Find the Best Business Insurance Options in Louisiana
There are many reasons you'd want to own a business in Louisiana, including the state's incredible tourism draw annually. But if you own a company, you'll want to make sure it's protected by a business insurance policy. Business insurance can help reimburse you for company losses related to several incidents, including fire damage, employee theft, company vehicle accidents, and more.
Louisiana is home to more than 447,000 small businesses currently, and its over 902,000 small business employees need to be protected, too. Fortunately, an independent insurance agent in Louisiana can help your company get protected by the right type of coverage. For starters, however, let's take a closer look at Louisiana business insurance requirements and more.
Best Business Insurance Companies in Louisiana
Many insurance companies in Louisiana offer business insurance policies, but some are superior to others. That's why we created a list of only the best options for you. Check out our top picks for business insurance in Louisiana when you're in need of finding coverage for your company.
- Progressive: Progressive is a carrier that provides many coverage options besides business insurance. It has great financial strength, offers many discounts, and provides 24/7/365 customer service.
- Liberty Mutual: Liberty Mutual is a carrier that also sells many different business and other insurance products. It is a Fortune 500 company that has excellent ratings from AM Best and the Better Business Bureau (BBB) and offers 24/7 claims reporting.
- Nationwide: Nationwide also sells business insurance and many types of personal insurance. It has excellent ratings from both AM Best and the BBB and offers 24/7 claims reporting.
- Travelers: Travelers also sells business insurance and many types of personal coverage. It is known for its continuous outstanding customer service and many discount options.
A Louisiana independent insurance agent can help you browse business insurance policy options from these top-rated carriers in your area.
Louisiana Business Insurance Requirements
Louisiana state law requires all companies with at least one employee and $3,000 or more of annual payroll to offer workers' compensation. Though this is technically the only mandatory business insurance, your company likely requires other forms of protection, too. You may want to add business income coverage to your policy to protect against lost revenue and employee payroll during temporary closures. You may also need commercial auto coverage if you have any company vehicles. Further, general liability coverage for your business can be critical in a lawsuit.
Louisiana's law requires all businesses with any number of employees and at least $3,000 in annual revenue to carry workers' comp. The only state-mandated type of business insurance in Louisiana is:
Optional forms of business insurance coverage in Louisiana include:
- Professional liability insurance
- Business income insurance
- Commercial property insurance
- Commercial general liability insurance
- Cyber liability insurance
- Commercial auto insurance
Working with an independent insurance agent in Louisiana can ensure your company gets protection with all the coverage it needs.
What Business Insurance Covers in Louisiana
A business insurance policy in Louisiana can be customized to meet your company's needs. That means policies don't come standard, so neither do their coverages. You'll want to build a business insurance policy that covers all of your company's vulnerable areas. So, if you have company vehicles, you'll want to add commercial auto coverage to your business insurance policy. If you have customers or otherwise interact with the public, you'll want to add commercial general liability coverage to protect against lawsuits filed by third parties. You'll also want to add commercial property coverage if your business has physical buildings like offices or storefronts or has inventory that can be stolen or damaged.
Liability Coverage Options for Small Businesses in Louisiana
Getting protected by the right kind of liability coverage is critical to avoid potentially devastating expenses after just one lawsuit. Consider adding one or all of these types of liability protection to your Louisiana business insurance policy:
- Commercial general liability insurance: This coverage pays for the cost of lawsuits if a third party sues your business for personal property damage or bodily injury.
- Professional liability insurance: This coverage pays for the cost of lawsuits if your business is accused of providing improper or inaccurate services or advice to the public.
- Cyber liability insurance: This coverage pays for the cost of lawsuits if your business falls victim to cybercrimes or data breaches.
A Louisiana independent insurance agent can help you choose the right kind and amount of liability protection for your company.
Property Coverage Options for Small Businesses in Louisiana
Protecting any company inventory or physical structures is also essential for maintaining smooth business operations. Consider adding this critical coverage to your Louisiana business insurance policy as well:
- Commercial property insurance: This coverage pays for losses after covered incidents like fire, theft, vandalism, etc., damage or destroy company property, including physical structures and inventory.
