• Commercial auto
  • Workers’ comp
  • General liability
  • Fleet insurance

Commercial auto

Commercial auto insurance provides liability and physical damage coverage for company-owned vehicles and those used for business purposes, including food trucks, dump trucks, trailers, limousines, buses and pickups.

Workers’ compensation

Workers’ compensation covers the medical bills of employees who get sick or injured on the job. It also provides partial lost wages if a staffer is unable to work for an extended period of time.

General liability insurance

General liability insurance, also called commercial general liability insurance, is one of the most common small business insurance policies. It covers businesses against third-party claims related to bodily injury, property damage and advertising injury. If your business gets sued, your policy also will cover your business’s legal fees and court costs, as well as a settlement or judgment against you.

Check out our detailed guide: General liability insurance

Fleet insurance

Commercial fleet insurance is for businesses operating two or more company vehicles, which can include everything from  cars, SUVs, heavy-duty trucks, buses to tractor-trailers. Fleet insurance covers injury and property damage should the driver of a company vehicle hurt someone or damage another’s vehicle or  property and, depending on the policy, can also cover damages to a business’s own fleet.

Check out our detailed guide: Fleet vehicle insurance

Commercial truck

Commercial truck insurance, depending on the policy, protects owner-operators, fleet owners, truck drivers and employees by covering the cost of injuries and property damage when one of their vehicles is in an accident, regardless of fault.

Check out our detailed guide: Commercial truck insurance

Business owner’s policy

A BOP, or business owner’s policy, is insurance that provides coverage for business interruption, liability and property risks in a package policy. These policies, often aimed at small businesses, are typically more affordable than buying multiple policies to cover those risks separately.

Check out our detailed guide: Business owner’s policy

Business liability

Business liability insurance protects your business from the financial fallout of claims due to injury, property damage, or reputational harm like libel or slander. If someone sues your business over an accident or harm they claim you caused, this insurance can help cover legal fees, settlements and medical bills.

Check out our detailed guide: Business liability insurance

Employer’s liability

Employer’s liability insurance protects businesses from employee lawsuits. If an employee sues for additional damages that workers’ comp doesn’t cover, EL shields your business from the financial impact.

Check out our detailed guide: Employer’s liability insurance

Which companies offer small business insurance?

In addition to the top five property and casualty insurance companies – State Farm, Progressive, Berkshire Hathaway, Allstate and Liberty Mutual – there are many companies that sell small business insurance, including:

The cost of small business insurance

The cost of insurance not only depends on the type of policy you want, but also on your location, the type of business you’re in, the number of workers you have, how much equipment you own and several other factors.

That said, Insureon.com, a small business insurance broker, provides these average costs for some of the more common business insurance policies:

General liability

$42 per month, or $500 a year

Property insurance

$67 per month, or about $800 a year

Business owner’s policy (BOP)

$57 per month, or about $680 a year

Professional liability/E&O

$61 per month, or about $730 a year

Commercial auto

$147 per month, or $1,760 a year

Helpful business insurance articles & guides

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