There are many types of business insurance. Most businesses will need general liability insurance, especially if they meet with clients face to face. If you offer professional advice, you should also have professional liability insurance. If you have business equipment, like computers or tools, you may consider a business owners’ policy (BOP) which combines general liability with coverage for your business property.

General Liability Insurance
Covers bodily injury, property damage, and personal/advertising injury (e.g., slander or copyright infringement). Protects against third-party claims arising from accidents at your business location or due to your business operations. Example: A customer slips and falls in your store, and they sue you for medical expenses.

Professional Liability Insurance (Errors & Omissions - E&O)
Covers claims related to Negligence, errors, Omissions, or mistakes in professional services.Protects professionals like consultants, doctors, lawyers, and contractors against financial loss claims due to work mistakes. Example: A client sues a marketing consultant for providing incorrect advice that led to a financial loss.