Small Business Insurance Companies

Do you own a small business and are you thinking of getting business insurance? Learn more about the top 10 small business insurance companies that are available today in this article!

It is essential to do some business planning before opening a business. You must plan for the worst possible outcome, and there no way to know what the future holds. So you have to prepare for as many adverse outcomes as possible. And that’s when business insurance comes. Learn more about the importance of business insurance for small businesses now.

Is Business Insurance Required?

If your small business has employees, then you should know that most states will require to have workers’ compensation and unemployment insurance. Depending on where your business is located, you might also be required to have disability insurance.

But if you do now have any employees, you might want to opt for specific coverage such as a business owner's policy or BOP. A basic BOP will cover for general liability, damage to property, and business income.

How Much Should I Pay for Business Insurance?

Just like any other insurance policy, the cost for small business insurance will depend on a lot of factors such as your business location, type, annual revenue, size and years in business. The cost can also be determined by which small business coverage options are perfect for your business, and coverage limits, and even deductibles.

Top Reasons Why You Should Have Business Insurance

If you are a new business owner, you might be wondering why you should invest in protecting your business and assets. Well, here are the top reasons why you should consider getting business insurance:

1. Legal Requirement – As we have stated above, if you have at least one employee, you would need to provide worker’s compensation, unemployment insurance and disability insurance. Also, if you are renting a place for your business, your landlord may require you to hold renter’s insurance.

2. People These Days Like to Sue – People are becoming sue-happy these days. No matter what type of business you start, there would be a chance that you would encounter someone, at some point, that is unhappy with the business or service that you provide, and will engage you in a lawsuit.

If you do not have liability insurance, handling a lawsuit could be hard for a small business, even if the business were not found liable.

3. Can Protect Your Business in the Event of a Disaster – Having business insurance will protect your business from the most common disasters like fire, theft or even vandalism.

Picking the Right Small Business Insurance

When it comes to picking the perfect insurance for your business, the Insurance Information Institute recommends the following:

1. You must assess your risk, including every business property, equipment, and inventory.
2. Talking to a professional who knows the insurance industry is a wise move.
3. Make sure that the insurers that made your list have a good reputation, licensed and in a good financial condition to pay for claims when needed.
4. Use comparable coverage, exclusions, deductibles and limits when comparing rates.
5. Keep the rates low by implementing a risk management program that will minimize the losses from theft, injuries and fires.
6. Reviewing your risks and insurance every year is highly recommended.

Top 10 Small business insurance and Small business insurance websites as ranked by people like you

The Community ranked the best Small business insurance websites so that you can find what you need. Help improve the ranking by voting too.

Last updated: 2024-06-17



Description & Features




Business Insurance from Nationwide
Business Insurance from Nationwide
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15 Best Small Business Insurance Companies 2019
15 Best Small Business Insurance Companies 2019
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Business Insurance | Progressive Commercial
Business Insurance | Progressive Commercial
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General Liability Insurance - Protect Your Business | GEICO
General Liability Insurance - Protect Your Business | GEICO
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Business Insurance & Small Business Insurance Quotes ...
Business Insurance & Small Business Insurance Quotes ...
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Small Business Insurance | Insurance for Small Businesses
Small Business Insurance | Insurance for Small Businesses
Protect your company and employees with small business insurance from The Hartford. Over 1 million small businesses trust the Hartford. You can rest assured knowing that whatever your business coverage needs, The Hartford has the right insurance for your small business. Get started today.



What Is Small Business Insurance? | Allstate
What Is Small Business Insurance? | Allstate
Small business insurance, sometimes called commercial insurance, helps protect a business's assets, property and income. A business owners policy (BOP) is the most common policy for small businesses, according to the Insurance Information Institute. A BOP typically includes three basic types of coverage to help protect a business: business ...



Small Business Health Options Program |
Small Business Health Options Program |
Health insurance for your small business. Offering health benefits is a major decision for small businesses. Use as a resource to learn more about health insurance products and services for your small business and its employees. SHOP Coverage Other Coverage.



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Business Owners Policy - Get a BOP Insurance Quote | GEICO
Business Owners Policy - Get a BOP Insurance Quote | GEICO
GEICO Insurance Agency, Inc. has partnered with Hiscox Insurance to provide business insurance products. When you click on "Start Quote", "business owner's insurance quote", or "business owner's policy quote" you will be taken to the Hiscox website, which is not owned or controlled by GEICO.

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