What is business insurance? Business insurance is not a single policy but a blanket term that refers to various commercial insurance coverages your business may need.

Is it necessary to have business insurance?Business insurance can help fill in the gaps to help protect your personal and business assets. Although many types of insurance are optional, property and casualty insurance issuggested if you own your own business.

What coverage can help a business?Numerous types of insurance can provide coverage to your business depending on yourneeds.

Business interruption insurancemay help pay the bills if you need totemporarily close after a damaging incident.

Commercial auto insuranceprovides a layer of protection against physical damage, liability and other risksto help your business afford the costs of accidents or other vehicle hazards.

Commercial property insurancemay help you repair or replace your physical property (e.g., building or possessions) ifyour commercial property sustains damage from a covered loss. 

Errors & omissions insurancemay help compensate your clients on behalf of your business if professional advice or mistakes cause them a financial loss.

General liability insurancemay help ifyour business causes property damage or bodily injuries to another party, such as a client or vendor.

Workers’ compensation insuranceprovides supplementary income to your employees during their recovery if they sustain a work-related injury or illness. Most states require employers to carry workers’ compensation insurance. 

Are other types of specific coverage available?Other policies may offer protection againstcertain risks and liabilities. These include cyber liability insurance, employment practices liability insurance (EPLI), inland marine insurance and umbrella liability insurance.

What does business insurance cost?Various factors influence business insurance prices. The commercial coverage you choose and your associated risk help determine your policy costs.