Business Insurance FAQs

How much is small business insurance?

The cost varies widely based on factors like your business size, industry, location, number of employees, and the types of risks involved. Policies can start as low as a few hundred dollars per year but can be significantly higher for higher-risk businesses.

What is Business Insurance?

Business insurance is a broad term encompassing various policies that protect businesses from financial losses due to risks like accidents, property damage, lawsuits, and other liabilities.

Do I need Business Insurance?

Yes, most businesses need some form of insurance to protect against unexpected financial losses. The specific types of insurance required can vary based on your business activities and location.

What is Professional Liability Insurance?

Professional liability insurance, also known as errors and omissions (E&O) insurance, covers claims against businesses that provide professional and personal services. It’s for protection in cases of negligence, malpractice, or errors.

What does General Liability Insurance cover?

General liability insurance covers common business risks like bodily injury, property damage, and advertising injury. It can protect against claims that your business caused harm to a person or their property.

What is a Business Owners Policy?

A Business Owners Policy (BOP) combines business property and business liability insurance into one. It typically includes property insurance, liability protection, and often business interruption insurance.

What is Commercial Insurance?

Commercial insurance is designed to protect businesses from specific risks and liabilities. It includes a range of policy types like liability, property, workers’ compensation, and more, tailored to business needs.

Do I need General Liability Insurance or Professional Liability Insurance?

It depends on your business type. General liability insurance covers physical risks like injury or property damage. Professional liability is for businesses providing services, protecting against errors or negligence. Many businesses benefit from having both.

Can I bundle General Liability Insurance with other coverages?

Yes, many businesses opt for a Business Owner’s Policy (BOP) which bundles General Liability with Property Insurance, offering broader protection at a cost-saving.

How much does Business Liability Insurance cost?

Business liability insurance costs depend on your business type, size, location, and the extent of coverage needed. Generally, small businesses might pay anywhere from a few hundred to a few thousand dollars annually.

Still have questions? Speak to a Univista Insurance expert now.

Let us simplify the complexities and tailor solutions perfectly suited for you.

Subscribe to our newsletter

Our latest news and special offers just for you.

By subscribing you agree to receive information from Univista Insurance in your email.