Policy TypeGeneral Liability InsuranceErrors and Omissions InsuranceCommercial Auto InsuranceTools and Equipment InsuranceWorkers Compensation Insurance
Primary CoverageThird-party bodily injury and property damageProfessional mistakes and missed deliverablesVehicle damage and third-party liabilityEquipment theft and damageEmployee medical bills and lost wages
Typical Minimum Coverage$1M per occurrence / $2M aggregateVaries by business revenueVaries by state requirementsBased on equipment valueRequired by state law
Annual Cost Range$500–$2,000$2,000–$8,000$1,200–$3,000 per vehicle1–3% of equipment value$0.75–$3.50 per $100 payroll
Best ForClient injuries or property damage claimsService providers and consultantsBusinesses with company vehiclesConstruction and detection equipmentAll businesses with employees
Mandatory❌❌✅❌✅
Coverage TriggerIncident occurs during policy periodService or work performed during periodVehicle use during policy periodLoss occurs during policy periodEmployee injury during policy period
Typical Deductible$500–$2,500$1,000–$5,000$500–$1,500$500–$2,500None (employer pays 100%)
Claims-Made vs OccurrenceOccurrence basisClaims-made basisOccurrence basisOccurrence basisOccurrence basis
Coverage ScopeBroad (incidents on/off premises)Narrow (professional services only)Vehicles and hired/non-owned autosSpecified equipment onlyAll eligible employees
Exclusions to NoteIntentional acts, contractual liabilityCriminal acts, contractual breachesRacing, commercial haulingNormal wear and tearIndependent contractors