Colorado Business Insurance

Customized protection for your Colorado business

Colorado business owners should consider several types of commercial insurance for financial and legal reasons. A variety of work-related incidents, such as customer injury or property damage, can disrupt a business’s daily operations and financial assets. Insurance helps minimize these problems.

There are over 684,000 small businesses in Colorado that account for 99.5% of all businesses in the state, according to the Small Business Administration (SBA). These small businesses collectively employ 1.2 million people and are required by Colorado state law to protect them with workers’ compensation insurance.

Shop for workers’ comp, general liability and other coverages through the Progressive Advantage^® Business Program. Our team of licensed experts can help you customize a policy that fits your unique business.

Types of CO business insurance

General Liability

This is the most common business insurance coverage, and nearly all businesses in Colorado should have it. It protects against third-party bodily injury and property damage, as well as personal and advertising injury.

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Commercial Auto

This coverage protects against damage to your vehicles and trailers, as well as injuries or property damage related to their use. Your personal auto policy usually doesn’t cover vehicles while they’re being used for business reasons.

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Workers' Compensation

Businesses in Colorado are required to have workers' comp insurance if they have one or more employees. Workers’ compensation insurance helps pay for expenses related to employees becoming injured or ill while working for you.

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Business Owners Policy (BOP)

A BOP combines property and liability coverage into one easy-to-manage policy. It’s a great option for small to medium-sized businesses that rent or own commercial property, such as a storefront, warehouse or office building.

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Professional Liability

Colorado businesses that offer professional services should consider this coverage. It protects businesses from claims of professional negligence, both actual or alleged, and helps pay for defense costs. It’s also known as errors and omissions insurance (E&O).

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Cyber Insurance

This protects against incidents like data breaches and cyber attacks. It includes first-party and third-party protection for things like investigative services, data recovery and legal costs. Businesses that store or manage customer data, like credit card information, typically need this coverage.

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How much does business insurance cost in Colorado?

The cost of business insurance in Colorado depends on a business’s coverage needs, size and location. For example, a business in Denver can expect a different rate than a business in Colorado Springs.

The most influential cost factor is the level of risk associated with the type of work that’s done. For example, a contractor is usually exposed to more risk than a real estate agent because their work is physical and includes the use of heavy tools. In this scenario, the contractor can expect to pay more for coverage.

Learn more about the factors that affect your business insurance rate or get a quote online to find out what you’ll pay for customized coverage.

Colorado business insurance requirements

Workers’ compensation is required for all Colorado businesses with one or more employees. Small business owners have the option to purchase coverage through a commercial insurance carrier or through self-insurance programs, if qualified.

Most other business insurance coverages aren't required by law, though certain professional occupations might be required to carry professional liability coverage.

It’s generally a good idea to have some type of business insurance protection, even if it isn’t mandatory. An unexpected incident can result in a claim that can threaten your daily operations and cash flow.

Resources for Colorado small business owners:

Colorado Small Business Insurance Guide (Colorado Division of Insurance)
Workers’ Compensation in Colorado (Colorado Department of Labor and Employment)
2023 Colorado Small Business Profile (U.S. Small Business Administration)
2018 Colorado Workplace Injury Data (U.S. Bureau of Labor Statistics)

Colorado professions we insure

We help small business owners from a wide variety of industries, including these common professions:

Browse more examples of professions we insure.

Why choose Progressive?

Options

We can help you secure coverage at any stage of your business’s development with the flexibility to adjust your policy as your business changes. Our agents will work with you to make sure you’re getting protection that meets both your needs and budget.
Experts

As the #1 commercial auto insurer in America^*, you can trust us with all your business insurance needs. Our team of specially trained, in-house agents can assist you every step of the way to make sure you’re getting the best coverage for your business.
Convenience

There are several ways to get a quote, whether you need a single Colorado policy or a combination of business insurance coverages. Simply start a quote online or call us to speak with an agent.