As you consider starting a new business or get one up and running, there are dozens of moving parts in play, including insurance. Protecting both your personal assets and business from potential losses is critical, even if you operate a small home business.
Here are several types of insurance that deserve a look:


General Liability

General liability provides broad coverage in an array of situations, including if someone is injured at your business location, damage is caused to a customer’s property or damage results from the use of your product or service.

Professional Liability

Also known as errors and omissions (E&O) insurance, professional liability insurance covers negligence claims related to professional performance, including mistakes and failure to perform. Therapists, doctors and attorneys are just a few professions that are required to carry a professional liability policy.

Business Interruption

If a disaster causes an interruption of business operations, this type of insurance can help out. Coverage can include the revenue you could have earned (based on financial records), as well as bills like electricity that continue despite a temporary standstill.

Commercial Property

This insurance option covers commercial locations, as well as computer equipment, documents, money and more, from loss or damage due to unexpected events, such as vandalism, severe weather and fire.

Workers’ Compensation

Workers’ compensation covers medical treatment, disability and death benefits if an employee is injured or dies as the result of his work. Coverage includes everything from slip-and-fall injuries to medical conditions like carpal tunnel syndrome.

Key Person

This type of insurance protects a business from potential financial losses if crucial personnel die or are unable to work for an extended period. Key persons can be anyone directly associated with the business whose loss would cause financial hardship, like a founder or CEO.