Business insurance tips

Every business can benefit from having commercial insurance, and some policies are required by law.

Some commercial insurance policies benefit every business. Others provide protections against risks that only affect certain businesses.

General liability and professional liability insurance both protect against common small business liabilities, but cover two different types of lawsuits. You may need to purchase one or both policies depending on your risks.

General liability insurance and errors and omissions insurance both protect businesses against common liabilities, but they cover different types of lawsuits. 

No single policy protects against all business risks. Different types of business insurance protect against customer injuries, property damage, cyberattacks, and other threats to your business.

Take a few simple steps to evaluate your risks and compare policies online before purchasing small business insurance.

A certificate of liability insurance is an insurance policy's proof of purchase. In order to get one, you must buy a small business liability insurance policy. After the policy is issued, most certificates of insurance are available online.

These four methods can help you protect your small business and save money at the same time.