LLC Insurance

LLC Protection Made Just For You

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Tailored LLC Business Insurance

If you run an LLC, you need business insurance that’s as unique as your business needs. After all, your LLC can help protect you from some liabilities - but is that enough for your peace of mind?

That’s where we come in.

At Simply Business, we build customized policies for LLCs like yours. You’ll get only what you need: a comprehensive policy that’s perfectly tailored to your business.

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What Is LLC Insurance?

LLC insurance is a type of coverage that protects LLC businesses from certain liabilities, like lawsuits and accidents. LLC insurance policies can include general liability coverage, especially for service-related businesses.

What Does LLC Insurance Cover?

If you get LLC insurance through Simply Business, we can tailor it to cover your exact needs. That means you’ll get the coverage that’s right for you and your business- that’s our promise!

Does an LLC Need Insurance?

Yes! Every business needs insurance, even limited liability corporations. While an LLC can shield you and your family from some personal liability, it still doesn’t provide 100% protection. General liability insurance can cover those gaps so your personal assets and finances aren’t at risk.

What Insurance Coverage Does a Limited Liability Company Need?

The type of insurance coverage you might need depends on your business. For example, if you provide customers with services, you may need general liability coverage. However, if you sell products, you may not need that coverage or you might need a different policy altogether.

Don’t worry - we can help you get the right coverage. Here’s what we usually recommend for LLC insurance requirements:

General Liability Insurance for Limited Liability Companies

General liability insurance for limited liability companies - also known as commercial general liability (CGL) or general liability - is a type of policy that covers you from financial and legal claims involving accidents, property damage, and even slander (yes really!).

If you organized your business as an LLC, that means you want to limit your personal liability as much as possible. General liability insurance helps fill in those gaps to ensure that your family, finances, and assets remain protected against claims and lawsuits.

Here’s what CGL insurance for LLCs could look like in action:

  • Property damage: If you end up accidentally damaging a client’s property while working, your general liability policy can cover the cost of repairs, as well as any resulting legal claims.

  • Accidents: If you caused an accident via negligence, your policy can cover legal claims and damages resulting from this accident. For example, if one of your ladders ends up falling out of your truck and damaging a client’s car, your CGL insurance can pay for this accident.

  • Reputational damage: If you end up saying something slanderous about a customer, client, or vendor, you could end up getting sued for what’s known as reputational damage. In this case, your general liability insurance may be able to cover your legal costs and resulting damages.

So what’s not typically covered by a general liability insurance policy?

  • Employee injuries
  • Tool theft
  • Damage to business materials
  • Lawsuits from employees

Learn more about commercial general liability insurance.

Workers Compensation Insurance For Limited Liability Companies

If you run an LLC but have employees or subcontractors on your payroll, you should have a workers compensation policy. This coverage protects your business in case an employee gets injured or sick on the job. Without workers compensation insurance, you could be personally responsible for an injured employee’s medical expenses.

Workers compensation insurance can protect you if:

  • An employee gets sick or injures himself while on the job
  • That employee decides to sue you for that injury

Learn more about workers compensation insurance here.

How Much Does LLC Insurance Cost?

Here at Simply Business, we typically base the cost of your LLC insurance on:

  • Your payroll
  • Your location
  • If you provide a product or a service
  • And more

Want to find out how much your LLC insurance will cost?

Click here to answer a few questions so we can help you learn how much you might expect to pay for your LLC insurance coverage.