Your Louisiana independent insurance agent can help you add all the commercial property coverage you need to your business insurance policy.
Other Insurance Options for Small Business Owners in Louisiana
Your business insurance policy may still not be complete. You may greatly benefit from adding one or both of these additional coverages, too:
- Business income insurance: For businesses that must temporarily close after covered disasters like fires, this coverage can pay for expected revenue and employee payroll during this time.
- Commercial auto insurance: For businesses with company vehicles that are used for deliveries, etc., this coverage can pay for losses from fire, theft, vandalism, windshield breaks, accidents, lawsuits, and much more.
A Louisiana independent insurance agent can help you find all the additional types of business insurance you may need.
Average Cost of Business Insurance in Louisiana
In Louisiana, business insurance policies don't come standard, and neither do their premiums. The more coverage your business needs and the riskier its industry and location, the more coverage will cost, on average. Likewise, if your business is smaller and safer in terms of operations, you can expect to pay much less for your coverage. Businesses that have more employees and have filed more claims in the past can also expect to pay quite a bit more for business insurance than those that haven't.
National Business Insurance Stats
Number of businesses in the US: 30,819,176
Burglary rate per 1,000 residents in the US: 3.76
Auto theft rate per 1,000 vehicles in the US: 2.29
| City | No. of businesses | Burglaries / 1,000 people | Auto thefts / 1,000 cars |
| Alexandria | 4,394 | 19.13 | 4.98 |
| Baker | 1,062 | 3.39 | 0.76 |
| Bastrop | 1,002 | 29.74 | 2.56 |
| Baton Rouge | 25,952 | 10.23 | 3.62 |
| Bogalusa | 1,193 | 10.96 | 3.17 |
| Eunice | 1,119 | 10.46 | 2.92 |
| Gonzales | 1,504 | 3.57 | 4.11 |
| Gretna | 2,447 | 4.74 | 2.99 |
| Kenner | 7,783 | 1.85 | 2.15 |
| Lafayette | 17,238 | 8.15 | 2.53 |
| Zachary | 1,377 | 2.17 | 1.89 |
How Does Your Louisiana City Measure Up?
Commercial property: Businesses in Breaux Bridge must protect company property, including storefronts, offices, inventory, and more, against many different threats. Disasters, including theft, vandalism, fire damage, and more, are covered by this insurance. Without this coverage, your business would have to pay for repairs or replacements of company property on its own.
Commercial general liability: Businesses in Breaux Bridge must have protection against the cost of third-party lawsuits for claims of bodily injury or personal property damage. This coverage can reimburse your business for the costs of attorney, courtroom, and settlement fees, if necessary.
Workers' compensation: Businesses in Breaux Bridge must also have protection against employee injury or illness caused by the work environment or job tasks. Coverage is mandatory if you have one or more employees and at least $3,000 of annual payroll.
Based on a $100,000 annual payroll, here are the average costs of workers' comp coverage for two major industries in Breaux Bridge:
Mining and Quarrying Industry: $1,572/year
Construction Industry: $1,464/year
Commercial property: Businesses in Donaldsonville must protect company property, including storefronts, offices, inventory, and more, against many threats. Disasters, including theft, vandalism, fire damage, and more, are covered by this insurance. Without this coverage, your business would have to pay for repairs or replacements of company property on its own.
Commercial general liability: Businesses in Donaldsonville must have protection against the cost of third-party lawsuits for claims of bodily injury or personal property damage. This coverage can reimburse your business for the costs of attorney, courtroom, and settlement fees, if necessary.
Workers' compensation: Businesses in Donaldsonville must also have protection against employee injury or illness caused by the work environment or job tasks. Coverage is mandatory if you have one or more employees and at least $3,000 of annual payroll.
Based on a $100,000 annual payroll, here are the average costs of workers' comp coverage for two major industries in Donaldsonville:
Manufacturing Industry: $745/year
Construction Industry: $1,464/year
Commercial property: Businesses in Gonzales must protect company property, including storefronts, offices, inventory, and more, against many threats. Disasters, including theft, vandalism, fire damage, and more, are covered by this insurance. Without this coverage, your business would have to pay for repairs or replacements of company property on its own.
