Business Insurance

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Small Business Insurance Customized for You

You worked hard to build your business. To help keep it running smoothly, Simply Business offers the best small business insurance to protect it.

Here’s how it works: Compare free quotes from top insurers and pick the exact coverage you want. With just a few clicks, you can get insured in under 10 minutes, so you can get back to running your business.

Plus, monthly payment options make it easier to find coverage that fits your budget.

Ready to get started? Just answer a few easy questions to get your free business insurance quotes.

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What is Business Insurance?

Business insurance refers to the range of coverage that a business owner can buy to protect against losses and liabilities. From general liability coverage and workers compensation to professional liability policies, small business insurance is designed with one goal in mind: to protect you while you focus on running and growing your business.

Without this crucial protection, you could be leaving your business vulnerable to unexpected costs associated with accidents, property damage, mistakes, and injuries.

And if the worst happens, those costs could be catastrophic to your dream of running your own business. Consider this: The most costly claim is reputational damage, which could cost your business an average of $50,000 if you don’t have insurance coverage.

That means if a customer were to accuse one of your employees of spreading misinformation about them or sues you for slander, your business could be put in a serious financial hole.

Even the most common claim — burglary and theft — averages about $8,000. For most small businesses, that $8,000 could be significant enough to put them out of business.

It’s estimated that up to 40% of small businesses will file an insurance claim over the next decade. Even the most careful small business owner might find themselves facing a costly claim…

And that’s exactly why you should have insurance coverage.

Why Do I Need Business Insurance?

As soon as you decide to start a business, you need small business insurance. Without this coverage, you’re leaving yourself — not to mention your family and personal property — financially vulnerable to any damages, accidents, or injuries that happen throughout the course of doing business.

Need more convincing? Here are a few more reasons why you need business insurance:

  • It can help you get more customers, contracts, and projects, as many people won’t work with you if you’re not insured.
  • It prevents you from paying out of pocket for claims and lawsuits that potentially could put you out of business.
  • It can protect your full-time and part-time employees while they work for you, as they’ll be covered in the event of an injury or accident.
  • It may cover your tools + equipment if they’re lost or stolen.
  • It prevents you from paying out of pocket for costs associated with employee and client injuries, which potentially could be devastating to your business and personal finances.
  • It can help you stay on the right side of the law, as most cities and states require proof of business coverage in order to run a business.
  • It shows employees that you’re serious about your business, making it a lot easier for you to recruit and hire the best people in your industry.
  • It can meet legal requirements if you want to rent or lease a space for your business.
  • It covers any accidents or damages that happen in your home office (that’s right — your homeowners’ insurance doesn’t cover business-related incidents).

Don’t put your business or your personal assets at risk; business insurance can protect you, your family, and your employees.

Read our FAQ for more info: Do I need business insurance?

What Does Business Insurance Cover?

Business insurance is tailored to cover specific risks to your company. For example, if you’re a self-employed landscaper with no employees, your small business insurance may include general liability insurance and coverage for your tools.

If, however, you’re an accountant with two employees, your ideal business insurance policies should include professional liability coverage (to protect against mistakes) and workers compensation insurance.

No matter which type of business insurance you need, the end goal is the same: to provide you with comprehensive protection against the most common risks you face while running your business.

Types of Business Insurance

General Liability Insurance

GL insurance — which is also referred to as commercial general liability (CGL) insurance — covers costs associated with third-party accidents, property damage, and bodily injury. Without this type of coverage, your business may be responsible for those costs.

Learn more about general liability insurance.

Professional Liability Insurance

Professional Liability insurance provides coverage in the event a customer claims that your professional services resulted in some kind of negligence. If your customer sues your business for mistakes related to your services, your professional liability insurance policy may cover any damages and legal costs that you might be ordered to pay as a result of that negligence.

Learn more about professional liability insurance.

Workers Compensation

Workers compensation insurance covers the costs of lost wages, medical bills, rehabilitation expenses, and even death benefits. Carrying workers compensation can provide much-needed security, as having this coverage in place prevents an employee from suing your business for workplace injuries.

Learn more about workers compensation insurance.

The world of small business insurance can be confusing and complicated. But we know you didn’t start your business to spend your valuable time trying to figure out what coverage you need.

That’s why we’re here to help.

Just answer a few questions about your business to see what kind of coverage you may need.

Read our FAQ for more info: What type of business insurance do I need?

Building Your Small Business Insurance Policy

You can get business insurance right here through Simply Business! Whether you know exactly what coverage you’re looking for or you’ll need a little help, we’re here to make the process a lot easier.

You can get quotes from top insurance providers through our quote form, or you can give us a call to talk to a licensed insurance agent. No matter which option you choose, it’s our goal to provide you with the right insurance for your business.

Before starting your free quote, make sure you have the following information at hand so we can build the right coverage for you:

  • Your industry or trade
  • Your location
  • Number of employees
  • If you sell a product or offer a service
  • If you work on third-party properties
  • And more

Is Business Insurance Tax Deductible?

Good news: You can deduct both ordinary and necessary business insurance costs. That means your business insurance premiums could be tax deductible, provided you have specific coverage.

We recommend talking to a certified tax preparer or accountant for more information on how to deduct your insurance premiums when filing your annual taxes.

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