Insurance for Small Business Owners in Delaware

Do You Need Small Business Insurance in Delaware?

While a sunrise on a world-class beach might be what attracts people to Delaware, being sales-tax-free is also very attractive to visitors. It’s certainly a big help to the Delaware retail small businesses. Other important industries in Delaware include technical services, real estate, construction, and healthcare.

  • There are over 88,000 small businesses in Delaware
  • 98.4% of businesses in Delaware are considered small businesses
  • Small businesses employ over 190,000 people in Delaware 

Delaware is considered the most small business-friendly state in the US! If you are a small business owner in Delaware, it is important to consider protecting your business with small business insurance. Small business owners in Delaware need to know that the state may require certain types of insurance related to specific professions—and some insurance coverages are required for all businesses. Find out more now!

Required Business Insurance Coverage in Delaware

Delaware requires the following insurance coverage for small businesses:
  1. Commercial Auto Insurance.

    Delaware small businesses that own vehicles are required to purchase commercial auto insurance. The Delaware requirement includes minimum coverage requirements for business-owned vehicles of $25,000 in bodily injury per person, $50,000 in bodily injury per accident, and $10,000 in property damage liability. Personal injury protection minimums of $15,000 per person and $30,000 per accident are also required.

  2. Workers’ Compensation Insurance.

    Delaware small businesses with one or more employees are required to carry workers’ compensation coverage, regardless if they are full- or part-time. Farm workers are exempt from this requirement. A workers’ compensation policy covers medical bills for work-related injuries and illnesses and provides temporary disability payments and compensation for permanent impairment. In exchange, employers cannot be sued for medical costs. 

Recommended Business Insurance Coverage in Delaware

The following insurance coverage is recommended for Delaware small businesses:
  1. Small Business Owner’s Insurance.

    Bundle property damage insurance and general liability into one comprehensive Business Owner’s Policy (BOP) for your Delaware small business. You get all of the convenience plus lower costs! A BOP typically covers losses and damages related to business property, customer or client medical expenses for onsite third-party accidents like a slip and fall, and advertising damage claims like copyright infringement.

  2. General Liability Insurance.

    You can obtain General Liability insurance for your Delaware small business as a separate minimum coverage if your business doesn’t need property coverage. If you lease space for your Delaware business, the property contract may require General Liability Insurance. It helps ease the financial burden of customer injury and typically covers third-party property damage, slander and libel lawsuits, and other third-party risks. 

  3. Professional Liability Insurance.

    Professional Liability (errors and omissions/E&O) insurance is recommended for small businesses in Delaware that provide expertise as a service, like technical services, finance, and design, as it can protect them from related damage claims. Professional liability insurance helps protect your small business from claims related to work mistakes and errors, missed deadlines, incomplete work, and negligence lawsuits. 

  4. Cyber Liability Insurance.

    Cybercrime is an increasing concern for small businesses, including in Delaware. Cyber Liability insurance is recommended for Delaware small businesses to help manage the results of a cyberattack, including help paying for customer notification and fraud monitoring costs and associated legal fees. Cyber insurance helps companies recover from malware, data breaches, phishing, and other common cyberattacks. 

  1. Q
    Does B2Z offer small business coverage in Delaware?

    Yes. We currently offer the following types of insurance policies to small business owners in Delaware:

  2. Q
    How do I get a quote for my small business insurance in Delaware?

    It’s simple! Click on the Get Your Quote button and answer a few questions.