Small Business Insurance Eligibility Guide for Independent Agents
For independent agents placing small commercial accounts with Coterie, you can use this small business insurance eligibility guide as a high-level overview of our appetite to pre-screen clients, select the right coverage, and start a bindable quote in under a minute.
Table of Contents
How to Use This Guide
Match your client’s business class to the relevant section, check eligibility criteria, confirm coverage fit, then start a quote . While the quick reference guide gives general information, Coterie writes very specific NAICS codes. Please reference Coterie’s digital appetite guide for specific businesses.
Coterie Coverage Quick Reference
Product definitions for quick reference:
| Product | What It Covers | What It Does Not Cover |
| Business Owners Policy (BOP) | General Liability + commercial property + business interruption | Professional liability, workers’ comp, commercial auto, cyber (unless endorsed) |
| General Liability (GL) | Bodily injury, property damage, personal injury (slander/libel), false/misleading advertising | Professional liability, property, business interruption |
| Misc. Professional Liability (MPL) | Negligence, malpractice, errors, misrepresentation, incomplete/inaccurate work, breaches of contract | Bodily injury, property damage |
Coterie’s General Eligibility Thresholds
| Threshold | Standard | Contractors |
| Maximum employees | 50 | 15 |
| Maximum annual revenue | $10M | $5M |
*subject to change, please check your quote page during a quote and choose what makes sense for the business you are writing
Office-Based Businesses
Examples include: Accountants, consultants, real estate offices, insurance agencies, tech firms, and admin services.
Available Coverages
| Coverage | Fit | Notes |
| BOP | Standard placement | Bundles GL, property, and business interruption for offices with furniture, equipment, or leased space |
| GL (Standalone) | Good alternative | Appropriate when the client has no meaningful property exposure (e.g., a home-based consultant) |
| MPL | Strongly recommended | Any profession providing advice, analysis, or recommendations should carry E&O |
BOP is the default for most office-based accounts with a physical location. For home-based or virtual operations with minimal property, standalone GL may be sufficient. Pair either option with MPL for any advice-giving profession.
Small Business Eligibility Criteria
- 50 or fewer employees
- $10M or less in annual revenue
- Low physical hazard, professional operations
- Physical office, coworking space, or home-based location
Notable Exclusions
- Professional liability is not included in the BOP. Accountants, consultants, real estate professionals, and similar classes need a separate MPL policy for this coverage.
Retail Businesses
Examples include: Clothing stores, gift shops, specialty retail, convenience stores, and boutiques
Available Coverages
| Coverage | Fit | Notes |
| BOP | Primary placement | Property coverage for inventory and equipment is the key driver alongside GL |
| GL (Standalone) | Situational | Useful for pop-up or temporary retail with minimal owned property |
| MPL | Rarely needed | Retail operations typically do not provide professional advice or services |
BOP is the right starting point for almost every retail account. Inventory, fixtures, and equipment represent real property exposure that standalone GL would leave uncovered. The business interruption component also matters for retailers dependent on foot traffic and seasonal revenue.
Small Business Eligibility Criteria
- Physical storefront (brick-and-mortar location)
- 50 or fewer employees
- $10M or less in annual revenue
- Low-to-moderate hazard classification
- Inventory and equipment values within BOP property limits
Notable Exclusions
- Liquor liability is excluded from the standard BOP. Retailers selling alcohol (wine shops, convenience stores with beer/wine sales) need a separate liquor liability policy.
- Commercial auto is excluded. Delivery vehicles or company cars require a separate commercial auto policy.
- Cyber coverage is not included unless added by endorsement.
Professional Services
Examples include: Marketing agencies, IT consultants, designers, CPAs, staffing firms, and management consultants.
Available Coverages
| Coverage | Fit | Notes |
| BOP | Premises coverage | Covers the physical office, equipment, and business interruption |
| GL (Standalone) | Alternative to BOP | Works if the firm has no significant property exposure |
| MPL | Required | Covers negligence, errors, misrepresentation, incomplete work, and breaches of contract |
Professional services firms need two separate policies to be properly covered. BOP (or standalone GL) handles premises liability, third-party bodily injury, and property damage. MPL covers the professional work itself, including claims of negligence, malpractice, and contractual breaches.
