Small business insurance, 
fast and affordable

You could be sued for just about anything, even if you haven’t made a mistake. If someone slips and falls in your shop, or if a client thinks you didn’t do the job the way you said you would, you could find yourself facing a claim or lawsuit. Small business insurance can cover the cost, including the cost to defend yourself.

Some professions require that you have business insurance. Many healthcare-related professions require professional liability insurance, which is sometimes referred to as malpractice insurance. Sometimes, a contract will require that your business be insured. Hiscox provides a Certificate of Insurance (COI) once you purchase a small business insurance policy so you can show that you’re insured.

Small business insurance can pay the costs incurred if a claim or lawsuit is brought against you for things like property damage, bodily injury or negligence. It can also pay the cost of things like damage to your own business property, or a cyber incident. In exchange for a small fixed cost (the premium) you are protected from covered costs that are unexpected and may be potentially much larger.

Small business insurance is required in some industries, and some clients may require it before they award a contract. In many cases, small business insurance is not required, but it is a good idea because it protects you from risks that you can’t see coming.

Bundle And Save

We offer customers up to a 5% discount if you buy two or more Hiscox products. Also, by choosing a higher deductible (the initial amount you pay for each claim), you can lower your premium. It’s only fair, as you’re taking on more of the risk.

This depends on the type of business you have. Most businesses will need general liability insurance, especially if you meet with clients face to face. If you offer professional advice, you should also have professional liability insurance. If you use computers, have a website, or accept electronic payments you should have cyber security insurance. If you have business equipment, like computers or tools, you may consider a business owners’ policy (BOP) which combines general liability with coverage for your business property.

General liability insurance covers someone else’s claim of bodily injury, property damage or personal injury. This means if someone gets hurt at your place of business, or their property is damaged, you’re covered. You’re also covered for claims that you damaged someone’s reputation by slander or libel.

Professional liability insurance covers your professional services or advice. This is sometimes called errors and omissions insurance because it covers something you did that you shouldn’t have (an error) and something you should have done that you didn’t (an omission). Professional liability insurance covers defense costs even if the claim against you is found to be without merit.

Yes. An LLC protects your personal assets in the event of a suit or claim, but the assets of the business are still at risk. Business liability insurance will protect your business’s assets.

Other business types that need small business insurance:

• Sole proprietors
• Entrepreneurs
• Side Hustles
• Contractors
• Home based businesses

If you do not have proper protection, you may have to pay out of pocket for claims and legal costs. Small business insurance is important to keep your business afloat and give you peace of mind for the unexpected. Hiscox protects you by covering the costs to defend your business against covered claims, as well as paying a covered settlement or judgement.

Hiscox customizes each policy based on the risks faced by that particular industry. Whether you are a consultant, contractor, personal trainer, financial advisor, counselor, or have one of hundreds of other types of businesses, you need insurance to protect against the cost of unforeseen accidents, mistakes, and even cyber attacks.

Business insurance can protect you if you own an LLC, have a partnership, are a sole proprietor, or are a digital nomad.

You’ll benefit from protecting your business with one or more of these policies:

If you’re not sure what you need, find out in 20 seconds.

Most small businesses will need general liability and professional liability policies. If you have employees, workers compensation insurance is required by most states. In addition, if you do work via computer, you should consider a cyber security policy. View our guide to learn more about what kind of business insurance may be available.

In general, small business insurance can cover various risks including property damage, liability for accidents or injuries, and legal claims that may arise against your business. In addition, it can also include coverage for employee injuries or professional negligence. When viewing insurance products, be sure to view coverage details provided.

Small business insurance typically will not cover intentional acts of wrongdoing, employee dishonesty, and certain natural disasters. In addition, damage from wear and tear, and claims arising from illegal activities are typically excluded from a policy. Always be sure to view policy coverage and become familiar with its terms for specific terms and exclusions.

Small business insurance is not always required by law, however, certain coverage like workers compensation insurance may be mandated depending on your state and business activities. Even if not legally required, having business insurance is key in protecting your business from potential risks and liabilities. Get more information.