Business Insurance
Small businesses need insurance to protect themselves from a variety of risks, including natural disasters and lawsuits from employees and customers.
We'll help you find the right types ofbusiness insuranceto fit your needs (and your budget).
Recommended:Next Insuranceis dedicated to matching small businesses with the right policies at the best price.
How Much Will It Cost to Protect Your Business?
Insurance companies use several factors to calculate your monthly premium. Some of the well-known aspects include:
- Type of coverage
- Number of employees
- Geographical location of your business
- Industry
- Financial stability
- Existing safety and security features of your building, equipment, and/or vehicles
It’s estimated that small businesses pay anywhere from $14–$124/month for any one kind of insurance coverage.
Affordability is an important factor in choosing business insurance — take a look at ourlow-cost business insuranceguide to learn more about pricing. Below is a chart that shows you the average cost of popular types of coverage:
| Type of Policy | Average Monthly Cost | Average Annual Cost |
| General Liability Insurance | $30 | $360 |
| Commercial Property Insurance | $63 (median) | $756 (median) |
| Inland Marine Insurance | $14 (median) | $169 (median) |
| Cyber Liability Insurance | $123.75 | $1,485 |
| Business Interruption Insurance | $40 | $480 |
| Workers Compensation | $70 | 840美元 |
| Total Average Cost: | $340.75 | $4,090 |
Sources: AdvisorSmith, The Hartford, Hiscox, and Insureon
Compare Quotes Online
Use our dedicated small business insurance provider to generate a quick and accurate online quote created specifically for your small business.
Types of Business Insurance
Thetype of insuranceyour business needs will depend on what you do and the size of your business.
A good first line of defense — or rather, if you only were to choose one policy — then it should begeneral liability insurance. General liability will help protect your business against the most common risks like personal injury and property damage.
Other types of business insurance include:
Small Business Insurance by State
商业保险需求可以统计不同e by state. When looking at what business insurance you will need, as well as those that are highly recommended, be sure to familiarize yourself with your state’s requirements. Check out our guide onBusiness Insurance Requirements by State.
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Business Insurance FAQ
What is covered by business insurance?
Business insurance covers businesses from losses that can happen in the natural course of doing business. This can come from various situations, like property damage, lawsuits, loss of business income, bodily injury, fire, and more.
你选择得到什么取决于你的印第安纳州覆盖ustry and the different types of policies you choose to take on for your business.
Do I really need business insurance?
Businesses need insurance for several reasons. Depending on the state they operate in, businesses may be required to get specific types of insurance likeworkers’ compensation.
In addition to this, some businesses may refuse to work with you unless you carry your own insurance, as they do not want to assume the risks and liability for your work on their own insurance.
When do I get business insurance?
You should get business insurance when you start your business, especially if you plan to start doing business right away. This way, you can be protected from the very beginning from any lawsuits, property damages, costs associated with bodily injury, and anything else that could happen to your business.
How much should business insurance cost?
Thecost of business insurancefor a small business is typically between $700 and $3,800 a year, but this depends greatly on what types of insurance your business needs.
We recommend doing some research into the risks faced by your business and getting a business insurance quote from a trusted source.
Additional Resources
Learn more about business insurance for: