Are you legally required to have some type of commercial insurance?

As the U.S. Small Business Administration put it:

“Your state government determines insurance requirements for businesses. Most states require businesses with employees to pay for workers’ compensation insurance, unemployment insurance, and state disability insurance. Your state may require insurance of specific business activities. For example, if you own a car or truck and use it for business purposes, you may be required to purchase commercial auto insurance. Finally, your financial lender or investors may require you to maintain life, business interruption, fire, flood or other types of insurance to protect their investments.”

So, a good insurance agent should tell you if you need small business insurance, along with required and suggested levels of coverage. So check out Selecting a General Liability Insurance Agent and talk to a few agents.

In lieu of that here’s a list of links to each state’s main business portal where you can find state laws and regulation compliance information: