Small Business Insurance Checklist for 2026 — What Every Owner Needs

Running a small business means wearing a lot of hats. Insurance shouldn't be an afterthought — it's the foundation that protects everything you've built. Here's a comprehensive checklist for 2026.

Core Coverage Every Business Needs

• General Liability Insurance — Protects against third-party bodily injury, property damage, and advertising injury claims. Non-negotiable for any business.
• Commercial Property Insurance — Covers your building, equipment, inventory, and furnishings against fire, theft, and weather damage.
• Business Owner's Policy (BOP) — Bundles general liability and commercial property into one affordable package. Ideal for most small businesses.

If You Have Employees

• Workers' Compensation — Required in most states for any business with employees. Covers medical costs and lost wages for work-related injuries.
• Employment Practices Liability (EPLI) — Protects against claims of discrimination, harassment, or wrongful termination.

If You Use Vehicles for Business

• Commercial Auto Insurance — Personal auto policies typically exclude business use. If anyone drives for your business, you need commercial coverage.

Industry-Specific Coverage to Consider

• Professional Liability / E&O — Essential for consultants, contractors, accountants, and service businesses
• Cyber Liability — Growing risk for any business that stores customer data or processes payments online
• Product Liability — Critical if you manufacture, distribute, or sell physical products
• Umbrella / Excess Liability — Extra protection above your standard policy limits

Your 2026 Business Insurance Review

Insurance needs change as your business grows. If it's been more than a year since your last review, now is the time. Changes to watch for:

• New employees hired
• New equipment or property acquired
• New locations or services added
• Significant revenue growth

Contact Markve Insurance at 605.232.3333 for a free business insurance review. We're licensed in 13 states and specialize in building custom coverage packages for small businesses.