When you’re a small business owner, there are a million and one things you have to worry about everyday. Having the right kind of insurance can ease some of those worries while protecting you from mishaps ranging from employee injury to fire. Here are seven types of insurance that every business owner should have.

General Liability Insurance

Regardless of what kind of business you are, you should definitely have General Liability Insurance. It will protect you, your employees, and your business against expenses related to bodily injury or property damage and covers things like legal costs and medical bills.

Worker’s Compensation

All states will require you to have Workers Compensation for all W2 employees. Worker’s Comp provides medical benefits and wage replacement for employees who are injured on the job. Employees covered by Workers Compensation give up their right to sue their employer for the accident resulting in their injury.

Data Breach Insurance

Cyber security has become one of the biggest threats companies face, and a common misconception is that hackers only target big businesses. Any type of business that handles private information, like data about clients or employees, should look into insurance to protect them against a cyber breach. A single data breach can cost a company hundreds of thousands of dollars — so you will definitely get your bang for your buck with this insurance.

Professional Liability Insurance

Also known as Errors and Omissions Insurance, Professional Liability Insurance provides more specific coverage than General Liability Insurance. It protects your business in the case that you provide a client with faulty professional services and is applicable for a range of businesses.

Business Property Insurance

Business Property Insurance protects you from a variety of damages like smoke, fire, vandalism, or theft. It covers your building along with any equipment like computers, tools, or inventory you may have. Certain types of property insurance can also protect against loss of income.

Commercial Auto Insurance

If anyone in your business uses a company car, it’s important to obtain Commercial Auto Insurance. A comprehensive Commercial Auto Insurance plan will protect your business from an unexpected accident, theft or act of vandalism.

Business Owner’s Policy

A Business Owner Policy package is a great idea for small to medium sized businesses. They combine major property and liability insurance into a comprehensive policy that is tailored to your business’ specific needs.

This is a basic rundown of the types of insurance you should look into as a small business owner. You worked hard to create your business; we work hard to protect it. To get an instant quote for small business insurance, you can visit our website