If you run your own business, you must protect it by ensuring you have the right commercial insurance for the type of business you run. The three most important types of insurance are general liability, property insurance and workers compensation. General liability insurance covers injuries or damages that people experience while on your property or jobsite, and property insurance pays for any damage to your building or equipment due to fire, vandalism, theft or several other situations. Since general liability does not cover your employees, you will also need a workers compensation package should someone become injured on the job.

Depending on the type of business you run, you may need to purchase additional policies, such as commercial auto insurance or cyber liability insurance. If your make deliveries or otherwise have company vehicles on the road, commercial auto insurance will protect you and your employees should someone be involved in an accident. Cyber liability insurance is relatively new and is necessary to protect yourself in the event of hacking or some other situation that leads to an expensive data leak. Many insurance companies will help you create a combined policy, which will allow you to pay a more affordable rate. A professional insurance agent will be able to help you determine exactly which types of commercial insurance you need.