What is business insurance?
Business insurance is a group of commercial insurance coverages used to protect a company against different kinds of financial loss. A business may need liability coverage for third-party claims, property coverage for buildings and equipment, professional liability for services, workers compensation for employees, commercial auto for vehicles, cyber coverage for technology and data, and other policies based on its operations.
What business insurance does a company need?
The answer depends on the business model. An office consultant, restaurant, contractor, retailer, manufacturer, trucking company, landlord, and healthcare operation can have very different exposures even when revenue is similar. The useful starting point is the actual work performed, locations, employees, vehicles, contracts, property, data, products, and customer interaction.
Liability
General liability, professional liability, product liability, liquor liability, garage liability, and umbrella or excess can address different third-party claim scenarios.
Explore General Liability Insurance →Property & income
Commercial property, business income, equipment breakdown, inland marine, flood, and builders risk can protect physical assets and continuity.
Explore Commercial Property Insurance →People & operations
Workers compensation, employment practices liability, commercial auto, cyber, crime, and other specialty coverages may apply based on employees and operations.
Browse Business Coverage Options →How much does business insurance cost?
There is no single standard business insurance price. Industry, revenue, payroll, property values, location, vehicles, limits, deductibles, contracts, claims, security controls, and selected coverage can all change the premium and available markets.
Review Business Insurance Cost Factors →