Whether you legally need insurance to own a business depends heavily on your corporate structure, industry, number of employees, and geographic location. While certain types of coverage—such as workers' compensation insurance for employees and commercial auto insurance for company vehicles—are strictly mandated by state or national laws, other policies like general liability or professional indemnity may be required by client contracts, commercial lease agreements, or professional licensing boards to protect against operational liabilities.
1 votes
Marked as accepted