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Business Operations Resource Center

Small Business Insurance Guide

Insurance transfers certain risks, but policies differ in coverage, limits, exclusions, deductibles and obligations. Start with the business risks, not a product name.

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01

Map business risks

Review people, property, vehicles, contracts, professional work, cyber exposure, interruptions and industry requirements.

  • List worst credible losses
  • Review customer contracts
  • Include home based operations
02

Compare complete policies

Evaluate covered events, exclusions, limits, deductibles, endorsements, claims handling and insurer strength.

  • Get explanations in writing
  • Compare equivalent coverage
  • Disclose operations accurately
03

Review after changes

Revisit coverage when revenue, staff, locations, equipment, services, contracts or data practices change.

  • Keep an asset record
  • Report changes promptly
  • Maintain a claims plan

Frequently Asked Questions

Questions About Small Business Insurance Guide

Which insurance does every business need?

Requirements and risks vary by location, industry, staffing and contracts. A qualified professional should review the actual business.

Does general liability cover every loss?

No. Policies have defined coverage and exclusions, and other types of protection may be required.

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