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Protect your dream with small business insurance
You’re proud of what you’ve built, and so are we. Since 1985, we’ve been in the business of protecting families. Now we’re protecting your small business dream, too.
SelectQuote can help protect your small business
Managing a small business involves risk, investment and plenty of sweat equity. Keeping your business running smoothly depends on several factors, including making sure you’re protected from unfortunate accidents or situations out of your control. With commercial insurance, you can trust that your business can weather nearly any storm, from property damage to temporary closures and business interruptions. Shopping for small business insurance doesn’t have to be complicated. When you partner with SelectQuote, we connect you with trusted insurance companies who have been handling the coverage needs of small businesses for years. Because every business is different, we get to know your unique needs and can walk you through what kind of policy makes sense for you.Why do I need small business insurance?
Every business—from sole proprietorships and five-person teams to 50-employee firms—needs some form of insurance. Small business insurance policies protect you from liability and loss in the event of catastrophes both minor and major, including:Property damage
Customer data breaches
Accidents, including “slip-and-fall” incidents on your property
Workers compensation claims
Damage to customers’ property during the normal course of business
Whether you’ve been in business for ten minutes or ten years, the question you should ask as a small business owner isn’t, “Do I need small business insurance?” it’s “How much business insurance do I need?”
What kind of insurance does my small business need?
At a minimum, most companies need general liability insurance coverage. This kind of small business insurance coverage protects you in the event that a customer is injured or their property is damaged as a result of your normal business operations. But depending on your type of business, you may want to buy additional coverage. Businesses with fleets of vehicles, such as a plumbing or HVAC company, will also need commercial auto insurance coverage. Commercial real estate owners should purchase lessor’s risk only insurance, also known as landlord’s insurance. This coverage protects you from liability in the event that a tenant suffers injury or property damage, either through an accident on your property or due to some other kind of negligence on your part.For maximum protection, business owners should consider a business owner’s policy. This blanket insurance coverage bundles liability coverage, landlord’s coverage, and other types of small business insurance into one policy—often at a significantly discounted rate than buying individual policies.How much does small business insurance cost?
For all the protection it provides, small business insurance costs are fairly minimal. Total costs for your business can be impacted by several factors, including:Your claims history. Filing lots of claims or being party to several lawsuits will lead insurance companies to see you as a higher risk and charge higher premiums as a result.
The size of your insurance policy. Insurance premiums tend to rise as policy limits increase. Higher deductibles can lower your premiums.
Your business’s size and footprint. Every employee you hire increases risk. More drivers could increase the chance of a crash, for example. As your company grows, your policy may need to grow in kind.
Your industry. Risky industries, such as construction and excavating, tend to increase the costs of general liability pricing.
SelectQuote shops affordable business insurance for you
Owning a small business involves plenty of complicated decisions, but choosing an insurance company for your insurance coverage shouldn’t be one of them. SelectQuote helps you shop for your small business’s insurance policy by comparing rates from several companies at once. We present you with the options that make sense for your needs and help determine which policy offers the best balance of value and price. We’ll even ensure you understand the ins and outs of coverage to eliminate any surprises down the road. Let us help you shop for coverage so you can focus on what matters most: building your business.Protect your dream with SelectQuote
As a busy business owner, you likely don’t have time to focus on shopping for insurance. Let SelectQuote handle shopping for coverage that’s tailored to your unique needs without busting your budget. When you need small business insurance, shop for general liability coverage or a business owner’s policy with SelectQuote.We do the shopping. You do the saving.
