NSHSS handpicks its partners carefully, searching for nonprofits, organizations, and companies that directly align with our mission to provide the best resources for our members and their families. This page contains affiliate links to partner programs. We may receive compensation for purchases made through these links, at no cost to you.
Business insurance is typically split up into a few different types that address different aspects of building, liability, and property coverage in detail. Your coverage needs can vary greatly depending on the type of business you own and a variety of other factors. However, there are some coverages that every business owner should be aware of and have in order to protect themselves and their business.
Coverage that protects you from a variety of claims including bodily injury, property damage, and personal injury from your business operations.
Business owners policy
Coverage that combines protection from all major property and liability risks in one package.
Coverage for employees against job-related injuries and illnesses. Worker's compensation can also cover certain medical expenses, lost income, and rehabilitation expenses.
Coverage for certain legal liability resulting from bodily injury or property damage caused by vehicles you use in your business.
Errors & omissions
Coverage that protects against mistakes made by professionals such as lawyers, architects, engineers, or for mistakes made in a service business, such as insurance, real estate, and more.
How do I determine what coverage is right for my business?
The coverage type and the amount of coverage your business needs depend on a variety criteria. First, for the type of coverage, ask yourself: would you like to protect your employees? Your vehicles? Your business property? Second, the level of coverage is determined by, among many different things, the industry you are in, revenue, location, regulatory requirements, business requirements, trade associations, number and type of employees, and assets. The goal is to maximize your protection while minimizing insurance costs.
Is insurance coverage different for different businesses?
Because businesses vary, it is impossible to have a standard policy to cover everything. Also, some businesses, regardless of their size, do not fit the profile of standard insurance policies. For example, restaurants, wholesalers, and auto shops have special liability needs that are not met in the standard policy. Many small businesses are now insured under package policies that cover the major property and liability exposures in addition to loss of income. A common package policy used by many small businesses is called the business owners policy (BOP). Generally, these packaged policies provide small business owners with more complete coverage, and at a lower price, than separate policies for each type of insurance. Our licensed agents can help you decide which policy or policies are right for your business. Additional coverage for property, liability or perils or conditions otherwise excluded (e.g., flood protection) can be purchased as endorsements add-ons to a standard policy.
How do I find the best business insurance rates for my company?
The first step to finding the best business insurance rates for your company is deciding what coverages and limits work best for your business. Once you know which coverages you need, we can help by getting you multiple quotes for multiple lines of business to find the best coverage at the best price!