What kinds of business insurance are there?
Type of insurance
When it protects your business
Who needs it
Find a provider
If a third party or their property is harmed as a result of your business activity.
All businesses. May be required by a landlord or contractor.
If you’re in an auto accident while working or in a company vehicle.
Businesses that use vehicles in their operations. May be required by law.
If an employee is injured on the job.
Businesses with employees. Required by law in most states.
If a client accuses you of making a mistake or giving them bad advice. This is also known as errors and omissions insurance.
Businesses that provide services for a fee. May be required by law or industry regulation.
If your manufacturing or retail space, office, or assets like equipment or inventory are damaged and need to be repaired or replaced.
Businesses with owned or rented space or a significant amount of property. May be required by a landlord.
If your business can’t generate revenue for a period of time.
Most businesses with recurring expenses.
If a product you manufacture, distribute or sell causes harm.
Businesses that manufacture, distribute or sell physical products.
How to find the best business insurance
If you need insurance quickly
- Chubb. Chubb also offers a full online experience, including getting quotes and purchasing policies, for common types of business insurance. You can buy a business owner’s policy, professional liability insurance and umbrella insurance online and add endorsements like data breach and employee dishonesty coverage.
If you want help from a professional
- Allstate. Allstate won top marks for customer satisfaction in the J.D. Power 2021 U.S. Small Commercial Insurance Study. You can get a quote online, work with an agent to customize your coverage and then manage your policy online.
- State Farm. State Farm boasts a large network of agents and insurance packages customized for dozens of industries. This insurer finished second for customer satisfaction in the 2021 J.D. Power study.
If you need a business owner’s policy
- The Hartford. The Hartford offers a straightforward business owner’s policy that includes general liability, commercial property and business interruption insurance. You can tack on data breach coverage and professional liability insurance, too.
- Hiscox. Hiscox offers a BOP with lots of useful add-on options, including business interruption insurance, electronic data loss coverage, hired and non-owned auto coverage and commercial crime insurance. However, note that coverage isn’t available in every state.
If you need commercial auto insurance
- Progressive. Progressive’s commercial auto insurance can cover cars, trucks, trailers and other business vehicles. The company offers customers access to a network of car and truck repair shops and round-the-clock service by phone or online.
- Geico. Geico insures box trucks, food trucks, pickups and more, though not semi trucks or tractor-trailers. Geico’s customer service hours are more limited than Progressive’s, and service and claims support is unavailable on Sunday.