4. Property insurance

Every business that operates out of standard commercial buildings should go for commercial property insurance.  Equipments, documents, buildings, money and lost income come under company properties. You need a property insurance policy if you want to protect your building or have business personal property that includes office equipment, computers, inventory or tools from fire, vandalism, theft and smoke damages.  There is also a probability that you might want to consider business interruption/loss of earning insurance as part of the policy to protect your earnings if you are unable to operate your business.

5. General liability insurance

No business, even if it’s a home-based business, should operate without general liability insurance. The policy provides both defense and damages if you, your employees or your products or services caused or alleged to have caused Bodily Injury or Property Damage to a third party. This insurance policy covers the business against claim or lawsuit that arises due to accidents, injuries, or negligence. The policy coverage may also include personal injury, property damage, bodily injury, slander, or false advertisement. Moreover, the insurer may also cover expenses for legal representation.

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