Customized coverage for your small business
You work hard to succeed
As a small business owner, the last thing you want is for something to happen that could set you back financially. Allstate® understands that your business is unique, and we have protection solutions that address the risks specific to your business and deliver greater peace of mind.
Protect the vehicle that keeps you in business
Commercial auto protection provides coverages designed to help you get back on the road to success. In addition to coverages for the industries listed below, Allstate’s commercial auto insurance helps protect vehicles used by:
- Artisan / specialty contractors
- Carpenters
- Plumbers
- Electricians
- Landscapers
- Realtors
- Doctors and Dentists
- Lawyers
- Florists
File a business insurance claim
Your small business is your livelihood, which is why we strive to get your claim processed as quickly as possible.
What risks does a business insurance policy cover?
Business insurance typically helps cover a variety of risks to the premises and property your business owns. Some commonly covered risks include:
- Theft
- Lightning
- Fire and smoke
- Car crash into your business
- Windstorm or hail
- Sprinkler Leakage
- Vandalism
- Falling objects
- Explosion
Types of business insurance
As a business owner, you understand that not all businesses are the same. Take a look at some of the business insurance coverages Allstate can provide and see which ones are right for you.
- Business Owners Policy (BOP)
This policy combines multiple coverages, such as property coverage (for building and/or contents) and liability coverage, into one convenient package. - Property Coverage
This policy protects the property your business owns. - Liability Coverage
If a customer is injured at your business, this policy helps cover any legal expenses, as well as any other liability claims. - Business Interruption Coverage
This policy helps cover lost income and extra expenses resulting from a covered claim. - Equipment Breakdown Coverage
If your business experiences a power surge or other covered risk, this policy helps pay to repair any damaged equipment. - Provides financial protection to both you and your employees by providing benefits to workers who sustain work-related injuries or illnesses.
- Employment practices liability:
Reduces legal costs if your business is sued by an employee or contractor for things like discrimination, retaliation or wrongful termination. - Professional liability:
If accused of errors & omissions (E&O), negligence or faulty advice, this policy helps cover legal expenses and settlements for certain types of lawsuits and claims. - Data compromise coverage:
If your business suffers a data breach, this helps pay for certain costs, including creating informational materials and providing credit monitoring services for affected people. It may also be used to help pay for related legal fees.
How much does business insurance cost?
There are several factors that determine the cost of business insurance, including the type of industry you work in and the specific job you do. Take General Liability coverage: professionals who interact with the public, such as retailers, tend to pay more for this policy than those who work on their own, because there’s a higher level of risk involved with customer-facing industries.
In general, the cost of your business insurance depends on the specific type of policy you need. Additionally, it’s also subject to state availability, and qualifications may vary by state.
How much coverage do I need for my business?
There are a few things to consider when deciding on the right business insurance you need. Mainly, the type of business you own and the services you provide, as well as the state your business operates in. As a rule of thumb, general liability insurance is a basic policy to have as a business owner, because it helps cover bodily injury, property damage and various legal and medical expenses. If your business uses company vehicles, then commercial auto coverage is a good idea, since a personal auto insurance policy typically doesn’t extend to your business’s vehicles.
Do I need business insurance?
The simple answer is yes, even if you’re a sole proprietor. Your industry and the work you do determine the type of business insurance you need. General Liability coverage is recommended for all businesses, while businesses with valuable property or company vehicles may need commercial property insurance and commercial auto coverage, respectively.
Related Products
Life insurance is a way you can protect your family and loved ones, even after you pass away. Rather than leaving your family with existing debt, funeral expenses and other everyday costs, they’ll receive a tax-free death benefit or payout. This can provide financial security and stability. With a life insurance policy, you’re prepared for the worst but can plan for the best.
Commercial General Liability Insurance
Commercial General Liability insurance policy protects businesses against liability claims for bodily injury and property damage arising from business operations, products, or premises. It typically covers legal costs and settlements or judgments resulting from lawsuits filed against the business by third parties.
Life insurance refers to the legally binding contract between a policyholder and an insurance company that provides financial protection to his/her family. The insurer promises to offer the insurance benefit in exchange for regular premiums paid by the life insured. The ‘financial protection’ under life insurance is provided in the form of life cover, also known as sum assured. It is a pre-agreed amount that is payable in case of an untoward incident with the life insured.
Home insurance is a type of insurance that protects your home, its furnishings, and valuable items from a wide range of man-made or natural disasters. Typically, it includes coverage for damages to the home’s exterior and interior, as well as for injuries that occur on the insured property. Providing protection for your home, belongings, and potential liabilities, home insurance ensures both peace of mind and financial security.
Cargo insurance, also known as motor truck cargo insurance and freight insurance, provides coverage for potential damage to the property of others while in transit or during loading or unloading. This coverage provides protection for accidents like collision, load strikes, fires and more.
Term Life Insurance: What It Is, Different Types, Pros and Cons
Business insurance, also known as commercial insurance, helps protect business owners from unexpected losses. We offer different types of insurance for businesses, including coverage for property damage, legal liability and employee-related risks. No matter what industry you are in, your company faces risks every day.
As per the Motor Vehicles Act, 1988 it is mandatory for every owner of a vehicle plying on public roads, to take an insurance policy, to cover the amount, which the owner becomes legally liable to pay as damages to third parties as a result of accidental death, bodily injury or damage to property. A Certificate of Insurance must be carried in the vehicle as a proof of such insurance.