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Do I need business insurance?
Insurance can help financially protect you from a variety of risks that could cost your business thousands. We can help find coverage for 400+ small businesses, including these:
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Choose among affordable policies, many with savings up to 20% and monthly payment options.*
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Your one stop for the coverages home-based businesses often need
General Liability Insurance
A foundational coverage for home-based businesses to help handle costs from third-party accidents, property damage, and bodily injury.
Professional Liability Insurance
Also known as errors and omissions insurance, this coverage can help handle damages and legal costs for mistakes or negligence claims. This policy is often recommended for home-based businesses that provide advice and guidance to their clients. It also can cover errors that result in unsatisfactory work.
Workers’ Compensation Insurance
Coverage to help take care of owners and employees who get sick or injured on the job. Many states require this for businesses with full or part-time employees. Can also benefit business owners without employees.
Equipment and Business Property Insurance
Also known as Inland Marine insurance, this coverage can financially protect equipment and inventory that’s being transported or stored offsite.
Frequently asked questions
Do I need business insurance?
Insurance can financially protect the business you’re building. Without it, you may have to pay out-of-pocket for property damage, accidents, or lawsuits. In some cases, clients may require that you have insurance before hiring you. Some coverages, such as workers compensation, may be legally required in your state.
How much does business insurance usually cost?
Your insurance cost is largely determined by the type of work you do, the kinds of risks you’re exposed to, and the number of employees you have on your payroll.
Some other factors can include where your business is located, how many years of experience you have, and the financial stability of your operation.
We can help find the coverages and prices for your business right here.
Is insurance for home-based businesses required by law?
Most states require you to carry workers’ compensation insurance if you have employees. There also may be licensing requirements that require certain liability coverages. As for other home-based business insurance requirements, we recommend checking with your state and local governments.
Why work with Simply Business?
We provide customized coverage options and quotes from top-rated small business insurers – all in just 10 minutes. More than 1 million small business owners worldwide trust us with their insurance, and we consistently earn high customer ratings and reviews.
Highly rated carriers. Handpicked for small businesses.
*20% savings calculation based on comparison savings on general liability policies. Actual savings may vary based on the nature of your business, its location, and insurance provider appetite. Savings percentage is calculated using the average price difference of quotes from the Simply Business panel of insurance providers. Monthly payment options dependent on carrier availability.