Business Insurance That Protects Your Business—Not Just a Policy

Most businesses need general liability insurance. Depending on your operations, you may also need commercial property, workers’ compensation, commercial auto, professional liability, garage keepers, or cyber liability insurance.

Some types of business insurance are legally required, such as workers’ compensation in many states and commercial auto insurance for business-owned vehicles. Local municipalities may require proof of liability coverage or bonds depending on the business. Other coverages may be required by contracts, leases, or clients.

General liability insurance helps cover claims related to bodily injury, property damage, and personal or advertising injury caused by your business operations, products, or services.

General liability covers physical injuries and property damage, while professional liability (also called errors and omissions insurance) covers claims related to mistakes, negligence, or professional advice.  It is common for doctors, attorneys, Insurance agents to carry Professional Liability but more often we are seeing it carried by Auto Mechanics, Plumbers and other trades people.

The cost of business insurance depends on factors like industry, payroll, revenue, number of employees, claims history, location, and coverage limits. Higher-risk industries typically pay more.

Independent contractors are not employees, but they may still need business insurance. Many clients require contractors to carry general liability or professional liability insurance and workers compensation before work begins.

Employee injuries are typically covered by workers’ compensation insurance, not general liability. Workers’ compensation helps cover medical costs and lost wages for work-related injuries.

A Business Owner’s Policy (BOP) bundles general liability and commercial property insurance into one policy, often at a lower cost than purchasing them separately. BOPs are common for small to mid-sized businesses.

Business insurance generally does not automatically cover subcontractors. Many policies require subcontractors to carry their own insurance and name your business as an additional insured. Furthermore, hiring a uninsured subcontractor could lead to costly audits on general liability and workers compensation policies.

Business insurance should be reviewed at least once a year or whenever your business changes, such as hiring employees, purchasing vehicles, expanding services, or increasing revenue.