FREE Insurance Comparison

Call (855) 425-8122

for FREE insurance quotes by phone
Insurance | Free Online Insurance Quotes

Compare Insurance Quotes!

Compare Quotes from Top Companies and Save

What is business insurance?

What is business insurance?Business insurance is the form of protection that safeguards your livelihood against the myriad forms of disaster—big and small—that can strike business owners at any time.

From outside forces of nature to workplace accidents or lawsuits, business insurance protects your assets so that they may continue to grow well into the future.

Enter your zip code to compare online insurance quotes now!

As with any form of insurance, it’s best to shop around for the policy that best fits your needs for the best price. Finding insurance quotes has never been easier thanks to the Internet.

Type your zip code into the free box right here on this page to find a host of online insurance rates. When assessing your options, keep in mind the information presented in this article.

Is business insurance required?

Business insurance requirements vary from state to state. A majority of states have statutes on the books that require business owners to hold:

Other bodies that may require certain forms of business insurance include banks and financiers. Their requirements may include a variety of elements included under the business insurance umbrella.

What does business insurance cover?

There are many forms of business insurance from which you can pick and choose based on your situation. The type of operation you run, combined with the requirements of your state and any organizations that you are financially beholden to, will dictate the breadth of your policy. The cost of business insurance will depend on these same factors.

Liability Business Insurance

Businesses registered as either LLCs or corporations come with their own protections that prevent business owners from having their private assets threatened by business-related problems. Business insurance comes in as a way to protect the assets of the business itself. Liability business insurance covers the business in the event of liability stemming from accidents or errors that involve contracts, business products, and employee safety.

General liability insurance helps to protect its holders from liability in accidents related to the business. It covers:

  • Injuries
  • Damage to property
  • Legal fees
  • Settlements

Product liability insurance comes into play when a business manufactures or sells a product that could potentially cause someone harm if the product is defective. Professional liability insurance is like product liability insurance except that it covers services instead of products. Negligence and malpractice are two areas covered by professional liability insurance.

Free Car Insurance Comparison

Compare Quotes From Top Companies and Save

Property Insurance

Property insurance is the form of business insurance that covers the loss of property and/or that property’s ability to generate income. Property insurance most often manifests itself as an “all risk” policy or a “peril specific” policy. An all risk policy covers many different types of dangers, while a peril specific policy is targeted to certain threats that may be specific to one’s line of business or location. Specific perils can be naturally occurring, like floods, or man-made, as in the case of vandalism or other criminal activity.

Another danger that may be covered under some policies is that of business interruption. This comes into play when a business must close because of any of the perils against which the owner is insured. It compensates the business for any net profits lost and for expenses that must continue to be paid even while the business is closed.

Home Based Business Insurance

A certain level of protection may be afforded to home businesses by the homeowner’s insurance policy. However, many business owners who rely on that coverage alone find themselves woefully vulnerable when an emergency arises. Most homeowner’s insurance policies don’t cover business related liability.

When it comes to damages that are, in fact, covered, the average home insurance policy will pay out less than $3,000 for accidents that occur at the site of the home based business. It is unlikely to cover any significant amount when it comes to business-related damages occurring away from the home. For this reason, home business owners are wise to look into the forms of business insurance detailed above.

Business Owners Policy (BOP)

A Business Owners Policy is often a good choice for businesses that do not exceed 100 employees or $5,000,000 in sales. This package ties together several forms of insurance, including liability insurance, property insurance, and income loss coverage. These policies, which are created specifically for small businesses, are often customizable.

Where can I find business insurance for my company?

Just type your zip code into the free box on this page to gain access to business insurance quotes from many respected insurance providers. The quote comparison tools will help you narrow down your search to those companies that are the best suited to provide the coverage you need.

Compare business insurance quotes today!

Compare Insurance Quotes!

Compare Quotes from Top Companies and Save