Small Business Insurance Louisiana

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Small businesses are an essential part of the Louisiana economy, employing more than half of the state’s workforce.1 All of these companies need business insurance to stay safe.

Having the right Louisiana business insurance coverage can help you avoid financial losses. It can help pay expenses resulting from unexpected events such as:

  • Personal injury claims
  • Property damage
  • Accusations of professional negligence
  • Employees hurt on the job
  • Accidents while driving for business

NEXT is 100% dedicated to small business and insures more than 1,300 types of small businesses and self-employed workers. We make it easy for you to get the right coverage at the right price and purchase your policy online in less than 10 minutes.*

Continue reading to learn about important types of business insurance in Louisiana. Or get a free instant quote to see customized coverage options for your business.

Small business insurance in Louisiana

Louisiana business insurance usually involves a package of different types of coverage, which insurance companies call policies or insurance products. You can combine them into a customized insurance package based on your business insurance needs.

Business insurance in Louisiana often consists of some combination of:

Commercial auto insurance, which can cover damages from accidents in business-owned vehicles.

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More about types of Louisiana business insurance

Small businesses in Louisiana frequently purchase multiple types of coverage. Below you can explore the different kinds of insurance available to meet your Louisiana business insurance requirements.
General Liability
General Liability insurance

Louisiana general liability coverage is designed to protect your business if you’re accused of causing an injury or destroying property. It can help you pay for medical care and to repair or replace damaged items, and can help cover legal defense costs if you’re sued.

Here’s an example of how general liability could help a small business in Louisiana:

A New Orleans homeowner claims that a plumbing company damaged a hardwood floor while repairing a sink. General liability insurance could help the plumbers pay to replace the client’s floor.

Cleaning and construction companies in Louisiana may want to include optional tools and equipment coverage with their policy. It can help repair or replace work gear that is lost, stolen or damaged outside of normal wear and tear.

Keep in mind that many commercial landlords and clients will require proof of business liability insurance before they’ll sign a contract with your business.

Workers Compensation
Workers’ Compensation insurance

Louisiana requires most businesses with employees to carry Louisiana workers’ compensation insurance.

If an employee gets hurt on the job, workers’ compensation insurance can help cover medical costs, physical therapy and a portion of lost wages while they recover.

For instance, a worker at a Lafayette construction company is hurt by a falling object at a job site, needs an ambulance and stays in the hospital overnight. Workers’ comp coverage could help pay for the employee’s medical expenses and help cover lost wages while they’re unable to work.

Commercial Auto
Commercial Auto insurance

If your business involves driving, you’ll want commercial auto insurance. This kind of coverage is important because personal auto insurance won’t cover work-related accidents.

If someone at your company has an accident in a company-owned vehicle, commercial auto insurance can help pay bodily injury and property damage costs.

For example, an employee of a Lake Charles specialty store has an accident while making a delivery in the company-owned truck and hurts another driver. Commercial auto insurance could help the retail business pay for the other driver’s medical bills and damages to the vehicles.

Small businesses that ask employees to drive their own vehicles or rent cars for business will want hired and non-owned auto coverage. This optional add-on is designed to pay for accident damages in vehicles that aren’t titled to your business.

Commercial Property
Commercial Property insurance

Louisiana commercial property insurance, sometimes called business property insurance, can help pay for business property that’s damaged or destroyed after a covered event, such as water, fire or wind incidents.

For example, a kitchen fire at a Shreveport family restaurant damages the grill. Commercial property coverage could help pay to repair the cooking station and replace cookware that was ruined.

It’s important to read your policy documents carefully to make sure there aren’t exclusions for your business. It’s common for insurance carriers not to cover flooding or hurricane damage.

Errors & Omissions
Professional Liability (E&O) insurance

Professional liability coverage, also known as E&O or errors and omissions insurance, can help your business if you’re accused of professional negligence. It can help pay legal defense fees or settlements after claims of work mistakes, missed deadlines or incomplete work.

For example, a client says that a self-employed IT consultant in Baton Rouge failed to properly configure a network, which caused a work delay and lost revenue. The client’s legal team threatens a lawsuit to recover financial damages.

E&O coverage could help the consultant pay to settle the claim out of court. It could also help cover attorney fees, court costs and any damages if the case ended up in front of a judge.

How much does business insurance in Louisiana cost?

How much does business insurance in Louisiana cost?

Coverage costs for your Louisiana-based company will depend on your business insurance needs and business operations. Every business has different coverage requirements, potential risks and unique circumstances that will affect the price you’ll pay.

Your business insurance cost will depend on factors including:

Your risk profile

If your business is routinely exposed to the risk of injury, property damage or other types of accidents, your insurance costs may be higher. For example, insurance for a construction worker will be priced differently than for professional services workers like accountants.

The policies you choose

Business insurance will cost more as you add policies to your insurance package. Most businesses need more than one kind of coverage to protect them in different situations.

How many workers you employ

The number of people you employ will also affect what you pay for your business insurance, especially if you’re purchasing a Louisiana workers’ compensation policy. Be prepared to share your payroll costs and exact number of full-time and part-time employees when you get your insurance quote.

The best way to explore coverage options and find out how much you’ll pay for a business insurance policy is to get a free instant quote from NEXT.

You can also use our insurance calculators for a general estimate of insurance costs in Louisiana:

How NEXT can help you with business insurance in Louisiana

How NEXT can help you with business insurance in Louisiana

We offer a fast and easy way for small business owners to get a business insurance quote online, purchase coverage and instantly share a certificate of insurance. The entire process usually takes less than 10 minutes.

You can also chat with our U.S.–based NEXT licensed insurance agents if you need help or have questions.

Resources for Louisiana small businesses and self-employed workers

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* To the extent permitted by law, applicants are individually underwritten, not all applicants may qualify. Individual rates and savings vary and are subject to change. Discounts and savings are available where state laws and regulations allow, and may vary by state. Certain discounts apply to specific coverages only.
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Issuance of coverage is subject to underwriting. Not available in all states. Please see the policy for full terms, conditions and exclusions. Coverage examples are for illustrative purposes only. Your policy documents govern, terms and exclusions apply. Coverage is dependent on actual facts and circumstances giving rise to a claim. Next Insurance, Inc. and/or its affiliates is an insurance agency licensed to sell certain insurance products and may receive compensation from insurance companies for such sales. Policy obligations are the sole responsibility of the issuing insurance company. Refer to Legal Notices section for additional information.

Any starting prices or premiums represented before an actual customer quote are not guaranteed and are representations of existing premiums of active policies as of December 6, 2023. To the extent permitted by law, applicants are individually underwritten, not all applicants may qualify. Individual rates and savings vary and are subject to change. Discounts and savings are available where state laws and regulations allow, and may vary by state. Certain discounts apply to specific coverages only.