Chelsey Tucker graduated with a Bachelor of History degree from Metropolitan State University in 2019. She now writes about insurance with her specialty being life insurance and has been quoted on Help Smart Phone and MEL Magazine.

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Dan Walker graduated with a BS in Administrative Management in 2005 and has been working in his family’s insurance agency, FCI Agency, for 15 years. He is licensed as an agent to write property and casualty insurance, including home, auto, umbrella, and dwelling fire insurance. He’s also been featured on sites like

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Reviewed by Daniel Walker
Licensed Auto Insurance Agent

UPDATED: Mar 19, 2020

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The easiest way to get business insurance coverage is with the free online rate tool provided. You may also wish to contact an experienced agent and have him or her advise you on the best policy.

Compare insurance quotes on business protection by entering your zip code immediately!

If you do decide to speak to an agent you may want to learn more about business insurance so that you don’t go in clueless and come out with several useless polices in your name. Being armed with rate quotes will let you now your price options up front.

Buy Insurance Before Accidents Happen

You may be feeling on top of the world right now. You have a product or service that is selling, you are making money, maybe even good money.

You might feel untouchable at this point. You could very well continue in business for years on end without an incident occurring. However, all it takes is one small incident to occur and that bubble can burst. Business insurance is designed to protect you from the “what ifs” of business:

  • What if a fire occurred in your home office?
  • What if a storm damaged your work vehicle?
  • What if an accident occurred that left you disabled and unable to run the office?
  • What if your product or service is defective?
  • What if you are sued?

Business insurance serves as protection against the unknown. Many states make it a legal requirement to have a certain amount of basic coverage for your new company. Liability and property insurance are a “must” for all companies that run their business from a commercial location, no matter how big or small the operation.

Every single business is going to be different when it comes to insurance needs. To decide what kind of business insurance policies your business should consider buying, consider these factors:

  • How many employees do you have?
  • Do you need workers comp?
  • Do you need professional liability?
  • Are there key persons the business could not function without?
  • Is there equipment that should be protected?

If you have several employees then you are going to need more liability insurance, as well as important things like workers compensation in case of any job related injuries. If you run a small business by yourself and are the only employee then such insurance policies may not be required.

That said, have you ever considered insuring your equipment? Business insurance should be tailored to the individual. You and your insurance agent must create a customized policy.

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The Importance of Risk Assessment

If you are concerned with the cost of business insurance, you should start by getting a risk management assessment. This report is usually given away for free by insurance companies and agencies. What this service does is report on your company, and makes mention of all possible risks.

From there, you can figure out what these potential risks might cost your company and how much financial burden this would place on your finances. This will help you find the right amount of coverage for you without under or over buying. Risk assessment can also point out easy-to-fix problems that you can correct, which in turn may help lower your premiums. For instance, warning labels, proper equipment, and better quality training can help keep your risk down.

Find an Affordable Policy Online

Most coverage items for small businesses are straightforward. As your business grows in employees, cars, machines and assets, your need for more insurance will grow too. Many policies allow you to add on and grow in protection right along with your company. This is a smart move, and all the more so if things are looking up for your company and growth is inevitable.

You know your business better than anyone. So start by getting several rate quotes for the type of coverage that you think you need. Don’t hesitate to use those quotes when talking to an agent if you have questions that still need to be answered. Getting the right type of business insurance is an investment that will pay off in the future of your business.

Enter your zip code, get instant business insurance quotes, and protect your company today!