QuotelyraUnderstanding business insurance
Business insurance can combine multiple policies and endorsements to address property, liability, vehicles, employees, professional services, cyber events, and other exposures. Coverage needs vary widely by industry, location, contracts, revenue, payroll, and operations.
Coverage options to discuss
General liability
May address certain third-party bodily injury, property damage, and personal or advertising injury claims.
Commercial property
May protect buildings, equipment, inventory, furniture, and other covered business property.
Business owner’s policy
A BOP may package eligible property and liability coverages for qualifying small businesses.
Workers’ compensation
May provide statutory benefits for covered work-related injuries or illnesses and is required in many situations.
Professional and cyber coverage
Depending on the business, errors and omissions, professional liability, cyber liability, data breach, or technology coverage may be important.
Commercial auto
May cover vehicles owned or used by the business, subject to vehicle, driver, and operational details.
What may affect availability and price?
- Industry, services, and business activities
- Annual revenue, payroll, and number of employees
- Property values, locations, and equipment
- Contracts, customers, and subcontractor use
- Claims history and years in business
- Coverage limits, deductibles, and carrier appetite
Frequently asked questions
Common details include legal business name, entity type, address, operations, revenue, payroll, employees, vehicles, property values, contracts, and claims history.
No. Eligibility and coverage vary. Some businesses need separate or specialized policies.
No. Certificates of insurance are issued after coverage is bound by an authorized insurer or agent.