Last Updated: May 30, 2024
Business
insurance protects you from the unexpected costs of running a business. Accidents, natural disasters, and lawsuits could run you out of business. Protect yourself with the right insurance.
Common Types of Business Insurance
Insurance Type
| Who It's For
| What It Does
| Learn More
|
|---|
|
General liability insurance | Any business | This coverage protects against financial loss as the result of bodily injury, property damage, medical expenses, libel, slander, defending lawsuits, and settlement bonds or
judgments. | Read more about liability insurance coverage in the
Consumer's Guide to Insurance for Small Business Owners. |
|
Product liability insurance | Businesses that manufacture, wholesale, distribute, and retail a product | This coverage protects against financial loss as a result of a defective product that causes injury or bodily harm. | Read more about product coverage in the
Consumer's Guide to Commercial Liability Insurance. |
|
Professional liability insurance | Businesses that provide services to customers | This coverage protects against financial loss as a result of malpractice, errors, and negligence.
| Read more about errors and omissions/professional liability coverage in the
Consumer's Guide to Commercial Liability Insurance. |
Commercial property insurance
| Businesses with a significant amount of property and physical assets | This coverage protects your business against loss and damage to company property due to a wide variety of events. These include fire, smoke, wind and hailstorms, civil disobedience and vandalism. | Read more about property insurance coverage in the
Consumer's Guide to Insurance for Small Business Owners. |
Home-based business insurance
| Businesses that are run out of the owner’s personal home
| Coverage that’s added to homeowner’s insurance as a rider can offer protection for a small amount of business equipment and liability coverage for third-party injuries.
| Read more about insuring your home business in the
Consumer's Guide to Insurance for Small Business Owners.
|
Business owner’s
policy
| Most small business owners, but especially home-based business owners
| A business owner’s policy is an insurance package that combines all of the typical coverage options into one bundle. They simplify the insurance buying process and can save you money.
| Read more about the business owner's policy in the
Consumer's Guide to Insurance for Small Business Owners.
|
Possible Insurance Requirements
Depending on the size and type of business, you may also need to have the following types of insurance:
Make sure to discuss your insurance with your agent and understand what your policy does and does not include.
We are here to help
Whether it is auto, health, home, or life insurance, our Consumer Affairs team is here to help you if you have a question or concern about your insurance policy or claim.
Phone: (800) 236-8517 or (608) 266-3585
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