The specific insurance coverage required for a small business depends on its operational model, but standard baseline policies typically include General Liability Insurance to cover third-party injuries and property damage, and Professional Indemnity Insurance if you provide expert advice or services. If you hire employees, statutory Workers' Compensation insurance is legally mandatory. Businesses with physical storefronts, inventory, or equipment also need Commercial Property Insurance and Business Interruption coverage to protect against unexpected asset losses.
1 votes
Marked as accepted