Business insurance is a type of insurance that protects the business from financial losses caused by the business operations. There are many types of business insurance such as property insurance, employee insurance, and legal insurance.
1. Types of business insurance
The different types of business insurance that your LLC needs depend on the industry you are in. The three most common types of business insurance are liability insurance, property insurance, and errors and omissions insurance. Liability insurance covers your company for lawsuits or claims that you may be responsible for. Property insurance covers your company for damage to your property, including the building, your inventory, and your equipment. Errors and omissions insurance covers your company for any mistakes that may be made during the course of your business.