Small Business Eligibility Criteria
- Service-based operations (revenue derived from expertise, advice, or project deliverables)
- 50 or fewer employees
- $10M or less in annual revenue
- No heavy physical hazard exposure
- Clean claims history on professional liability
Notable Exclusions
- MPL does not cover bodily injury or property damage. Those exposures fall under GL or BOP. Agents should place both policies for complete coverage.
- BOP does not include professional liability, even for professional services firms. The coverage gap between BOP and MPL is common and worth flagging to clients who assume a BOP covers “everything.”
Restaurants
Examples include: Brick-and-mortar restaurants, cafes, food trucks, and catering businesses.
Available Coverages
| Coverage | Fit | Notes |
| BOP | Available with restrictions | Tighter underwriting than office or retail classes |
| GL (Standalone) | Good option | Fits lower-revenue or higher-risk restaurant classes where BOP eligibility is marginal |
| MPL | Not applicable | Restaurants do not typically have professional liability exposure |
BOP eligibility for restaurants depends on several factors that do not apply to other classes. Standalone GL is a practical alternative for food trucks, small catering operations, or restaurants that fall outside BOP restrictions.
Small Business Eligibility Criteria
Restaurant underwriting is more granular than other small commercial classes. Three factors carry the most weight:
| Factor | Why It Matters |
| Seating capacity | Higher capacity increases slip-and-fall frequency and fire load |
| Construction type | Frame construction carries higher property risk than masonry |
| Annual revenue | Proxy for volume, foot traffic, and overall exposure |
Additional criteria:
- 50 or fewer employees, $10M or less revenue (standard thresholds still apply)
- Operating kitchen equipment, grease traps, and fire suppression in good working order
- No extensive delivery fleet (commercial auto is excluded)
Notable Exclusions
- Food contamination coverage requires an endorsement. Standard BOP and GL policies do not cover spoilage, contamination, or recall-related losses without adding this endorsement.
- Delivery vehicles are excluded from BOP. Restaurants using owned vehicles for delivery or catering need a separate commercial auto policy.
Low-Hazard Service Businesses
Examples include: Janitorial services, answering services, repair/maintenance, travel agents, payroll processing, and interior designers.
Available Coverages
| Coverage | Fit | Notes |
| GL | Often primary | Many low-hazard service businesses have minimal property but real liability exposure |
| BOP | When property matters | Appropriate if the business owns equipment, maintains inventory, or leases dedicated space |
| MPL | For advice-giving classes | Interior designers, consultants, and similar professionals need E&O coverage |
General Liability is typically the first policy to place for service businesses operating on client premises or with minimal owned property. BOP becomes the better fit when the business has meaningful equipment (janitorial companies with floor machines, repair shops with tools and parts inventory) or leases commercial space.
Coterie writes the following service industry classes:
- Telephone Answering Service
- Secretarial and Document Preparation
- Janitorial Services
- Insurance Agents
- Travel Agents
- Household Goods and Appliances Repair and Maintenance
- Chiropractors’ Offices
- Interior Design, Decorating, and Consulting Services
- Payroll Processing and Talent Payment Services
Small Business Eligibility Criteria
- Low physical hazard classification
- 50 or fewer employees
- $10M or less in annual revenue (contractor sub-limits of 15 employees / $5M revenue apply where relevant)
- Coterie has strong appetite for this segment, and most classes within it receive instant quoting
Notable Exclusions
- Professional liability is not included in BOP. Interior designers, travel agents, insurance agents, and other advice-giving service classes should add a separate MPL policy.
- Workers’ comp is always separate. Janitorial and repair/maintenance businesses with field employees should address workers’ comp through a separate carrier or policy.
High-hazard service work (abatement, demolition, heavy equipment operation) falls outside Coterie’s appetite.
Start a Quote or Become a Coterie Insurance Producer
Now that you know some general appetite guidelines, you can continue to explore using our Digital Appetite Checker.
If you are a Coterie agent, you can start a quote on our dashboard. Are you an agent looking for a direct appointment with Coterie? You can learn more and fill out our Become a Producer form on our website.
This article is intended to provide a general summary of Coterie’s products and services. The information contained in this document is for informational purposes only and does not in any way amend, alter, or extend any policy of insurance or guarantee any specific price, quote or coverage. For a complete understanding of the coverage available, please consult the terms, conditions, definitions, and exclusions of your insurance policy. Please be advised that all products and coverages referenced herein may not be available in all states or to all customers. Please see Coterie’s Terms & Conditions and Privacy Policy for more information.
