Mutual Insurance Company (A Stock Company) Review (2024)
- Allstate Indemnity Company Review (2024)
- Allstate Fire and Casualty Insurance Company Review (2024)
- Allied World Surplus Lines Insurance Company Review (2024)
- Allied World Specialty Insurance Company Review (2024)
- Allied World Insurance Company Review (2024)
- Allied Property & Casualty Insurance Company Review (2024)
- Allianz Reinsurance America Inc Review (2024)
- Allianz Global Risks Us Insurance Company Review (2024)
- American Contractors Insurance Company Risk Retention Group Review (2024)
- American Contractors Indemnity Company Review (2024)
- American Commerce Insurance Company Review (2024)
- American Business & Mercantile Insurance Mutual, Inc. Review (2024)
- American Builders Insurance Company Review (2024)
- AIX Specialty Insurance Company Review (2024)
- AGCS Marine Insurance Company Review (2024)
- Alaska National Insurance Company Review (2024)
- Accident Fund National Insurance Company Review (2024)
- 21st Century Premier Insurance Company Review (2024)
- 21st Century North America Insurance Company Review (2024)
- 21st Century Insurance Company Review (2024)
- 21st Century Centennial Insurance Company Review (2024)
- Geico Choice Insurance Company Review (2024)
- Progressive Premier Insurance Company of Illinois Review (2024)
- The Order of United Commercial Travelers of America Review (2024)
- Swiss Re Corporate Solutions Elite Insurance Corporation Review (2024)
- Swiss Re Corporate Solutions Capacity Insurance Corporation Review (2024)
- Swiss Re Corporate Solutions America Insurance Corporation Review (2024)
- Sutton Specialty Insurance Company Review (2024)
- State Volunteer Mutual Insurance Company Review (2024)
- State Farm General Insurance Company Review (2024)
- Excess Share Insurance Corporation Review (2024)
- Evergreen National Indemnity Company Review (2024)
- Business Insurance
- Westminster American Insurance Company Review (2024)
- Financial Guaranty Insurance Company Review (2024)
- Final Reinsurance Company Review (2024)
- Financial Casualty & Surety, Inc. Review (2024)
- Ascot Surety & Casualty Company Review (2024)
- American Agricultural Insurance Company Review (2024)
- American Agri-Business Insurance Company Review (2024)
- Allied Eastern Indemnity Company Review (2024)
- American Equity Specialty Insurance Company Review (2024)
- American Alternative Insurance Corporation Review (2024)
- Accredited Surety and Casualty Company, Inc. Review (2024)
- Fidelity Life Association a Legal Reserve Life Insurance Company Review (2024)
- United Financial Casualty Company: Customer Ratings & Reviews [2024]
To find cheap business insurance, compare business insurance quotes from several insurance companies once you determine the types of business insurance coverage you need for your business. Comparing quotes for business insurance can help you avoid paying too much for your company’s insurance in monthly or annual rates.
What are the different types of business insurance?
Business insurance doesn’t have to be tricky, but it may seem daunting when you first attempt to determine which type of coverage you need for your company. There are a few options to choose from when considering business insurance, including:
- Commercial insurance
- Small business insurance
- Liability insurance
- Property insurance
- Workers’ compensation insurance
You may need multiple types of coverage depending on the nature of your business.
