Small Business Insurance Wisconsin

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The more than 460,000 small businesses headquartered in Wisconsin help drive the state’s economy by employing 1.3 million of its workers.1 They all need business insurance to stay safe.

If you’re a small business owner in the Badger State, you’ll also need insurance coverage to protect your company and employees. Having the right policies can keep your business running after work-related injuries, accidents and mistakes.

Business insurance in Wisconsin may include coverage for:

  • Claims of injury or property damage
  • Work errors, including missed deadlines and incomplete projects
  • On-the-job employee injuries
  • Damage to business property
  • Business-related auto accidents

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 Wisconsin. Or get a free instant quote to see customized coverage options for your business.

Wisconsin small business insurance

Because no two small businesses are the same, Wisconsin business insurance can be purchased in customized packages based on your coverage needs.

Insurance companies typically determine your coverage requirements based on factors including your:

  • Industry
  • Employee count
  • Value of business property
  • Other factors

Depending on your business operations, your business insurance package may include different types of coverage that apply in different situations. For example, your insurance carrier could recommend a combination of:

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More about types of Wisconsin business insurance

It’s common for small businesses in the state of Wisconsin to need multiple types of coverage. Below you can learn more about the different kinds of insurance available to meet your Wisconsin business insurance needs.
General Liability insurance
General Liability insurance in Wisconsin

If someone claims that your company caused an injury or damaged their property, you could be faced with unexpected expenses.

General liability insurance, also known as business liability insurance or commercial general liability, can protect you by helping to pay for medical bills and the cost of replacing or repairing damaged property. This coverage can also assist with lawsuit costs, including attorney and court fees, and any damages for which you’re found responsible.

For example, a prospective homebuyer slips on a floor at a Milwaukee open house, requires a trip to the emergency room and later later claims that the real estate agent’s negligence was to blame for the accident. General liability insurance could help the real estate agent cover the prospective homebuyer’s medical bills and pay for legal representation if a lawsuit was filed.

Owners of construction and cleaning companies might want to add an optional general liability upgrade called tools and equipment insurance. This kind of coverage is designed to protect business gear that is stolen, lost or damaged outside of wear and tear.

Workers' comp insurance
Wisconsin Workers’ Compensation insurance

Wisconsin requires most companies with employees to carry workers’ compensation insurance. This type of coverage can help pay for medical expenses and lost wages when employees are injured on the job.

Workers’ comp insurance would apply in a situation like this:

An employee of a Green Bay–based trucking firm seeks medical care after a concussion that happened on a job. Workers’ compensation coverage could help pay the employee’s medical expenses, including ambulance, hospital and doctor bills.

If the trucker’s injury causes missed time from work, workers’ compensation could also help pay for lost wages.

Commercial auto insurance
Commercial Auto insurance in Wisconsisn

Companies that own vehicles or drive for business need to have commercial auto coverage in their Wisconsin insurance packages. That’s because personal auto insurance won’t cover accident damages that happen while driving for business purposes.

Here’s how commercial auto insurance can help small businesses by assisting with towing, collision damage and medical costs:

An employee of a Racine-based plumbing company wrecks on Interstate 94 during a snowstorm and severely damages a van. Commercial auto insurance could help pay to repair or replace the vehicle and for medical attention if the plumber is hurt.

Hired and non-owned auto insurance is a type of coverage that helps pay for accident damages in vehicles that are not titled to your business. Companies that ask employees to drive their own cars for business or rent vehicles will want this optional add-on to commercial auto coverage.

Commercial Property
Wisconsin Commercial Property insurance

Wisconsin 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 Kenosha casual dining restaurant damages the cooking station. Commercial property coverage could help pay to repair the grill 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. Some locations prone to flooding or hurricane damage might have limited coverage.

Errors & Omissions
Professional Liability (E&O) insurance in WI

There’s insurance to protect you if someone claims that your professional negligence caused them financial losses. It’s called professional liability insurance and it’s a key part of business insurance packages in Wisconsin.

Also known as E&O or errors and omissions insurance, this type of coverage can help your company if someone says you performed subpar work, failed to meet deadlines or didn’t complete a job.

For instance, a commercial office building developer in Madison alleges that an architecture firm didn’t deliver a building plan on time, which caused several clients to pull out of the project. The developer sues the architect for damages.

Professional liability coverage could help the architect pay for legal costs and court fees and to help settle the case.

How much does business insurance cost in Wisconsin?

How much does business insurance cost in Wisconsin?

The price you’ll pay for Wisconsin business insurance will depend on your company’s needs. That’s because every business has different business insurance requirements, potential risks and unique circumstances.

The cost of your small business insurance package will depend on factors related to your business operations, including:

Regular job-related risks

Higher-risk businesses will pay more for coverage than those with fewer risks. For example, construction companies based in Wisconsin, which face the hazards of injury and property damage, typically have higher premiums than professional services workers based in an office.

Your company’s headcount

Businesses with higher employee numbers should budget more for workers’ comp insurance, as pricing is based on staffing. For the most accurate quote, be sure to provide your exact headcount.

The policies you choose

Business insurance will cost more as you add policies to your coverage package. Keep in mind that most businesses need more than one type of policy to protect them in different situations.

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 Wisconsin:

How NEXT can help you with business insurance in Wisconsin

How NEXT can help you with business insurance in Wisconsin

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 Wisconsin 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.