Commercial general liability: Businesses in Gonzales must have protection against the cost of third-party lawsuits for claims of bodily injury or personal property damage. This coverage can reimburse your business for the costs of attorney, courtroom, and settlement fees, if necessary.
Workers' compensation: Businesses in Gonzales must also have protection against employee injury or illness caused by the work environment or job tasks. Coverage is mandatory if you have one or more employees and at least $3,000 of annual payroll.
Based on a $100,000 annual payroll, here are the average costs of workers' comp coverage for two major industries in Gonzales:
Manufacturing Industry: $745/year
Construction Industry: $1,464/year
Commercial property: Businesses in Leesville must protect company property, including storefronts, offices, inventory, and more, against many threats. Disasters, including theft, vandalism, fire damage, and more, are covered by this insurance. Without this coverage, your business would have to pay for repairs or replacements of company property on its own.
Commercial general liability: Businesses in Leesville must have protection against the cost of third-party lawsuits for claims of bodily injury or personal property damage. This coverage can reimburse your business for the costs of attorney, courtroom, and settlement fees, if necessary.
Workers' compensation: Businesses in Leesville must also have protection against employee injury or illness caused by the work environment or job tasks. Coverage is mandatory if you have one or more employees and at least $3,000 of annual payroll.
Based on a $100,000 annual payroll, here are the average costs of workers' comp coverage for two major industries in Leesville:
Accommodation and Food Services Industry: $274/year
Public Administration Services Industry: $86/year
Commercial property: Businesses in New Orleans must protect company property, including storefronts, offices, inventory, and more, against many different threats. Disasters, including theft, vandalism, fire damage, and more, are covered by this insurance. Without this coverage, your business would have to pay for repairs or replacements of company property on its own.
Commercial general liability: Businesses in New Orleans must have protection against the cost of third-party lawsuits for claims of bodily injury or personal property damage. This coverage can reimburse your business for the costs of attorney, courtroom, and settlement fees, if necessary.
Workers' compensation: Businesses in New Orleans must also have protection against employee injury or illness caused by the work environment or job tasks. Coverage is mandatory if you have one or more employees and at least $3,000 of annual payroll.
Based on a $100,000 annual payroll, here are the average costs of workers' comp coverage for two major industries in New Orleans:
Accommodation and Food Services Industry: $274year
Construction Industry: $1,464/year
Commercial property: Businesses in Oakdale must protect company property, including storefronts, offices, inventory, and more, against many threats. Disasters, including theft, vandalism, fire damage, and more, are covered by this insurance. Without this coverage, your business would have to pay for repairs or replacements of company property on its own.
Commercial general liability: Businesses in Oakdale must have protection against the cost of third-party lawsuits for claims of bodily injury or personal property damage. This coverage can reimburse your business for the costs of attorney, courtroom, and settlement fees, if necessary.
Workers' compensation: Businesses in Oakdale must also have protection against employee injury or illness caused by the work environment or job tasks. Coverage is mandatory if you have one or more employees and at least $3,000 of annual payroll.
Based on a $100,000 annual payroll, here are the average costs of workers' comp coverage for two major industries in Oakdale:
Construction Industry: $1,464/year
Retail Trade Industry: $343/year
Commercial property: Businesses in Plaquemine must protect company property, including storefronts, offices, inventory, and more, against many threats. Disasters, including theft, vandalism, fire damage, and more, are covered by this insurance. Without this coverage, your business would have to pay for repairs or replacements of company property on its own.
Commercial general liability: Businesses in Plaquemine must have protection against the cost of third-party lawsuits for claims of bodily injury or personal property damage. This coverage can reimburse your business for the costs of attorney, courtroom, and settlement fees, if necessary.
Workers' compensation: Businesses in Plaquemine must also have protection against employee injury or illness caused by the work environment or job tasks. Coverage is mandatory if you have one or more employees and at least $3,000 of annual payroll.
Based on a $100,000 annual payroll, here are the average costs of workers' comp coverage for two major industries in Plaquemine:
Manufacturing Industry: $745/year
Construction Industry: $1,464/year
Commercial property: Businesses in Rayne must protect company property, including storefronts, offices, inventory, and more, against many threats. Disasters, including theft, vandalism, fire damage, and more, are covered by this insurance. Without this coverage, your business would have to pay for repairs or replacements of company property on its own.
