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Key takeaways: 

What is business insurance?   

Business insurance can help you manage your company's risks and exposures. It gives you financial protection from losses that can occur during normal business operations. When you purchase insurance for your business, you are protecting your business's financial assets, intellectual and physical property from lawsuits, property damage, theft, vandalism, loss of income, and employee injuries and illnesses.  

You can purchase different types of business insurance policies to help protect your business. These policy options include commercial liability, commercial property, commercial auto, worker’s compensation as well as data breach and cyber protection. Many businesses benefit from having multiple policy types to address the various risks they face.  

We can help you prepare for the unexpected — damaged property, theft, liability exposure — with a variety of insurance policies that help cover your costs in the event of a loss. An Indiana Farm Bureau Insurance agent can work with you to determine which policies best meet your company’s needs. We want to help you protect the business you have built.  

What are the different types of business insurance policies?  

The type of business you own, and your unique exposures will determine what type of business insurance you need. We have multiple policy types that can be tailored to your unique business needs. These policies can accommodate many types of businesses, including manufacturers, restaurants, churches, retailers, contractors, habitational occupancies and more.  

Whether you own a small retail business, a business that requires clients to come to your physical location for services (e.g. lawyer, barber, doctor, accountant, printer), an e-commerce business operating online, or a trade contractor performing services on customer premises (e.g. electrician, mason, carpenter, carpet cleaner, painter), we offer policies that can be tailored to your unique exposures.  

If your business relies on vehicles–whether for deliveries, client visits or transportation–we also have commercial insurance that focuses on commercial auto exposure. Learn more on our Business Owners Insurance page.  

How to get business insurance for my business?   

A great way to purchase business insurance with Indiana Farm Bureau Insurance is by contacting one of our professional agents. They can conduct a review of your current insurance program (if applicable) and then make recommendations tailored to your individual needs and exposures. Business insurance has changed over the years to address exposures, especially data breach and cyber exposures. We want to make sure that you have the proper amount of coverage should an unexpected loss occur.  

Why is business insurance important?    

What if a fire breaks out at your business and you lose your building and/or inventory? Maybe a severe storm sends a tree smashing down onto your office or your business experiences equipment theft. What if someone hacks into your computer files resulting in a cyber loss? These are some of the most common losses experienced by business owners today. Your business insurance coverage is one of the factors that determines how well your business might recover after experiencing a loss. 

Business insurance helps cover the costs of your loss whether it’s to repair damaged property or replace what you’ve lost. Business insurance can be the difference in whether or not your business survives after a significant loss.  Businesses that have appropriate commercial insurance can often recover with minimal interruption or financial burden to their business.  

How much does business insurance cost?   

Indiana Farm Bureau Insurance determines annual premiums for business policies by evaluating businesses on an individual basis. That way, your company pays for the appropriate amount of coverage based on the size and nature of your business.  

Business policies have tailored premiums based on the anticipated exposures and size of your business. Premiums for some commercial policies are determined by payroll or sales volume. At the beginning of the policy period, you and your Indiana Farm Bureau Insurance agent estimate the total payroll or sales volume. As your business grows, you can work with your agent to adjust these figures to ensure that you are properly protected.  

Want more information about business insurance? Find an agent today and learn more!