Business Insurance 101 – What Every Entrepreneur Should Know
Running a business involves risk. Whether you’re a small shop owner, freelancer, or CEO of a growing company, one accident, lawsuit, or natural disaster can derail everything you’ve built. That’s where business insurance comes in—it protects your company’s assets, reputation, and future.
1. General Liability Insurance
This covers claims related to bodily injury, property damage, and advertising issues. If a customer slips in your store or sues you for damages, liability insurance helps cover legal fees and settlements.
2. Property Insurance
Whether you rent or own your space, property insurance protects your building, equipment, inventory, and furnishings from fire, theft, or natural disasters.
3. Workers’ Compensation
If you have employees, this insurance covers medical costs and lost wages if they’re injured on the job. In many places, it’s legally required.
4. Professional Liability (Errors & Omissions)
For service-based businesses, this policy protects against negligence or mistakes in your work that lead to client losses.
5. Business Interruption Insurance
If your operations are halted due to events like fire or floods, this insurance replaces lost income during the downtime.
No matter how small your business is, the right insurance coverage keeps your dreams protected. Don’t wait for disaster to strike—insure your hustle.
