Starting a company? 10 types of insurance your business needs

Feb 07, 2024 Abhishek Yadav

Business Liability Insurance

[{"selector":"#anim-65eafb21-21fd-4761-896d-a54440427eff [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(-12.499999772451451%, 0, 0) translate(-25%, 0%) scale(1.5)","translate3d(0%, 0, 0) translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"fill":"forwards"}]

Property Insurance

[{"selector":"#anim-cc6e91c4-0d06-4881-a137-67d2e707c400 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(0%, 0%) scale(1.5)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}]

Business interruption Insurance

[{"selector":"#anim-c1817fd1-d013-49cd-b1d0-48c4310f24e1 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(-12.499999772451451%, 0, 0) translate(-25%, 0%) scale(1.5)","translate3d(0%, 0, 0) translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"fill":"forwards"}]

Cyber Liability Insurance

[{"selector":"#anim-da38d369-0890-47a3-9ef8-ee2ba2642892 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(0%, 0%) scale(1.5)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}]

Public Liability Insurance

[{"selector":"#anim-c3528388-4bd5-47b2-827f-e09348ecf89e [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(-12.499999772451451%, 0, 0) translate(-25%, 0%) scale(1.5)","translate3d(0%, 0, 0) translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"fill":"forwards"}]

Product Liability Insurance

[{"selector":"#anim-69545198-19d3-4f2e-bf9c-73ca53a6f541 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(0%, 0%) scale(1.5)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}]

Professional Liability Insurance

[{"selector":"#anim-ea6453a8-4b66-4bea-89c5-0984ca756f35 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(-12.499999772451451%, 0, 0) translate(-25%, 0%) scale(1.5)","translate3d(0%, 0, 0) translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"fill":"forwards"}]

Crime and Fidelity Insurance

[{"selector":"#anim-b058be50-226c-4a8f-83fe-aba0d931fa28 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(0%, 0%) scale(1.5)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}]

Health Insurance

[{"selector":"#anim-5474f0d6-1045-4dd0-b5c4-f77aef4ea416 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(-12.499999772451451%, 0, 0) translate(-25%, 0%) scale(1.5)","translate3d(0%, 0, 0) translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"fill":"forwards"}]

Workers' Compensation Insurance

[{"selector":"#anim-b65da099-bde2-44ac-aff7-9595202fc810 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(-12.499999772451451%, 0, 0) translate(-25%, 0%) scale(1.5)","translate3d(0%, 0, 0) translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"fill":"forwards"}] Image source : Pexels Image source : Pexels

Starting a company? 10 types of insurance your business needs

Starting a company? 10 types of insurance your business needs

Business Liability Insurance

This insurance covers businesses against claims resulting from third-party injuries or property damages. For instance, if a person gets struck in the wire in your office and gets injured, this insurance would cover the included costs.

This insurance covers businesses against claims resulting from third-party injuries or property damages. For instance, if a person gets struck in the wire in your office and gets injured, this insurance would cover the included costs.

Property Insurance

Property Insurance

Property Insurance covers cases of any loss damage, or theft to your commercial property, and its contents, whether it is personal property or a rented business place.

Property Insurance covers cases of any loss damage, or theft to your commercial property, and its contents, whether it is personal property or a rented business place.

Business interruption Insurance

Business interruption Insurance

Business insurance covers only profits lost due to a business interruption caused by certain events.

Business insurance covers only profits lost due to a business interruption caused by certain events.

Cyber Liability Insurance

Cyber Liability Insurance

This is a type of small business insurance that protects against tech-related risks, such as data breaches, malware attacks, cyber extortion, and hardware failure.

This is a type of small business insurance that protects against tech-related risks, such as data breaches, malware attacks, cyber extortion, and hardware failure.

Public Liability Insurance

Public Liability Insurance

This insurance will cover if your employees unintentionally break a customer's brand-new phone or a client slips and suffers a sprain or break while walking through your building. A genuine problem that could arise is that your business will be held legally responsible for the cost of the damages.

This insurance will cover if your employees unintentionally break a customer's brand-new phone or a client slips and suffers a sprain or break while walking through your building. A genuine problem that could arise is that your business will be held legally responsible for the cost of the damages.

Product Liability Insurance

Product Liability Insurance

Product Liability insurance covers the inherent risk of using almost any product; even something as simple as a shirt can become a suffocation hazard.

Product Liability insurance covers the inherent risk of using almost any product; even something as simple as a shirt can become a suffocation hazard.

Professional Liability Insurance

Professional Liability Insurance

Professional insurance covers if your business sells any services. For instance, this can apply to consultants, engineers, accountants, attorneys, architects, counsellors and real estate agents.

Professional insurance covers if your business sells any services. For instance, this can apply to consultants, engineers, accountants, attorneys, architects, counsellors and real estate agents.

Crime and Fidelity Insurance

Crime and Fidelity Insurance

This insurance covers losses resulting from employee theft, computer fraud, credit card forgery, and destruction of property.

This insurance covers losses resulting from employee theft, computer fraud, credit card forgery, and destruction of property.

Health Insurance

Health Insurance

If you have employees working for your small business, then you can greatly increase their job satisfaction and enjoy the benefits of having a healthier staff by providing them with health insurance.

If you have employees working for your small business, then you can greatly increase their job satisfaction and enjoy the benefits of having a healthier staff by providing them with health insurance.

Workers' Compensation Insurance

Workers' Compensation Insurance

If any employee sustains a work-related injury, illness or health-related problem, then workers' compensation insurance will cover the cost of their resulting medical care and lost wages.

If any employee sustains a work-related injury, illness or health-related problem, then workers' compensation insurance will cover the cost of their resulting medical care and lost wages.