Small Business Insurance Wyoming

You can save with discounts of up to 25%*

Customized business insurance in Wyoming

The nearly 69,000 small companies based in Wyoming play a major role in the state’s economic health by employing nearly two-thirds of its workers.1

The right insurance package helps small businesses and self-employed individuals in Wyoming protect against unexpected events, which could include:

  • Claims of causing injury or property damage
  • Employee injuries that happen at work
  • Damages from accidents that occur in business-titled vehicles
  • Allegations of professional negligence that cause a client to lose money

NEXT Insurance helps more than 1,300 types of small businesses and self-employed workers quickly get the coverage they need online at the best price. We specialize in small business insurance, so we can easily help you find a custom insurance package that is right for you.

Continue reading to find out about the most important types of business insurance in Wyoming or start a free instant quote to review options for your business.

Business insurance coverage and requirements in Wyoming

Small business owners in Wyoming who are shopping for an insurance package will want to consider the following major types of coverage:

business insurance lp img1
General Liability insurance
General Liability Insurance

General liability coverage is one of the most common and important types of business insurance in Wyoming.

This form of protection helps pay for damages if someone at your company is accused of injuring another person or destroying property. It is also commonly required to rent commercial office space.

If a person or business sues your company, general liability insurance assists with lawsuit expenses, even if the claim is without merit. By carrying this coverage, a business receives help with lawyer fees, court costs and damages for which it is held responsible, up to the policy limits.

A business might need to file a general liability insurance claim if something like this happened:

A resident of a Cheyenne apartment complex is injured after falling down a dark stairwell and seeks medical care. The injured person blames the accident on the property management company for failing to provide proper lighting. The property management firm’s general liability coverage would help pay for the injured resident’s medical expenses, along with other costs if the individual filed a lawsuit.

Construction and cleaning business owners often add tools and equipment insurance to general liability coverage to help pay for items that are stolen, lost or damaged.

General Liability insurance
Workers’ Compensation insurance

Businesses that hire employees in Wyoming must carry workers’ compensation insurance to comply with state laws.2

If an employee gets hurt while performing job duties, workers’ comp insurance pays for the person’s medical bills. In Wyoming, workers’ compensation coverage also reimburses injured employees two-thirds of lost wages if they need more than eight days off to recover.3

For example, an employee of a Casper-based carpentry firm suffers a serious cut while at work. The employee needs stitches and a few weeks to recuperate from the injury before returning to the job. Workers’ comp insurance pays for the injured carpenter’s medical bills and helps repay a portion of lost wages.

Commercial auto insurance
Commercial Auto insurance

Wyoming law requires all drivers to carry auto insurance to help cover accident damages.

Since personal automobile coverage doesn’t usually pay for accident damages in company-owned vehicles, business insurance in Wyoming often includes commercial auto coverage. This type of insurance provides protection if someone at your company injures other people or causes property damage when driving for work.

Drivers in Wyoming must carry a minimum of $50,000 in auto insurance to help pay for injuries to others and $20,000 in property damages if there’s an accident.4 But businesses that own several vehicles that employees often drive should think about purchasing more than the minimum required coverage.

Commercial auto insurance could save a small business in Wyoming a significant amount of money if something like this happened:

A driver claims that employees of a Gillette-based debris removal firm damaged their vehicle after items fell from the back of a company truck on Interstate 90. Commercial auto insurance helps pay for damages to the other person’s vehicle, along with medical expenses if the accident resulted in injuries.

Companies might occasionally request that employees drive their personal vehicles to jobs or rent automobiles. Adding hired and non-owned auto coverage to a business insurance package in Wyoming helps pay for accident damages in these situations.

Errors & Omissions
Professional Liability insurance

No small business wants to be accused of professional negligence, but unexpected mistakes and accusations of oversights can happen.

Professional liability insurance, also known as errors and omissions (E&O) coverage, helps pay for claims of substandard work, incomplete jobs and missed deadlines that result in financial losses. If someone sues your company over these kinds of issues, professional liability insurance helps cover the same types of lawsuit expenses as general liability coverage.

For instance, a homebuyer claims that stone flooring installers used the wrong type of tiles at a new vacation property in Jackson. The business’s E&O insurance would help pay to remove the incorrect tiles, purchase new ones and provide labor expenses to fix the mistake.

business insurance in Wyoming

How much does business insurance in Wyoming cost?

Business insurance in Wyoming costs NEXT customers a median of $44 per month. The following factors play a role in determining how much your company might spend:

Your industry and related risks. Small businesses that regularly encounter risks such as injuring other people or damaging property should expect slightly higher insurance costs than companies with fewer chances of serious accidents.

Business insurance packages in Wyoming cost construction companies a median of about $49 per month. Fitness center operators in the state typically spend $17 each month for coverage.

The types of insurance you select and policy limits. If you choose the minimum amount of required coverage and the lowest policy limits, you’ll save a little money in the short term. But if your company ever needs to file a large claim, you could end up paying more out of pocket than you saved.

Your employee count. A small business with 20 employees will pay more for workers’ compensation coverage than a company with four people on staff. Be sure to provide your company’s current number of employees to receive the best possible insurance quote.

Start a quote with NEXT Insurance today to explore coverage options for your business in just a few minutes.

business insurance in Wyoming

How NEXT can help you with business insurance in Wyoming

We offer a quick and simple way for you to get business insurance quotes online, purchase coverage and share your certificate of insurance. The entire process typically takes just a few minutes.

Our team of licensed, U.S.-based advisors can help you if you have any questions.

More resources for Wyoming small businesses and self-employed workers

See what our customers have to say

I am so excited
I am totally excited about my new insurance for my small business. I am happy that the price was in a range that I can afford, the terms were easy to understand and it was so simple to purchase my first policy. I look forward to doing business with you in the future.
Curzella J.
Easiest insurance purchase – EVER!
I was looking around trying to compare insurance and I am so lucky I found NEXT. I was able to compare levels of coverage, and all the options, without pressure from a salesperson or time limits. I was able to check out prices and it was more coverage for less than the “traditional” company I looked at.
Michael W.
Happy small business owner!
I needed liability insurance for my new small business brick & mortar location. I got the run around from another company, but NEXT provided a competitive insurance quote in a timely manner. I now have the insurance that I need and it was stress-free!
Nicole E.
* 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.
What we cover
Chat with Us

Mon – Fri | 8 a.m. – 5 p.m. CT

© 2024 Next Insurance, Inc. 975 California Ave, Palo Alto, CA 94304, United States
Better Business Bureau
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.