AmTrust Business Insurance

Workers' compensation insurance covers medical bills and other expenses related to work-related injuries. It also helps pay for lost wages if you or an employee are unable to work during recovery.

Most states require small businesses to purchase workers' comp as soon as you hire your first employee.

A business owner's policy bundles general liability coverage and commercial property insurance into one policy. It is a cost effective choice, often cheaper than buying these insurance policies separately.

General liability insurance protects against the most common third-party lawsuits, such as bodily injuries, property damage, and advertising injuries (e.g., copyright infringement). It's often the first type of business insurance coverage that small businesses get.

Commercial auto insurance covers the cost of accidents that involve company-owned cars, including medical bills, property damage, and lawsuits from other drivers. Every state, except for New Hampshire and Virginia, requires that businesses with company vehicles have commercial auto insurance.

If you use a personal, rented, or leased vehicle to complete work errands, then you should get hired and non-owned auto insurance (HNOA). This policy will offer you the protection you'll need, as personal auto insurance will likely not cover you if you're involved in an accident.

Cyber insurance is strongly recommended for any business that interacts with sensitive customer information, like email addresses or credit card numbers. It covers the immediate costs of a data breach or cyberattack, such as:

• Ransoms for retrieving data
• Hiring an expert to investigate the breach and assist with regulatory compliance
• Notifying customers about the breach
• Crisis management and public relations

It also covers the legal costs of lawsuits related to a data breach or cyberattack, including legal defense if a client blames your business for failing to prevent the incident.

Employment practices liability insurance, or EPLI, protects your small business against allegations over violating employees' rights, including wrongful termination, discrimination, or breach of employment contract.