Read more:
- Accident Fund General Insurance Company Review
- Ansur America Insurance Company Review
- Association Casualty Insurance Company Review
- Assurance Company of America: Customer Ratings & Reviews
- Best Commercial Auto Insurance for Businesses
- Capitol Indemnity Corporation: Customer Ratings & Reviews
- Capitol Specialty Insurance Corporation Review
- Centennial Insurance Company: Customer Ratings & Reviews
- Equity Insurance Company Review
- Euler Hermes American Credit Indemnity Company: Customer Ratings & Reviews
- First Chicago Insurance Company Review
- First Guaranty Insurance Company: Customer Ratings & Reviews
- Foremost Property and Casualty Insurance Company Review
- Fortegra Specialty Insurance Company Review
- Fortitude Casualty Insurance Company Review
- Fortitude Life Insurance & Annuity Company Review
- Greater New York Mutual Insurance Company Review
- Grinnell Select Insurance Company Review
- Grinnell Mutual Reinsurance Company Review
- Grinnell Mutual Reinsurance Company Review
- Guideone Elite Insurance Company Review
- Guideone National Insurance Company Review
- Guideone Specialty Insurance Company Review
- Guilford Insurance Company Review
- Gulf Underwriters Insurance Company Review
- Harleysville Insurance Company of New York Review
- Harleysville Preferred Insurance Company Review
- Inverin Insurance Company Review
- Merchants Mutual Insurance Company Review
- MIC Property and Casualty Insurance Corporation Review
- Mid-Continent Excess and Surplus Insurance Company Review
- Midwest Family Mutual Insurance Company Review
- Midwest Insurance Company Review
- Minnesota Lawyers Mutual Insurance Company Review
- Mitsui Sumitomo Insurance Company of America Review
- Navigators Insurance Company: Customer Ratings & Reviews
- North American Capacity Insurance Company Review
- North American Elite Insurance Company: Customer Ratings & Reviews
- Pacific Specialty Insurance Company Review
- Pacific Star Insurance Company Review
- Progressive Premier Insurance Company of Illinois Review
- QBE Insurance Corporation Review
- Rockhill Insurance Company Review
- Rockingham Casualty Company Review
- Rockingham Specialty Inc Review
- Rockwood Casualty Insurance Company Review
- Security First Insurance Company Review
- Southern States Insurance Exchange Review
- Southern United Fire Insurance Company: Customer Ratings & Reviews
- Silver Oak Casualty, Inc. Review
- SiriusPoint America Insurance Company(F/K/a Sirius America Insurance Company) Review
- Specialty Surplus Insurance Company Review
- Starr Surplus Lines Insurance Company Review
- State Volunteer Mutual Insurance Company Review
- Swiss Reinsurance America Corporation Review
- TDC Specialty Insurance Company Review
- Tesla Property & Casualty, Inc. Fka Meritplan Insurance Company Review
- The Cincinnati Indemnity Company Review
- The Commerce Insurance Company Review
- The Service Insurance Company, Inc. Review
- The Travelers Protective Association of America Review
- Transguard Insurance Company of America, Inc Review
- Transverse Insurance Company Review
- Travelers Casualty and Surety Company of America: Customer Ratings & Reviews
- Travelers Commercial Insurance Company Review
- Travelers Constitution State Insurance Company Review
- U.S. Specialty Insurance Company: Customer Ratings & Reviews
- Union Insurance Company: Customer Ratings & Reviews
- U.S. Underwriters Insurance Company Review
- Union National Fire Insurance Company: Customer Ratings & Reviews
- United Security Assurance Company of Pennsylvania Review
- United States Fire Insurance Company: Customer Ratings & Reviews
- United States Liability Insurance Company Review
- Universal Underwriters Insurance Company: Customer Ratings & Reviews
- West American Insurance Company: Customer Ratings & Reviews
- Western National Assurance Company Review
- Westminster American Insurance Company Review
What is commercial insurance?
Commercial insurance is a type of coverage you can get to protect your business. Commercial insurance protects your business from bodily injury claims, cyber attacks, data breaches, and property damage claims. Learn more about the importance of cyber insurance for businesses here.
There are several types of commercial insurance that business owners may need. For example, general liability insurance and workers’ compensation insurance fall under commercial insurance coverage since they’re useful for business owners and companies. (For more information, read our “Advantage Workers Compensation Insurance Company: Customer Ratings & Reviews“).