Commercial general liability: Businesses in Rayne must have protection against the cost of third-party lawsuits for claims of bodily injury or personal property damage. This coverage can reimburse your business for the costs of attorney, courtroom, and settlement fees, if necessary.
Workers' compensation: Businesses in Rayne must also have protection against employee injury or illness caused by the work environment or job tasks. Coverage is mandatory if you have one or more employees and at least $3,000 of annual payroll.
Based on a $100,000 annual payroll, here are the average costs of workers' comp coverage for two major industries in Rayne:
Mining and Quarrying Industry: $1,572/year
Retail Trade Industry: $343/year
Commercial property: Businesses in Tallulah must protect company property, including storefronts, offices, inventory, and more, against many threats. Disasters, including theft, vandalism, fire damage, and more, are covered by this insurance. Without this coverage, your business would have to pay for repairs or replacements of company property on its own.
Commercial general liability: Businesses in Tallulah must have protection against the cost of third-party lawsuits for claims of bodily injury or personal property damage. This coverage can reimburse your business for the costs of attorney, courtroom, and settlement fees, if necessary.
Workers' compensation: Businesses in Tallulah must also have protection against employee injury or illness caused by the work environment or job tasks. Coverage is mandatory if you have one or more employees and at least $3,000 of annual payroll.
Based on a $100,000 annual payroll, here are the average costs of workers' comp coverage for two major industries in Tallulah:
Public Administration Services Industry: $86/year
Manufacturing Industry: $745/year
Commercial property: Businesses in Westwego must protect company property, including storefronts, offices, inventory, and more, against many different threats. Disasters, including theft, vandalism, fire damage, and more, are covered by this insurance. Without this coverage, your business would have to pay for repairs or replacements of company property on its own.
Commercial general liability: Businesses in Westwego must have protection against the cost of third-party lawsuits for claims of bodily injury or personal property damage. This coverage can reimburse your business for the costs of attorney, courtroom, and settlement fees, if necessary.
Workers' compensation: Businesses in Westwego must also have protection against employee injury or illness caused by the work environment or job tasks. Coverage is mandatory if you have one or more employees and at least $3,000 of annual payroll.
Based on a $100,000 annual payroll, here are the average costs of workers' comp coverage for two major industries in Westwego:
Construction Industry: $1,464/year
Manufacturing Industry: $745/year
Louisiana Business Insurance FAQ
Your business insurance costs in Louisiana will depend on many different things, including what types and amounts of coverage you select to go into your policy and your business's size, number of employees, claims history, exact location, and more.
All businesses in Louisiana with at least one employee and at least $3,000 of annual payroll are required by state law to carry workers' comp. Other than that, each type of business insurance is technically optional, though highly recommended.
What your business insurance covers in Louisiana will depend entirely on what you put into your policy. You'll likely want to aim for a business insurance policy that includes at least workers' comp, business income coverage, general liability coverage, cyber liability coverage, commercial auto coverage, etc.
Small business liability insurance in Louisiana covers the costs of lawsuits if your company gets sued by a third party for claims of bodily injury or personal property damage.
Yes, small business health insurance plans are available in Louisiana and cost an average of $149 per employee. If your business has 25 or fewer employees, it may also qualify for a tax credit on this coverage.
Our research found that the best small business insurance companies in Louisiana are Progressive, Liberty Mutual, Nationwide, and Travelers. We chose these companies based on official financial strength ratings, customer service reviews, policy options and rates, discount offerings, and more.
Your Louisiana small business must have workers' comp if it has even one employee. But you may also require general liability coverage, business income coverage, commercial auto coverage, cyber liability coverage, and others that your independent insurance agent suggests.
No, all businesses that have at least one employee and $3,000 or more of annual payroll are required to provide workers' compensation by state law in Louisiana, regardless of industry.
An independent insurance agent in Louisiana can help make your coverage journey much more efficient. They can shop and compare policies from many different Louisiana business insurance companies for you, then provide you with the options that have the best blend of coverage and cost.
Do You Know What Your Business Insurance Covers in Louisiana?
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