Small Business Insurance Mississippi

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Small businesses account for almost all companies in Mississippi and employ nearly half of the state’s workers.1

Whether they’re retail stores or professional services firms, all these companies need the protection of business insurance. It can provide a financial safety net after unexpected events, such as:

  • Someone says you caused an injury or property damage
  • You’re accused of professional negligence
  • An employee is hurt in the workplace
  • Your business property is damaged
  • Auto accidents happen 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 Mississippi. Or get a free instant quote to see customized coverage options for your business.

Small business insurance in Mississippi

Mississippi business insurance typically comes in customized packages with several different types of coverage, which insurance companies call policies. Each type of coverage can provide assistance when different kinds of accidents happen.

For example, general liability insurance can help protect against financial losses if you’re accused of causing physical injury to a non-employee or damaging their property. Whereas, if one of your employees gets hurt on the job, you would need Mississippi workers’ compensation coverage.

Other types of business insurance coverage purchased in the state of Mississippi include professional liability coverage, commercial auto insurance and business property insurance.

Whether you’ll want some or all of these types of coverage will depend on your business operations. Every small business is unique and has different business insurance needs. For example, a Hattiesburg construction company probably requires more policies than a Meridian accountant.

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More about types of Mississippi business insurance

Most small businesses in Mississippi need multiple types of coverage to meet their insurance requirements. Below you’ll learn how different kinds of policies can provide protection to keep you safe.
General Liability
General Liability insurance

Mississippi general liability coverage, also called business liability or commercial general liability insurance, is an essential form of small business insurance in Mississippi. It can help pay for medical costs, damages and lawsuit expenses if a non-employee claims that your business caused an injury or property damage.

For instance, a customer at a small cafe in Jackson accuses a barista of spilling a scalding cup of coffee on their arm and seeks medi

Workers Compensation
Workers’ Compensation insurance

State law requires most businesses with five or more employees to carry Mississippi workers’ compensation insurance. This type of coverage is designed to help pay expenses, including medical costs and lost wages, after employees are hurt or become sick on the job.

For instance, an employee at a Tupelo HVAC firm hurts their back while lifting heavy equipment and requires a trip to the emergency room. Workers’ comp insurance could help pay for the worker’s medical expenses and cover a portion of lost wages if the employee is unable to return to work immediately.

Even if your company employs fewer than five people, it’s a good idea to have workers’ comp insurance. That’s because it can help you avoid significant out-of-pocket expenses after a workplace injury and provide protection against lawsuits.

Commercial Auto
Commercial Auto insurance

Mississippi businesses that own vehicles or drive for business reasons need commercial auto insurance. That’s because personal auto coverage won’t pay for accidents that happen while behind the wheel on business.

For instance, a self-employed plumber in Biloxi has a wreck en route to a job, damaging his work van and two other cars. Commercial auto insurance could help pay to repair the vehicle damages and cover medical bills if anyone suffers bodily injury.

Hired and non-owned auto coverage is an optional add-on to commercial auto policies. If you ask employees to drive their own vehicles or rent cars for business, you’ll want to make sure this type of coverage is included in your insurance needs.

Commercial Property
Commercial Property insurance

Mississippi commercial property insurance can help pay for damaged or destroyed business property after a covered event, such as water, fire or wind damage.

For instance, a sprinkler malfunction at a Tupelo auto repair shop damages the office, ruining a computer, printer and the plasterwork. Commercial property coverage could help pay to clean up the mess, repair the physical damage and replace the damaged business equipment.

It’s important to read your policy documents carefully to make sure there aren’t exclusions. Many insurers don’t cover flooding or hurricane damage.

Errors & Omissions
Professional Liability insurance

Claims of professional negligence can hurt both a small business’s finances and its reputation. If a client says that you delivered substandard work, failed to complete a job or missed a deadline, you could be sued.

Professional liability coverage, also known as E&O or errors and omissions insurance, can help cover costs associated with these types of claims, including court and legal fees and any damages for which you’re found responsible.

For instance, a client accuses a Gulfport accountant of making a critical error that led to a hefty fine. E&O coverage could help the accountant reimburse the client for the fine, as well as assist with legal costs if the client files a lawsuit

How much does business insurance in Mississippi cost?

How much does business insurance in Mississippi cost?

The cost of business insurance can vary significantly based on your business operations. Keep in mind that the following factors will influence the cost of your Mississippi business insurance.

Your industry

Businesses that regularly encounter risks will spend more for coverage than those with fewer risks. For example, general contractors will likely pay more than lawyers, who have a lesser chance of injury or property damage.

The policies and coverage you select

As you add different types of coverage to your insurance package, the price of your premium will increase. You will also pay more if you choose higher coverage levels (which provide more protection) for your policies.

Your employee count

Most states determine workers’ compensation insurance costs based on the amount of workers on your payroll. That makes providing up-to-date employee numbers important when you get a 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 Mississippi:

How NEXT can help you with business insurance in Mississippi

How NEXT can help you with business insurance in Mississippi

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 Mississippi 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.