Business owners need to choose the types of commercial insurance coverage that best suit their needs. Some of the most common commercial insurance coverages include:
- Commercial auto insurance
- Commercial property insurance
- Commercial general liability insurance
- Workers’ compensation insurance
- Cyber insurance
- Business income insurance
- Business owner’s policy
Depending on the size and nature of your business, you may need several coverages to ensure you have proper protection from potential risks.
Read more: Top Commercial Auto Insurance Coverage: What You Need to Know
How is small business insurance different from commercial insurance?
Small business insurance often mimics a business owner’s policy, including general liability insurance, business income insurance, and commercial property coverage.
The purpose of insurance for small businesses is to protect the business from the financial responsibility associated with certain claims or losses. For example, small business insurance can help cover personal injury or property damage claims.
Small business insurance often covers incidents including:
- A customer slipping and falling on the business property.
- An employee causing damage to someone’s personal property.
- An employee getting injured while performing work-related tasks.
Small business owners must ensure their coverage helps with workers’ compensation claims. Otherwise, business owners may have to pay for medical expenses and lost wages out of pocket.
Small business insurance is commercial insurance, but the limits of a small business insurance policy may be much less than for a larger company. If you aren’t sure what types or amounts of insurance you need for your small business, you can research online and speak with an insurance professional to learn more.
What is liability insurance?
A general liability policy for a company is extremely important. Liability insurance coverage helps your business when certain insurance claims occur. General liability insurance often covers:
- Bodily injury
- Property damage
- Personal injury
If someone were to file an auto insurance claim against your business for one of the three reasons listed above, your insurance policy will help pay for repairs or medical bills. General liability insurance also pays for the costs associated with lawsuits for the above reasons.
In general, a liability policy for your company will help if:
- Someone files a property damage claim against your business.
- Someone files a claim against your premises liability insurance.
- You have to go to court to settle certain disputes or claims.
- You need administrative assistance to handle certain disputes or claims.
Read more: What does premises liability insurance cover?
General liability doesn’t cover the following:
- Commercial car accidents
- Workers’ compensation claims
- Employee illnesses
- Damage to your business property
If you own a business, liability coverage is extremely important. You can find coverage and compare quotes for business liability insurance to ensure you’re properly covered if anything happens.
What’s property insurance?
Property insurance offers coverage for property protection coverage for a business. In general, property insurance may include helps protect commercial property from the following:
- Fire damage
- Theft
- Vandalism
- Wind damage
- Flooding
- Earthquake damage
Essentially, a property insurance policy helps to protect a company’s physical assets. Like a home insurance policy, property insurance covers the costs of the damage from a covered event. Without property insurance, business owners may have to pay for repairs and replacements out of pocket.
What is workers’ compensation coverage?
Workers’ compensation insurance provides financial compensation and medical care for employees who get injured or sick because of their jobs.
Business owners pay for workers’ compensation insurance to cover the cost associated with an employee’s work-related injuries or illness. Requirements for workers’ compensation coverage vary from one state to another. So, the limits of your workers’ compensation policy will depend on where you live.
In addition to paying for medical care and lost wages associated with an employee’s work injury or illness, workers’ compensation protects business owners from civil suits associated with injuries or illnesses on a job site. Since business owners must carry workers’ compensation coverage, business owners who don’t will face serious penalties.
Compare Insurance Providers Rates to Save Up to 75%
Secured with SHA-256 Encryption
How much does business insurance cost?
The cost of coverage for your business depends on several factors. For example, if you live in a state requiring more coverage for workers’ compensation, your costs will be higher than those living in a state with lower coverage levels.
General liability insurance costs around $65 each month for a small business, while workers’ compensation costs around $115 a month. The cost of business insurance also varies depending on your business size. For example, if you own a larger company, you’ll pay more for insurance than a small business.
As you search for business insurance, comparing quotes from several companies is important. Comparing quotes can help you determine which insurance company offers the coverage you need for your business at a price that works with your budget.
How can I choose the right business insurance?
