Does a single member LLC need insurance? Yes. Single member LLC insurance requirements mirror those of multi-member LLCs for general liability and commercial auto. Workers’ comp is only required if you hire employees. Many single-member operators start with a general liability policy from Hiscox or Next Insurance at $11–$30/month.
What does LLC insurance cover? LLC insurance covers third-party bodily injury and property damage (general liability), your business property and income (BOP), professional mistakes and negligence (E&O), employee work-related injuries (workers’ comp), business vehicle accidents (commercial auto), and data breach costs (cyber liability).