Here’s a guide to some of the most common types of small business insurance and the businesses that can best benefit from each.

1. A Brief Guide:
Business Insurance
Here’s a guide to some of the most common types of small business
insurance and the businesses that can best benefit from each.

2. A Brief Guide: Business Insurance
Table of Contents
.01 – Why Invest in Small Business Insurance
.02 – Liability Insurance
.03 – General/Public Liability Insurance
.04 – Product Liability Insurance
.05 – Errors and Omissions Insurance
.06 – Commercial Vehicle Insurance
.07 – Special Events Insurance
.08 – Buying Business Insurance

3. Page .01 A Brief Guide: Business Insurance
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Why Invest in Business Insurance?
Small business owners have a lot
to manage, including insurance. Not
having the right insurance places your
business at risk. Every business needs
some type of insurance to have their
bases covered in protecting their assets.
What This Guide Covers:
some of the most common types of small
business insurance and the businesses
that can best benefit from each, including:
• Liability Insurance
• Errors and Omissions Insurance
• Commercial Vehicle Insurance

4. Liability Insurance
Page .02 A Brief Guide: Business Insurance
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5. Page .03 A Brief Guide: Business Insurance
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General/Public Liability Insurance
Public Liability Insurance Will
pay out in the event that a person and/or
their property is damaged and it is
deemed to be at the fault of your
business. General liability tends to provide
more coverage than public liability.
Who Needs It?
Those with the greatest risk exposure are
occupiers of premises where third
parties frequent at leisure including
shopping centers and retail stores, pubs,
clubs, theaters, sporting venues, markets,
hotels and resorts. Most business should
have a general liability policy.

6. Product liability insurance protects against financial
loss as a result of a defect product that causes injury
or bodily harm.
Who Needs It? Companies that manufacture,
wholesale, distribute, and retail a product may be
liable for its safety and need to consider investing in a
policy of this type.
Page .04 A Brief Guide: Business Insurance
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Product Liability Insurance

7. 40% of small businesses
have no insurance
because they are cash
constrained.
- Insurance Information Institute
Page .05 A Brief Guide: Business Insurance
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Professional Liability Insurance
This type of insurance is sometimes called
professional liability insurance.
E&O Policies
Errors and Omissions (E&O) policies offer insurance
coverage for lawsuits arising from rendering
negligent professional services, failing to perform
professional duties, errors or malpractice.
Who Needs It?
Lawyers, accountants, architects and IT companies
or any company/individual providing a service to a
client for a fee, such as an SEO agency.
Errors and Omissions Insurance

8. Commercial Vehicle Insurance Covers:
Commercial vehicle insurance covers your
business in the event of an accident when you
are driving for business reasons and can protect
business owners when an employee is involved in
an auto accident while on the clock.
Who Needs It?
Businesses that employs drivers for delivery or
transportation purposes―such as a shuttle
service or food delivery business―will likely be
required by the state to carry a certain amount of
this type of insurance. If your business has
vehicles used for company purposes, you need
commercial auto insurance.
When evaluating commercial
auto insurance providers, take
a look at: price, policy
offerings, billing and payment,
and claims processing
procedures.
Page .06 A Brief Guide: Business Insurance
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Commercial Vehicle Insurance

9. Page .07 A Brief Guide: Business Insurance
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Special Events Insurance
Event Insurance Can Prevent:
Event insurance can prevent your
business from losing money in non-
refundable deposits if you have to cancel
or postpone your event – and protect
you from expensive liability lawsuits if an
accident should happen at your event or
business function.
Who Needs It:
If your business is hosting a dinner, off-
site meeting, corporate party, fundraising
event or a non-profit function, special
events insurance can be an added
security measure to protect your
business.

10. Buying insurance for your business isn’t
something you should take lightly. It’s a big
investment that requires plenty of research as well
as price and quote comparison. Before you sign on
a dotted line, be sure to:
» Assess Your Risks
» Compare Quotes
» Review and Re-Evaluate
Assess Your Risks.
Talk to an insurance specialist to see where your
business may be exposed to risk and what policies
are the best fit.
Compare Quotes.
Shop around to see where you can find the best
coverage at the best rate. Be sure to watch out for
low-ball bids as coverage could be sub-par.
Review and Re-Evaluate
Shop around to see where you can find the best
coverage at the best rate. Be sure to watch out for
low-ball bids as coverage could be sub-par.
Visit Business.com for more information about
business insurance.
Simply put, our mission is to help people grow their businesses.
This is why over 20 million buyers from small-to-medium
enterprises turn to Business.com every year to discover,
compare, and purchase the products and services they need to
run and grow their businesses.
It's also why over 10,000 advertisers use Business.com to reach
these valuable buyers, generating well over $1 billion in
incremental annual revenues.
Page .08 A Brief Guide: Business Insurance
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Buying Business Insurance