To choose a business insurance provider, you must consider several factors.
First, assess your legal responsibilities as a business owner. For example, what insurance are you required to have based on your business’s nature and state rules and regulations? Are there additional liabilities associated with your business you must consider?
If you don’t know your state’s requirements for liability coverage, consult a professional to ensure you carry proper coverage.
Next, consider any additional risks or liabilities associated with your business. Doing so can help you figure out exactly what types and how much coverage you need.
As you carefully examine the nature and function of your company — including human resource and facility management — you can better determine any risks associated with your business you may not have otherwise considered.
You may need to consider your plan of succession. For example, what will happen if the business owner passes away or can no longer provide their typical assistance or expertise? Many business owners can include succession planning in their business insurance to mitigate the loss associated with it.
Once you know the coverages you need, you can choose an insurance company to help you care for and protect your business.
The best way to choose business insurance for your company is to find and compare coverages and quotes from several insurance companies in your area. Comparing quotes and coverage ensures you get the coverage you need for your peace of mind without paying too much in monthly or annual premiums.
How can I compare business insurance options?
Comparing business insurance coverage options is easy. You simply need to determine what different companies offer in terms of coverage and whether those coverages meet your business needs. As you compare coverage options, you must also compare the cost of coverage with different insurance companies.
It may sound overly simple, but many business owners pay too much for coverage because they don’t take the time to compare quotes and find an affordable policy.
Compare Insurance Providers Rates to Save Up to 75%
Secured with SHA-256 Encryption
Business Insurance Coverage: The Bottom Line
You may feel overwhelmed by the possibilities as you shop for business insurance. Still, business insurance is not too complicated once you get started.
Your business needs liability and workers’ compensation coverage. Each state mandates the levels of coverage you need, so you can check with a state representative or expert to determine how much coverage you need for your business. In addition, you may need additional coverage for things like commercial auto insurance, so it’s important to assess how your business functions to avoid an insurance gap.
You can shop online to find and compare quotes for business insurance as you determine the types and amounts of business insurance you need. Comparing quotes for coverage will help you find the coverage you need at a price that works with your budget.
Frequently Asked Questions
What are the different types of business insurance?
The different types of business insurance include general liability, commercial property coverage, business income insurance, professional liability insurance, workers’ compensation insurance, data breach insurance, commercial umbrella insurance, and commercial auto insurance.
What’s the best business insurance for small businesses?
The best business insurance for small businesses depends on the risks associated with your specific business. Assessing the risks and consulting with an insurance professional can help determine the most suitable coverage.
How much does business insurance cost?
The cost of business insurance varies depending on factors such as the state requirements, the size of the business, and the specific coverage needed. On average, general liability insurance costs around $65 per month for a small business, while workers’ compensation insurance costs around $115 per month.
Do I need liability insurance for my business?
While your state may not require liability insurance, it is highly recommended to have it as part of your business insurance coverage. Liability insurance protects your business from liability claims and helps cover the costs associated with lawsuits.
What is workers’ compensation insurance?
Workers’ compensation insurance provides financial compensation and medical care for employees who are injured or become ill due to their job. It is a mandatory coverage for most businesses and helps protect both employees and employers.
Compare Insurance Providers Rates to Save Up to 75%
Secured with SHA-256 Encryption
Chris Abrams
Licensed Insurance Agent
Chris is the founder of Abrams Insurance Solutions and Marcan Insurance, which provide personal financial analysis and planning services for families and small businesses across the U.S. His companies represent nearly 100 of the top-rated insurance companies. Chris has been a licensed life and health insurance agent since 2009 and has active insurance licenses in all 50 U.S. states and D.C. Chr...
Licensed Insurance Agent
Editorial Guidelines: We are a free online resource for anyone interested in learning more about auto insurance. Our goal is to be an objective, third-party resource for everything auto insurance related. We update our site regularly, and all content is reviewed by auto insurance experts.