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

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Shelbi Wescott

Shelbi Wescott

Writer - Business Insurance at Merchant Maverick
Shelbi Wescott is a writer and educator from Portland, Oregon. When she isn't writing about business insurance, she is a published author churning out pages for her science-fiction and mystery books. In 2015, her book After Life won an Honorable Mention for Best YA Mystery from the Library Journal. (It has ghosts. And mystery.) Shelbi has both a BA in English Literature and a Masters in Teaching from Lewis and Clark College.
Shelbi Wescott
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    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.

      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!

        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.

          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!

            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.

              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.

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