Policy types
Every major small business policy. What it covers, who needs it, and what it typically costs.
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Business Interruption Insurance
Replaces lost income and pays continuing expenses when a covered event forces your business to shut down — fire, natural disaster, equipment failure, or other physical loss.
from $40/mo avg cost -
Business Owners Policy (BOP)
A Business Owners Policy (BOP) bundles general liability, commercial property, and business interruption coverage into a single package for small and mid-sized businesses, usually at a lower cost than buying each policy separately.
from $600/mo avg cost -
Commercial Auto Insurance
Commercial auto insurance covers vehicles owned, leased, or used by a business — including cars, trucks, vans, and trailers — for third-party bodily injury and property damage liability, plus optional physical damage coverage for the vehicle itself.
from $375/mo avg cost -
Commercial Property Insurance
Commercial property insurance pays to repair or replace a business's building, equipment, inventory, furniture, and other physical assets when they are damaged by covered perils such as fire, theft, wind, or vandalism.
from $350/mo avg cost -
Commercial Umbrella Insurance
Commercial umbrella insurance provides an additional layer of liability coverage that sits on top of underlying general liability, commercial auto, and employer's liability policies — paying claims that exceed the underlying policy limits.
from $400/mo avg cost -
Cyber Liability Insurance
Cyber liability insurance covers the costs a business incurs from data breaches, ransomware attacks, and other cyber incidents — including forensics, customer notification, credit monitoring, legal defense, and regulatory penalties.
from $400/mo avg cost -
Directors & Officers Liability Insurance (D&O)
Directors and officers (D&O) liability insurance protects the personal assets of a company's directors, officers, and (often) the company itself from claims alleging wrongful acts in the management of the business — such as breach of fiduciary duty, misrepresentation to shareholders, or regulatory violations.
from $2000/mo avg cost -
Employment Practices Liability Insurance (EPLI)
Employment practices liability insurance (EPLI) pays legal defense costs, settlements, and judgments when a business is sued by an employee, former employee, or job applicant for wrongful termination, discrimination, harassment, or retaliation.
from $800/mo avg cost -
Equipment Breakdown Insurance
Covers mechanical, electrical, and electronic breakdowns of business equipment — exposures that commercial property and inland marine policies specifically exclude.
from $20/mo avg cost -
General Liability Insurance
General liability (GL) insurance protects a business from third-party claims of bodily injury, property damage, and personal or advertising injury arising from its operations, premises, or products.
from $265/mo avg cost -
Inland Marine Insurance
Coverage for tools, equipment, inventory, and goods while in transit or at temporary job sites — exposures that standard commercial property does not cover.
from $20/mo avg cost -
Product Liability Insurance
Covers third-party claims of bodily injury or property damage caused by defects in products your business manufactures, distributes, or sells.
from $35/mo avg cost -
Professional Liability / Errors & Omissions (E&O)
Professional liability insurance — also called errors and omissions (E&O) insurance — covers claims that a business's professional advice, services, or work caused a client financial loss due to a mistake, oversight, missed deadline, or failure to deliver promised results.
from $400/mo avg cost -
Surety Bond
A three-party financial guarantee where a surety company guarantees performance of a contractual or licensing obligation. Required for most state contractor licenses and most large construction projects.
from $100/mo avg cost -
Workers' Compensation Insurance
Workers' compensation insurance pays medical expenses, lost wages, and disability benefits to employees who suffer work-related injuries or illnesses, and generally shields the employer from most employee injury lawsuits.
from $300/mo avg cost