All businesses need insurance, but how much and what type depends on your business activities. Many types of insurance are available; some are required by law and others are optional. Unless otherwise noted, most insurance can be obtained from an insurance company specializing in business insurance.
For information about a specific type of insurance, choose from the following:
Required Insurance
Businesses with employees must have worker’s comp and unemployment insurance (actually a tax). Classifying a worker as an independent contractor rather than an employee may result in a substantial fine if the worker is misclassified. Therefore, be certain you understand the difference and workers are correctly classified.
Optional Insurance
You may need one or more of the following insurance products, depending on your specific business activity. Your insurance agent or professional association can provide information.
Bonds
Health
Liability
- Automobile/Fleet
- Builders Risk Insurance
- Business Liability
- Business Interruption
- Business Identity Theft Insurance
- Business Theft Insurance
- Completed Operations(Errors and Omissions)
- Contents Insurance
- Director’s & Officer’s Liability Insurance
- Employment Practices Liability Insurance
- Export Credit Insurance
- General Liability
- Home Business/Office
- Product Liability
- Professional Liability
- Property Insurance
- Umbrella (Supplemental Liability)
Life Insurance