What business insurance do i need?

Most businesses need liability insurance for small businesses. However, there are several different types of liability coverage to choose from. All small businesses need general liability insurance. This liability policy provides protection against common customer or customer incidents, including bodily injury, property damage, and personal injury.

An accident involving a customer can result in huge legal fees and medical expenses, making it an important policy for any business. For example, small businesses with valuable properties should consider commercial property insurance, which covers their physical assets against loss or damage caused by acts of vandalism, natural disasters, and other similar events. If you're a small business owner in a low-risk industry, you may be able to reduce premium costs by combining this policy with general liability insurance in a business owners (BOP) policy. Learn more about general liability insurance.

And 21% of small business owners said they have personal liability insurance (also called error and omission insurance) or that they plan to buy it next year. Complaint data is based on complaints confirmed by each state's state insurance departments and compiled by the National Association of Insurance Commissioners. Cincinnati Insurance sells its coverage through independent local agents who will adapt coverage to a company's needs. General liability insurance pays for legal costs, such as hiring an attorney and any judgment against you and your company.

Because similar professional services share the same risks, it's useful to analyze business insurance coverage recommendations by sector. With more than 300 types of coverage available at CNA, you'll have plenty of options to find the right business insurance. Without small business insurance, you would have to pay the legal costs of lawsuits and find a way to pay for damages to your business property. Select your profession from the list below for details on the types of insurance your small business might need.

And with the increase in computer piracy, cyber liability insurance is important to pay for recovery costs in the event that your company's computer network is attacked by thieves.