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Small Business Insurance in Colorado

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Recommended insurance policies for small businesses in Colorado

These insurance policies defend Colorado small business owners against common lawsuits and other top risks.

General liability insurance

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A general liability policy covers common third-party risks for small businesses in Colorado, including customer property damage and injuries. Commercial leases often require this coverage.

  • Lawsuits from customer accidents
  • Accidental copyright infringement
  • Other advertising injuries, such as slander

Errors and omissions insurance

Errors and omissions insurance icon

This type of insurance covers lawsuits related to the quality of your professional services or advice. It’s also referred to as E&O insurance or a professional liability insurance policy.

  • Work errors and oversights
  • Professional negligence lawsuits
  • Late or incomplete work

Professional liability insurance

Professional liability insurance icon

Professional liability coverage protects Colorado businesses against legal fees related to unsatisfactory professional services or advice. It's sometimes referred to as E&O insurance.

  • Mistakes and oversights
  • Breach of contract
  • Missed deadlines

Business owner’s policy

Business owner’s policy icon

A business owner's policy, or BOP, bundles commercial property insurance and general liability coverage. It's often the most cost-effective type of business insurance.

  • Slip-and-fall accidents
  • Stolen or damaged business property
  • Business interruption insurance

Workers’ comp insurance

Workers’ compensation insurance icon

Workers’ comp is required for Colorado businesses that have employees. Sole proprietors and independent contractors also buy this coverage, as personal health insurance won’t cover work injuries.

  • Employee medical expenses
  • Disability benefits
  • Lawsuits from employee injuries

Cyber insurance

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This policy protects Colorado small businesses against financial losses from data breaches and cyberattacks. It’s also called cyber liability insurance.

  • Data breach investigations
  • Client notification expenses
  • Fraud monitoring services

Commercial auto insurance

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This policy is required for vehicles owned by Colorado small businesses. It helps cover legal defense costs from an accident, along with other financial losses.

  • Injuries caused by your vehicle
  • Property damage caused by your vehicle
  • Vehicle theft and vandalism

Fidelity bonds

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A fidelity bond reimburses your clients in the event of employee theft. Your clients may ask you to secure a bond before they will work with your business.

  • Illegal electronic funds transfer
  • Forged signatures
  • Theft of cash or property

Commercial umbrella insurance

Umbrella / excess liability insurance icon

An umbrella policy boosts the coverage of your general liability, commercial auto, and employer's liability insurance. It can help your small business comply with requests for higher liability limits.

  • Personal injury lawsuits
  • Auto accident lawsuits
  • Workplace injury lawsuits

Looking for different coverage? Check out our other policies.

What are the insurance requirements for small businesses in Colorado?

State laws can affect which policies you need. These insurance products are required for Colorado businesses.

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Workers' compensation insurance

Colorado state law requires businesses with one or more employees, full-time or part-time, to carry workers’ compensation insurance. Additionally, everyone who works in the construction industry must carry this coverage. This includes sole proprietors and partners, unless they file a rejection of coverage form.

Workers' comp covers medical bills for work-related injuries and illnesses. Most policies include employer's liability insurance, which helps pay for lawsuits from injured Colorado workers.

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Commercial auto insurance

Vehicles owned by limited liability companies (LLCs), startups, and other businesses in Colorado must be covered by commercial auto insurance.

Colorado's requirements for auto liability coverage are:

  • Bodily injury liability per person: $25,000
  • Bodily injury liability per accident: $50,000
  • Property damage liability per accident: $15,000

Though it's not required, personal vehicles driven for work purposes should be covered by hired and non-owned auto insurance (HNOA), as personal auto policies usually exclude business use. It can be added to general liability insurance or a business owner's policy.

How much does small business insurance cost in Colorado?

Small business owner calculating their business insurance costs.

Commercial insurance can be affordable for small businesses with low risks. Average costs for TechInsurance customers in Colorado are:

General liability: $52 per month
Professional liability / E&O: $68 per month
Workers' compensation: $54 per month

Factors that influence the cost of business insurance include:

  • Your industry and risk
  • Business operations
  • Number of employees
  • Types of insurance purchased
  • Policy limits and deductibles
  • Claims history

Why Colorado business owners choose TechInsurance

Gain financial protection

The costs from a lawsuit or data breach can overwhelm a small business. Protect against common risks with the right business insurance coverage.

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Gain financial protection
The costs from a lawsuit or data breach can overwhelm a small business. Protect against common risks with the right business insurance coverage.
Win contracts and new clients
Clients want to know your small business can handle a lawsuit or disruption. Buy a policy and get a certificate of insurance fast with TechInsurance.
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Consult an expert
Our licensed agents know Colorado insurance and small businesses like yours. Get expert advice about business liability insurance for your unique risks.
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Find insurance policies for your small business in Colorado

Whether you need coverage to sign a contract, rent an office, or get a license, TechInsurance can help you find the right business insurance policies. Our insurance agents are licensed in Colorado and can help you find affordable policies from top-rated insurance companies.

Get started today by filling out our easy application. You can chat with an agent about your business insurance needs and get answers to any questions. When you're ready, pay for a policy online and get a certificate of insurance (COI) immediately to show clients that your business is protected.

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