Business Insurance Basics Every Owner Should Know
The core coverages that protect your business — and how to think about what you actually need.
Insurance is how you keep one bad event from ending your business. You do not need every policy, but you should understand the core ones and choose deliberately.
General liability
Covers third-party claims of bodily injury or property damage. It is the baseline most businesses carry, and many clients and landlords require it before they will work with you.
Professional liability
Also called errors and omissions. If you give advice or provide a service, this covers claims that your work caused a client a loss.
Business owner's policy (BOP)
Bundles general liability with property coverage at a lower combined cost — a common, efficient starting point for small businesses.
Workers' compensation
Required in most states the moment you have employees. It covers work-related injuries and is not optional where mandated.
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