Get businessowners insurance
Building a small business with a solid business plan and the right protection can help pave the way for success.
What is businessowners insurance?
This policy type can help protect a diverse group of small businesses, ranging from fitness studios and art galleries to photographers, dance schools, and locksmiths, and many others.
What does businessowners insurance cover?
While small business represents a varied and distinct collection of professions and organizations, businessowners insurance offers an equally broad range of coverage to help meet those unique business needs.
Property
Helps protect business’ buildings and other structures, personal property, and equipment from covered accidental direct physical loss
Liability
Provides financial protection against costly claims and lawsuits covered under the policy
Accounts receivable
Covers loss of monies due that are uncollectible because of damage to accounts receivable records
Loss of income
Helps with protection if operations are suspended due to a covered loss
Money & securities
Covers loss of business money and securities caused by theft, disappearance or destruction from:
- The business location
- A bank or savings institution
- While being conveyed by a messenger or armored auto
- Within a messenger's residence
Equipment breakdown
Offers coverage for damage to covered property caused by:
- Mechanical equipment breakdown
- Artificially generated current damage
- Steam boiler explosion
- Loss to steam/hot water boiler
Computer property
Helps protect computer equipment used in the business operation
Seasonal increase
Provides increased business property coverage limits during peak seasons
Signs
May cover accidental direct physical loss to signs attached to buildings (indoor or outdoor) and outdoor signage not attached to buildings
Coverage in action
If someone gets injured, falls ill or dies because of something related to your business, general liability coverage may help protect you and your business.
How to protect your small business
You also may consider adding these coverages to complement your policy:
Data compromise and identity restoration
Coverages work together to help get the business back on track after a data breach occurs or if you become a victim of identity theft
Backup of sewer and drain
Covers the accidental physical loss of business personal property at a business location caused by the backing up of sewers and drains inside building
Employee dishonesty
Covers loss of business personal property and money and securities caused by an employee’s dishonest act
Utility interruption – loss of income
Covers loss of income caused by the suspension or failure of communications, water, natural gas, or electrical service to the business premises
Frequently asked questions about businessowners insurance
Businessowners insurance provides a range of coverages – property, liability, financial protection and more – to help meet the needs of a variety of professions and organizations that comprise small businesses.
To help put your new business on track for a successful start, begin by creating a strong policy comprised of a wide array of coverages. Choose from among traditional ones such as property and liability, then supplement with more profession-specific coverages, including ones for seasonal increase, spoilage or utility disruptions.
Yes, there is coverage (with some limitations) to help protect your business property used offsite.
Yes, it’s advisable to have insurance for your home-based small business. Work with your State Farm® agent to tailor a policy to provide the coverages you’re likely to need.
By purchasing a workers’ compensation policy (some states require it) you can help protect your employees if they’re injured while working.
Get a local agent who gets you
There’s a State Farm agent nearby ready to offer personalized service to fit your specific needs.
Simple Insights®
Looking for ways to help keep your small business running smoothly? You’ve come to the right place. Articles from Simple Insights draw on over 100 years of State Farm knowledge.
Prices are based on rating plans that may vary by state. Coverage options are selected by the customer, and availability and eligibility may vary.
This is only a general description of coverages of the available types of business insurance and is not a statement of contract. Details of coverage, limits, or services may not be available for all business and vary in some states. All coverages are subject to the terms, provisions, exclusions, and conditions in the policy itself and in any endorsements. Contact a State Farm agent for more information and a customized quote.
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