There are several types of business insurance on the market. Each one serves a different purpose, and getting the right insurance can save you the major headache that comes with not having insurance or having the wrong type of coverage. While we can’t list them all here (there are too many!), here are a few examples:
Commercial property insurance – This is one of the most important forms of insurance. It protects equipment in the business against damage or loss.
General liability insurance – This is another important one. It helps cover injury and legal expenses should someone get hurt on your business’s premises.
Cyber-insurance – This offers protection should you fall victim to malware, cyberattacks and other digital threats. Basically, if your business is connected to the Internet, you need extra protection.
Umbrella insurance – This is another layer of protection on top of existing insurance. Exact details vary by plan, but it can often protect you if you need to pay legal fees or costs related to building or equipment damage.Small Business Trends, May 13, 2020