How to Get Insurance for Small Business and Why It’s Important
Small business insurance
can help protect your business from liabilities and risks. This means it helps cover claims resulting from:
Without this coverage for your business, you’ll have to pay the cost of claims with your own assets. In many cases, this forces small business owners to close their company for good. So, if you’re wondering how to get small business insurance, keep reading.
You can find the right business insurance coverage for your company in as little as a day. To get started, some steps you can follow, include:
1. Gathering Information and Documents
Before you start, you’ll want to gather information like your:
Gross annual sales
Total number of employees
Tools and equipment used
2. Finding a Broker Online
To get the coverages you need, you can work with a broker online that specializes in small business insurance. You can get a quote
online to work with our specialists.
3. Reviewing Your Business with Your Insurance Representative
Discussing your business with your insurance representative can help you determine your needs and coverage limits. They can help you figure out your coverage options and premium rates.
4. Evaluating Your Coverage Options
It’s important to select your coverage based on your own research and the advice of experts. At a minimum, you’ll want business property coverage and polices that protect you from liabilities, like bodily injury. And if your business provides a professional service, getting professional liability insurance
can be helpful.
Do All Small Businesses Have Insurance?
Most small businesses need coverage because they face risks like:
Cybersecurity or data breaches
Most home-based companies should also carry small business insurance
. The best way to find the right coverage for you is to compare quotes from multiple insurance companies. To get started, g
et a quote
from us today.
8 Common Types of Small Business Insurance
Some key business insurance coverages to consider are:
General liability insurance
, or business liability coverage, which helps protect you from claims resulting from bodily injuries or property damage.
Data breach insurance
to help pay the costs of identity protection solutions, public relations and legal fees if your business loses sensitive information or it’s stolen.
Commercial auto insurance
to help cover the costs if you or an employee is in a car accident while driving for work purposes.
Business Owner’s Policy (BOP)
, which combines three essential coverages into one policy. Combining coverages makes it easier to manage and lets you make one payment for all three policies.
Coverages included in a BOP are:
General liability insurance
Commercial property insurance
Business income insurance
Consult a Small Business Insurance Expert Before Choosing Coverage
Not sure how to get business insurance
or what type of insurance you need? Our experts can help you assess your risks and make sure you buy a policy that fits your business and your budget.
How to Get Insurance for My Small Business Today
You can get business insurance from an insurance broker or licensed insurance company. Learn more about the protection your business needs by getting a quote