Protect Your Business With These 2 Essential Insurance Types

  • John A. Osborne
  • Jan 24, 2023
Small Business Insurance Idaho

Running a business involves taking calculated risks, and one of the most significant risks you can take is operating without insurance coverage. Business insurance is essential since it protects your assets, employees, and customers in the event of an unexpected mishap. However, with so many insurance types available, choosing the right one can be overwhelming. In this article, we will highlight two insurance types for businesses that you should consider.

1. General Liability Insurance

General liability insurance is a type of insurance policy that protects your business from various claims, including bodily injury, property damage, and advertising injury. It covers the costs associated with defending your business against lawsuits and pays for any damages awarded to the plaintiff if you are found liable.

Here are some key aspects of general liability insurance that you should know:

  • It covers third-party claims, which means claims made by people outside of your business, such as customers, vendors, or visitors.
  • It can cover the cost of medical expenses, legal fees, and settlements or judgments.
  • It provides coverage for accidents that occur on your business premises, as well as those that happen off-site.
  • It can be customized to suit the specific needs of your business.

2. Workers’ Compensation Insurance

Workers’ compensation insurance is a type of insurance policy that provides benefits to employees who suffer work-related injuries or illnesses. It covers medical expenses, lost wages, and other related costs, regardless of who is at fault for the injury or illness.

Here are some key aspects of workers’ compensation insurance that you should know:

  • It is mandatory in most states if you have employees.
  • It covers injuries or illnesses that occur while an employee is performing job-related duties, whether on or off the job site.
  • It provides benefits to employees regardless of who caused the injury or illness.
  • It helps protect your business from lawsuits brought by injured employees.


Business insurance is crucial to protect your company from the risks associated with operating a business. General liability insurance and workers’ compensation insurance are two essential types of insurance that every business should consider. They provide coverage for a wide range of risks and can help safeguard your business’s assets, employees, and customers. Speak to an experienced insurance agent to learn more about these insurance types and how they can benefit your business.

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