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Insurance For Your Small Business: What You Need To Know

As a small business owner, you wear many hats. You’re the CEO, the marketing department, the HR manager, and sometimes even the janitor. With so many responsibilities, it’s easy to let things fall through the cracks—including getting insurance for your business. But trust us, it’s worth the time and effort to get insured. Here’s a rundown of some of the most common types of best business insurance.

Business Property Insurance

Whether you own or lease your commercial space, business property insurance is a must. This type of insurance protects your building (and the contents within it) from damage caused by events like fires, storms, theft, and vandalism. If you have customers or clients who come to your office or store, business property insurance can also cover any injuries that occur on your premises.

Product Liability Insurance

If you manufacture, distribute, or sell products, product liability insurance is a must. This type of insurance protects your business from legal action in the event that one of your products hurts someone or damages their property. Even if you take all the necessary precautions, accidents can still happen—so it’s better to be safe than sorry.

Professional Liability Insurance (Aka E&O Insurance)

If you provide professional services like consulting, accounting, or financial advice, professional liability insurance (also known as “errors and omissions” insurance) is a must. This type of insurance protects you from legal action in the event that you are accused of making a mistake or failing to deliver on a professional promise.

Commercial Auto Insurance

If you use vehicles for business purposes—whether it’s to make deliveries or transport clients or employees—commercial auto insurance is a must-have. This type of insurance protects your vehicles from damage caused by accidents, theft, weather damage, and more. It also offers protection if one of your employees gets into an accident while driving on behalf of your business.

Workers’ Compensation Insurance

In most states, if you have employees, you are required to have workers’ compensation insurance. This insurance gives benefits to employees who get hurt or sick because of their job. Workers’ compensation can pay for medical expenses, income replacement, and more.

Cyber Liability Insurance

With more and more businesses conducting transactions online, cyber liability insurance is becoming increasingly important. This type of insurance protects your business from legal action in the event that sensitive data like customer credit card information is compromised in a data breach.

Which One Should You Get?

The type of insurance you need for your business depends on a number of factors, including the size of your business, the products or services you offer, and the amount of risk you’re willing to take on. While it’s impossible to predict the future, getting insured is one of the best ways to protect yourself (and your business) from potential legal problems down the road.

If you’re not sure which types of insurance are right for your business, reach out to a licensed insurance agent or broker. They’ll be able to assess your needs and recommend the best coverage for your situation.


As a small business owner, it’s important to get insurance for your business. There are a variety of different types of insurance available, and the type you need depends on your business’s size, products or services offered, and the amount of risk you’re willing to take on. A licensed insurance agent or broker can help you assess your needs.


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