{"id":69,"date":"2023-10-13T13:16:07","date_gmt":"2023-10-13T13:16:07","guid":{"rendered":"https:\/\/businessyield.com\/ins\/?p=69"},"modified":"2023-10-13T13:22:36","modified_gmt":"2023-10-13T13:22:36","slug":"business-insurance-quotes-getting-insurance-quote-online","status":"publish","type":"post","link":"https:\/\/businessyield.com\/ins\/business-insurance\/business-insurance-quotes-getting-insurance-quote-online\/","title":{"rendered":"Business Insurance Quotes: Getting Insurance Quote Online"},"content":{"rendered":"

A business insurance quote is an estimate of what an insurance company will charge you for a specific type of insurance policy.<\/p>

Business insurance covers your business from unexpected losses e.g. if your equipment is stolen or you make a mistake and your clients decide to sue. As a business owner, self-employed consultant, or freelancer, you need to factor in certain risks in your day-to-day work. Depending on your profession you may need public liability insurance, professional indemnity insurance, contents insurance, or other types of cover. <\/p>

Business insurance is designed to protect you from the risks associated with running a business. It’s a catch-all term to describe a range of covers that protect your business from the risks it faces. <\/p>

Whether you\u2019re a sole trader, running a partnership, or a limited company, you’ll want to think about your business’s set of risks, and whether you want to cover them.<\/p>

Top business insurance policies<\/strong><\/span><\/h2>

General liability insurance<\/strong><\/h3>

General liability insurance covers common business risks like customer injury, customer property damage, and advertising injury. It protects your small business from the high costs of lawsuits and helps you qualify for leases and contracts.<\/p>

This business liability insurance coverage pays for legal costs if a customer trips and suffers an injury at your business, or if you accidentally damage someone’s property. This policy also covers personal and advertising injuries, such as libel and copyright infringement.<\/p>

Cyber insurance<\/strong><\/h3>

Cyber liability insurance, also called cybersecurity insurance, protects small businesses from the high costs of a data breach or malicious software attack. It covers expenses such as customer notification, credit monitoring, legal fees, and fines.<\/p>

A cyberattack isn’t just an inconvenience \u2013 it can put you out of business. Cyber insurance coverage helps your business recover from financial losses caused by cyberattacks and data breaches. It can pay for credit monitoring, attorney’s fees, fines, and other costly expenses.<\/p>

Commercial property insurance<\/strong><\/h3>

Also referred to as business hazard insurance, commercial property insurance pays to repair or replace stolen, lost, or damaged business property. It covers your business\u2019s physical location and other assets like equipment.<\/p>

Commercial property insurance protects against the risks of owning or renting an office, storefront, or other business property. It covers property losses when a fire damages your office, or a pipe bursts and floods your store.<\/p>

Errors and omissions insurance<\/strong><\/h3>

If you provide professional advice or services to clients, you likely need this policy.<\/p>

Errors and omissions insurance (E&O) helps cover the cost of a lawsuit if a client claims your work was inaccurate, late, or never delivered. It\u2019s sometimes called professional liability insurance. Your clients might require errors and omissions insurance in the terms of a contract. And it\u2019s strongly recommended for professionals who make a living off their expertise.<\/p>

This policy will cover legal defense costs related to the lawsuit, including court costs, settlements, and judgments. You\u2019ll typically pay a deductible, and your insurance provider will pay legal expenses up to your coverage limit.<\/p>

Commercial auto insurance<\/strong><\/h3>

If your company owns a car, you will very likely need commercial auto insurance. It covers legal bills, medical expenses, and property damage if a business vehicle is involved in an accident.<\/p>

You can rely on commercial auto insurance for financial protection if you or an employee needs medical care or faces legal expenses due to an automobile accident. If you don\u2019t carry commercial vehicle insurance, your business will be responsible for any medical bills and legal fees, which can get expensive.<\/p>

Business owner\u2019s policy<\/strong><\/h3>

If you own or rent a workspace, you likely need a business owner\u2019s policy (BOP).<\/p>

A business owner\u2019s policy (BOP) bundles general liability insurance with commercial property insurance. It typically costs less than if the policies were bought separately. Most small businesses need general liability insurance and commercial property insurance when they rent or own an office or other commercial space. On top of that, client contracts often require general liability coverage.<\/p>

Even when coverage isn\u2019t required, a BOP is a wise choice for small businesses that work directly with the public and own valuable business property. This policy protects against financial losses from customer accidents and incidents like fires and burglaries.<\/p>

Workers’ compensation insurance<\/strong><\/h3>

Workers\u2019 compensation insurance covers medical costs and lost wages for work-related injuries and illnesses. This policy is required in almost every state for businesses that have employees. It covers costs related to workplace injuries and illnesses, which can escalate quickly due to the high cost of medical care.<\/p>

While workers\u2019 comp laws vary by state, small businesses typically need a policy in place as soon as they hire their first employee (or a certain number of workers). Even when not required by law, this policy provides important protection against healthcare expenses and employee lawsuits related to workplace injuries, such as a slip and fall in the office, an injury from tools or machinery, or an occupational illness.<\/p>

You can also rely on workers\u2019 comp if you or an employee needs medical treatment or time off due to a workplace injury \u2013 or if an injured employee sues you for failing to prevent an accident.<\/p>

If you don\u2019t carry workers\u2019 comp insurance, your business will be responsible for any medical bills and legal fees. And most states levy costly penalties for noncompliance.<\/p>

Professional liability insurance<\/strong><\/h3>

Even the most experienced and thorough professional service provider makes mistakes. Unfortunately, clients may not be so understanding if your error costs them considerable time or revenue.<\/p>

Professional liability insurance, also called errors and omissions insurance, protects small businesses against the costs of client lawsuits over unsatisfactory work. It is designed for businesses that make a living off their expertise and helps protect you from lawsuits filed by unsatisfied clients.<\/p>

Commercial umbrella insurance<\/strong><\/h3>

Business owners who purchase commercial umbrella insurance usually need it to fulfill a contract that requests higher than standard policy limits. Once a policy\u2019s limit is reached, commercial umbrella insurance provides additional coverage for liability claims made on general liability, commercial auto, or employer\u2019s liability insurance.<\/p>

Commercial umbrella insurance offers extra liability coverage for the most expensive lawsuits. For example, if a covered lawsuit maxes out your general liability insurance policy but you still owe money for damages, business umbrella coverage can provide additional funds to make up the difference.<\/p>

Umbrella liability insurance can supplement your coverage provided by:<\/p>