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Get business insurance | U.S. Small Business Administration Skip to main content Official websites use .gov A .gov website belongs to an official government organization in the United States. Secure .gov websites use HTTPS A lock ( Lock Locked padlock ) or https:// means you’ve safely connected to the .gov website. Share sensitive information only on official, secure websites. Get business insurance Business insurance protects you from the unexpected costs of running a business. Accidents, natural disasters, and lawsuits could run you out of business. Protect yourself with the right insurance. Content Pick the type of business insurance you need You get some protections from the kind of business structure you choose. A limited liability company (LLC) or a corporation status can protect your personal property from lawsuits. However, that protection has limits. Unexpected catastrophe? Business insurance can fill in any gaps in coverage. This will make sure both your personal and business assets are fully protected.. You also may be legally required to purchase certain types of business insurance. The federal government requires every business with employees to have the following: Workers’ compensation Unemployment Disability insurance Some states also require additional insurance. Laws requiring insurance vary by state. Visit your state’s website to find out the requirements for your business. Six common types of business insurance After you purchase insurance that's required by law, you can find insurance to cover any other business risk. As a general rule, you should insure against things you wouldn’t be able to pay for on your own. Speak to insurance agents to find out what kinds of coverage makes sense for your business. Then compare terms and prices to find the best deal for you. Here are six common kinds of business insurance to look for: Insurance type Who it's for What it does General liability insurance Any business This coverage protects against financial loss as the result of bodily injury, property damage, medical expenses, libel, slander, defending lawsuits, and settlement bonds or judgments. Product liability insurance Businesses that manufacture, wholesale, distribute, and retail a product This coverage protects against financial loss as a result of a defective product that causes injury or bodily harm. Professional liability insurance Businesses that provide services to customers This coverage protects against financial loss as a result of malpractice, errors, and negligence. Commercial property insurance Businesses with a significant amount of property and physical assets This coverage protects your business against loss and damage to company property due to a wide variety of events. These include fire, smoke, wind and hailstorms, civil disobedience and vandalism. Home-based business insurance Businesses that are run out of the owner’s personal home Coverage that’s added to homeowner’s
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