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Own A Business? Here Are 7 Types Of Business Insurance You May Need

    Shelbi Wescott
  • 6 comments
  • Updated on:
Advertiser Disclosure: Our unbiased reviews and content are supported in part by affiliate partnerships, and we adhere to strict guidelines to preserve editorial integrity.
Shelbi Wescott

Shelbi Wescott

Managing Editor at Merchant Maverick
Managing Editor Shelbi Wescott has been researching and comparing small business payroll and accounting software since 2019. An accomplished author in both the science-fiction and mystery genres, she received an Honorable Mention for Best YA Mystery from the Library Journal for her novel After Life. Shelbi has a BA in English Literature and a Masters in Teaching from Lewis and Clark College.
Shelbi Wescott
View Shelbi Wescott's professional experience on LinkedIn.

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6 Comments

Responses are not provided or commissioned by the vendor or bank advertiser. Responses have not been reviewed, approved or otherwise endorsed by the vendor or bank advertiser. It is not the vendor or bank advertiser's responsibility to ensure all posts and/or questions are answered.

    Ridley Fitzgerald

    It’s good to know more about business insurance. I like how you said that the mandatory coverage you need differs based on the company’s size, type, and the state. If I ever open a business, I’ll have to do some research into that because I had no idea.

      This comment refers to an earlier version of this post and may be outdated.

      Sandra Patterson

      I found the concept of property insurance interesting, especially that property damage due to theft is under this category of business insurance. If I was a business owner I would be sure to want to have my business and property insured in this category. I also thought that your comment about business interruption and how that covers if the business cannot function for a time; I didn’t know that was something that could be insured!

        This comment refers to an earlier version of this post and may be outdated.

        Taylor Bishop

        I wanted to thank you for helping me learn more about different types of insurance a business can get. You mentioned a commercial auto plan can help keep an owner protected if there is a driving mishap. I wonder if this is still ideal for businesses that don’t transport any physical goods regularly.

          This comment refers to an earlier version of this post and may be outdated.

          Jessica Dinsmore

          Hi Taylor,

          If the business isn’t transporting goods or doing any sort of regular driving as part of the business, then no! Not needed at all. We do have a commercial auto blog post coming up in the near future, so keep checking back!

            This comment refers to an earlier version of this post and may be outdated.

            Caden Dahl

            If I had a business, I would for sure want to have some kind of insurance for it. That way, I would be covered in the event something in my store got broken or someone was hurt. You did list out quite a few options to pick from as I would probably go with all of them.

              This comment refers to an earlier version of this post and may be outdated.

              Daphne Gilpin

              Thanks for explaining that we might need renter’s insurance if we plan on leasing the location for our small business. My husband and I are thinking about renting a space for the small business that we currently run from home. I wasn’t sure what kind of insurance coverage we would need, so thanks for letting me know we’ll probably need to get renter’s insurance.

                This comment refers to an earlier version of this post and may be outdated.

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