Small Business Insurance

Small Business Insurance
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What Is Small Business Insurance?

Whether you’re in the retail, construction or financial services industry, most small business owners need small business insurance. Having it can help protect the livelihood you’ve worked so hard to build. The right small business coverage can help cover expensive damage and lawsuits from:
  • Accidents
  • Natural disasters
  • Professional errors
  • Workers’ comp claims

Types of Small Business Insurance

Small business insurance helps protect your company’s personal property and income. It also helps safeguard you against liability claims.
General liability insurance helps protect businesses from claims that it caused bodily injuries or property damage to someone else’s belongings. It can also help protect your business from claims of personal injury, like libel or slander.
Business property insurance, also known as commercial property insurance, helps protect your owned or rented physical building and the tools and equipment used to operate your company.
Business income insurance, also known as business interruption coverage, helps replace your lost income if you can’t operate because of covered property damage. This includes damage from a fire, wind or theft.

Growing Your Small Business Coverage

Over time, you may need more coverage to protect your small business. We’re here to help and can get you small business insurance quotes based on the risks you face. Here are some of the different types of coverage we offer:
Workers’ compensation insurance gives your employees benefits if they get a work-related injury or illness. Also known as workers’ comp insurance, it can help pay for an injured worker’s medical expenses, medical treatments and lost wages. Most states require employers to carry workers’ comp.
Commercial auto insurance helps keep you and your employees safe on the road while driving a company-owned vehicle for business.
Data breach insurance, which some insurers call cyber liability insurance, helps pay for you to respond to a breach if personally identifiable information gets lost or stolen.


Costs of Small Business Insurance

The cost of insurance for small businesses varies. That’s because every small business is different and faces unique risks. How much does small business insurance cost? That depends on what you need. However, You can use the table below to see the average cost business owners paid for coverage with The Hartford:1
Coverage Average Annual Premium Average Monthly Premium
Business Owner’s Policy (BOP) $3,135 $261.25
General Liability Insurance (GLI) $1,057 $88.08
Workers’ Compensation Insurance $840 $70

More Information About Small Business Insurance

Why Do I Need Small Business Insurance?

Most states require some form of insurance for small business owners. No matter how careful you are, accidents can happen. When they do, having the right types of coverage can make all the difference. Learn more about insurance needed for small business.

What Does Small Business Insurance Cover?

There’s not a one-size-fits-all small business insurance policy that covers every claim. The best small business liability insurance policy for one company may not be good for your company. Many small business owners start with a BOP because it contains liability and property coverage. A BOP can help protect your business from:
  • Claims that it caused bodily injury or property damage to someone else’s belongings
  • Damage to the owned or rented building and equipment used to operate
  • Losing income if you can’t operate because of covered property damage

Can The Hartford Help Me Get Small Business Insurance In My State?

We proudly partner with thousands of small business owners throughout the country. If you’re looking for more information about how to get small business insurance where you live, check out our state business insurance page.

Do I Need Small Business Insurance for my LLC?

Registering your business as a limited liability company (LLC) doesn’t protect your business from risks. We created our LLC insurance specifically for small business owners. It can help keep you covered from devastating financial losses.

What Insurance Do You Need When Starting a Small Business?

Three essential types of business insurance you may need when starting a small business are:
  • General liability insurance
  • Business property insurance
  • Business income insurance
Our BOP bundles these three types of business insurance together to make it easier for you to protect your company.

Why Small Businesses Can Trust The Hartford

Not all insurance companies offer the same level of service. With us, you’ll find that we’re more than just an ordinary insurance company – we’re a partner. We’re dedicated to small business owners and have been protecting customers for more than 200 years. We can help you find the right type of business insurance for your company.
Our representatives consistently earn some of the industry’s highest ratings and reviews for customer claims. We’ve also been recognized as a World’s Most Ethical Company® 13 times by Ethisphere.**
To find out how we can help protect your business, get a small business quote today.
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Workers' Compensation Insurance


Commercial Auto Insurance


Commercial Property Insurance


General Liability Insurance

1 Premium amounts presented are based on monthly premium paid by The Hartford’s Small Business customers between 1/1/21 and 12/31/21 for 12-month policies. Premium is derived from a number of factors specific to your business and may vary.

*** Based on a 2021 study by Keynova (formerly Dynatrace).
Additional disclosures below.

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Not sure if your small business is fully covered? Learn more about the policies you should be regularly reviewing.
Last Updated: August 5, 2022
The Hartford shall not be liable for any damages in connection with the use of any information provided on this page. Please consult with your insurance agent/broker or insurance company to determine specific coverage needs as this information is intended to be educational in nature.
The information contained on this page should not be construed as specific legal, HR, financial, or insurance advice and is not a guarantee of coverage. In the event of a loss or claim, coverage determinations will be subject to the policy language, and any potential claim payment will be determined following a claim investigation.
Certain coverages vary by state and may not be available to all businesses. All Hartford coverages and services described on this page may be offered by one or more of the property and casualty insurance company subsidiaries of The Hartford Financial Services Group, Inc. listed in the Legal Notice.
The Hartford Financial Services Group, Inc., (NYSE: HIG) operates through its subsidiaries under the brand name, The Hartford, and is headquartered in Hartford, CT. For additional details, please read The Hartford’s Legal Notice.
* Customer reviews are collected and tabulated by The Hartford and not representative of all customers.