Every company may get something from some commercial insurance. Some safeguard against hazards that are unique to certain industries. Identify the types of insurance your company needs.

All small enterprises should have general liability insurance.

Businesses with less than 500 full-time employees are often considered "small businesses." In contrast to a startup, it caters to an established market need by providing an established product or service.

General liability insurance is a must for all small businesses. 

This insurance covers accidents involving customers or clients, such as injuries or damage to their property. In a customer accident, legal and medical costs may quickly add up, making this insurance a must.

The additional coverage you need for your firm depends on its unique risks.

The insurance you should get depend on the risks your small company encounters.

For instance, firms with expensive equipment or other physical assets should consider purchasing commercial property insurance to protect them against the risk of financial loss in the case of theft, fire, flood, or other covered peril. If you run a small firm in a low-risk sector, you can save money on insurance premiums by bundling this coverage with general liability (BOP).

These insurance protect you against the most fundamental risks. Yet, your business's sector, geographic location, and activities may need that you get more insurance.

If you have employees, for instance, you may be required by law in your state to get workers' compensation insurance. Similarly, commercial car insurance is a need for any company vehicle.