To get business insurance, decide which policies you need (our guides by industry list them for each type of business), gather the numbers insurers price on, then get quotes from more than one insurer, either directly or through a broker who compares them for you. Before you start, have these ready: your legal business name and EIN, a plain description of what you do (which sets your class code), annual revenue, payroll, number of employees, your business address, your claims history for the last few years and, if you have work vehicles, each vehicle's VIN and each driver's license number. With those in hand, a basic online quote often takes only a few minutes, according to Chubb.
Most of these items decide your price, not just your paperwork. The checklist below shows where each one appears on the standard application and what it changes. If you're not sure which policies you need yet, start with our business insurance guide.
The business insurance quote checklist
The insurance industry's standard commercial application is the ACORD 125, with a supplement for each line of coverage. Merchants Insurance Group's walk-through of the form lists its sections. Here is what you'll be asked, mapped to those sections:
| Have ready | Where it's asked (ACORD 125 section) | What it changes |
|---|---|---|
| Legal business name, DBA, mailing and physical address, website | Applicant information; premises | Who and where is insured; insurers write only in certain states, and rates vary by location |
| Entity type (sole proprietor, partnership, LLC, corporation) and FEIN/EIN | Applicant information | Who the policy covers as the named insured |
| What your business does, in plain words | Nature of business; applicant information (class codes) | Your class code, a main factor in which insurers will quote and at what rate |
| Date the business started | Nature of business | How much track record you have |
| Annual revenue | Premises information | A common premium base for general liability |
| Full-time and part-time employees, and payroll by type of work | Premises information; workers' comp supplement | The premium base for workers' comp, and for general liability in some trades |
| Whether you own or rent your space, and its size | Premises information | Property and premises liability |
| Your current or prior insurer, and past premiums | Prior carrier information | Shows continuous coverage |
| Claims in recent years (loss runs) | Loss history | Claims can raise your price or narrow which insurers will quote |
| Anyone your contracts or lease say must be named on the policy | Additional interest | Adds landlords, lenders or clients as additional insureds |
| Answers to yes/no questions about your operations | General information | Flags risks the insurer will ask about further |
| Vehicles (VINs) and drivers (license numbers, 3-year history) | Commercial auto supplement | Commercial auto pricing and eligibility |
You won't see the form itself if you quote online or through a broker. The questions are the same; the agent or website fills in the application from your answers.
Your business identity: name, EIN and entity type
Use the exact legal name and addresses on your state registration and IRS records. Maryland's business portal recommends keeping names and addresses identical across your state and IRS registrations; use the same ones on your insurance application.
An EIN (employer identification number) is free from the IRS, which says you "never have to pay a fee" for one. You need one if you have employees or operate as a partnership or corporation. If you're a sole proprietor without an EIN, ask the insurer or agent which ID number they need.
What your business does: the class code
Insurers sort every business into classes, and your class largely decides which insurers will quote you and the rate they use. General liability uses its own class codes, workers' comp uses state or NCCI codes, and many forms also ask for an industry code such as NAICS or SIC.
You don't need to know the codes. You need an accurate description of all your work, including the risky parts, because the class changes the price a lot. Insureon's tree service customers pay a median of $156 a month for general liability; its landscapers pay $51 (Insureon figures checked October 10, 2026).
To look up likely codes yourself, use the class code lookup. For background, see general liability class codes, NCCI class codes, NAICS codes and SIC codes.
Revenue and payroll: the numbers that set your price
For general liability and workers' comp, revenue and payroll are usually the numbers the premium is built on.
For general liability, Utica National's premium audit guide lists the bases a policy can be rated on: gross sales, payroll, subcontracted costs and admissions. A policy can use more than one. If you hire subcontractors, have their costs ready, and their certificates of insurance too.
For workers' comp, the premium is payroll in each job class, divided by $100, times that class's rate, then adjusted by your experience modification rate. The Texas Department of Insurance shows the math: roofing (class 5551) had a loss cost of 1.946 per $100 of payroll from July 1, 2026, and with the 1.50 loss cost multiplier in TDI's example the rate is 2.919. On $100,000 of roofing payroll, that's $2,919 before the experience mod and other adjustments. So split payroll by job type: office staff and roofers sit in very different classes.
Your quote uses estimates, and they get checked. Utica explains that after the policy year the insurer audits the real figures, using payroll records (941s, payroll reports, employee lists) or sales records (profit and loss statements, tax returns), and adjusts your premium. A low estimate saves money now and comes back as a bill later. Ask whether the insurer wants last year's figure or your estimate for the coming year. More on this in premium audits and our workers' comp audit guide.
Claims history: loss runs
If you've had business insurance before, insurers will want your loss runs: your current insurer's report of claims on your policies. Request them early, because they come from your old insurer, not the new one.
Some states set deadlines. In Florida, §627.444 requires an insurer to provide loss runs covering the past five years within 15 calendar days of your written request, and it can't charge for one request a year. Oregon's OAR 836-080-0810 also sets 15 calendar days and five years of history for commercial policies.
No prior insurance? Say so. A new business can still get quotes; it just has no history to show. Our loss runs guide explains how to read them, and the loss runs glossary entry covers the basics.
Vehicles and drivers, for commercial auto
Commercial auto quotes need more detail than any other line. Progressive Commercial's quote checklist asks for:
- each vehicle's VIN, or its year, make and model
- each driver's license number and three years of driving history: CDL status, accidents and violations
- your current declarations page, if you have one (Progressive says you can quote without a current policy)
Driving records affect auto pricing: Progressive's published average premiums assume drivers with no violations. See commercial auto insurance for what the policy covers and what it costs.
Contracts, leases and certificates
Read your lease and any client contracts before you quote. They may name minimum limits and require you to add the landlord or client as an additional insured. Give those requirements to the insurer up front, so the quote meets them.
Once the policy is bound, clients will ask for proof: a certificate of insurance, which your insurer or agent issues.
How long does it take, and where do you get quotes?
A basic online quote "will often take only a few minutes," Chubb says, while policies that need customising take longer. Gathering the checklist above can take longer than the quote.
You can quote with one insurer directly online, or use a broker who sends one set of answers to several insurers. The SBA notes that prices and benefits can vary significantly between options, which is the case for comparing. When your checklist is ready, compare business insurance quotes: our partner Kinro, a licensed broker, starts with four questions and an agent follows up for the rest.
Frequently Asked Questions
What information does an insurance company need for a business insurance quote?
Your legal name and EIN, entity type, address, a description of what you do, when you started, annual revenue, payroll and employee count, prior insurance and claims history, and any contract requirements. For commercial auto, add VINs and driver details.
Do I need an EIN to get business insurance?
The application asks for a FEIN. The IRS requires an EIN if you have employees or run a partnership or corporation, and it's free. If you're a sole proprietor without one, ask the insurer what number it needs instead.
Should I give my Social Security number to an insurance company?
Only to a licensed insurer or agent you've checked, and only if they say they need it. Ask why it's needed and whether your EIN will do. You can confirm a license with your state insurance department.
Can I get a business insurance quote without personal information?
You'll have to give business details and contact information so the insurer or agent can send a price. Figures like payroll and revenue can be good-faith estimates at the quote stage; they're checked at audit.
What happens if I underestimate payroll or revenue?
The insurer audits the real figures after the policy year and bills you the difference. If you overestimated, the audit can bring the premium down. Estimate honestly and tell your insurer about big changes during the year.
What is the ACORD 125?
The insurance industry's standard commercial application. It collects your business details, operations, premises, prior insurance and loss history, with a separate section for each policy. See ACORD 125 for the details.
