No single small business insurance policy covers all risks. Different types of commercial insurance address different accidents, lawsuits, and damages that could impact a business. These policies address common risks.

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General Liability Insurance

This policy covers common business risks including bodily injuries, customer property damage, and advertising injuries. It's required for most commercial leases.

BEST FOR

  • Slip-and-fall accidents

  • Damaged customer property

  • Libel or slander lawsuits

Business Owner's Policy (BOP)

A BOP bundles commercial property insurance and general liability insurance under one plan. It's one of the most cost-effective commercial insurance policies.

BEST FOR

  • Customer injury

  • Damaged business property

  • Business interruption incidents

Professional Liability Insurance

This policy, also called errors and omissions insurance (E&O), can help cover legal expenses if a business is sued for unsatisfactory work.

BEST FOR

  • Professional negligence lawsuits

  • Project scope disputes

  • Work mistakes or oversights

Error and Omissions Insurance

E&O, sometimes called professional liability insurance, is common with professional services. It can cover legal costs of lawsuits related to work performance.

BEST FOR

  • Business disputes

  • Negligence accusations

  • Work errors

Commercial Property Insurance

This policy covers the value of a business's physical structure and its contents, such as inventory, equipment, and furniture.

BEST FOR

  • Fire

  • Theft or vandalism

  • Windstorms

Inland Marine Insurance

This policy provides property coverage for business items used in the field. It typically pays for property that has been lost, damaged, or stolen.

BEST FOR

  • Property in transit

  • Unique or valuable property

  • Property that transfers information

Cyber Liability Insurance 

This policy helps businesses survive data breaches and cyberattacks by helping pay for recovery expenses and associated costs.

BEST FOR

  • Data breach lawsuits

  • Breach notification expenses

  • Fraud monitoring costs

Business Interruption Insurance

This policy covers lost revenue, rent, and other day-to-day expenses when an event forces a business to temporarily stop operations.

BEST FOR

  • Lost revenue

  • Day-to-day expenses

  • Relocation costs

Product Liability Insurance

Included in general liability, this policy covers injuries or property damage caused by your product or completed service. It's also called products-completed operations coverage.

BEST FOR

  • Construction businesses and contractors

  • Manufacturers

  • Retailers and wholesalers

Commercial Umbrella Insurance

This policy provides additional coverage once another policy's limit is reached. It boosts coverage on your existing general liability insurance and other liability policies.

BEST FOR

  • Additional liability coverage

  • Additional workers' comp coverage

  • Additional commercial coverage

Directors & Officers Insurance

D&O insurance covers decisions made by directors, officers, and board members on behalf of the company. If they are sued, it may pay their legal expenses.

BEST FOR

  • Employment practices lawsuits

  • Mismanagement accusations

  • Defamation claims

Liquor Liability Insurance

This policy helps pay legal fees, settlements, and medical costs if alcohol is served or sold to a visibly intoxicated person who then harms others.

BEST FOR

  • Injuries caused by intoxicated patrons

  • Property damage by intoxicated patrons

  • Legal defense costs

Special Event Insurance

This policy combines liability and property coverages for events that occur outside of normal business activities.

BEST FOR

  • Business events

  • Fundraisers

  • Parties

Builder's Risk Insurance

This policy covers structures in progress and materials, often paying for damage caused by fire, vandalization, and non-severe weather events.

BEST FOR

  • Building construction

  • Building renovation

  • Worksite theft and vandalism

Surety Bond

Surety bonds assure a business's clients that an insurance company will reimburse their losses if the business fails to deliver contracted services.

BEST FOR

  • Failure to deliver services

  • Contract disputes

  • Incomplete work

Employment Practices Liability Insurance

This policy, also called EPLI, can cover legal expenses when an employee sues over discrimination, harassment, wrongful termination, and similar issues.

BEST FOR

  • Sexual harassment lawsuits

  • Discrimination claims

  • Mismanagement allegations

Contractor's Tools and Equipment

This policy covers the value of a contractor's lost, stolen, or damaged equipment.

BEST FOR

  • Equipment less than five years old

  • Mobile equipment

  • Small tools