1. Workers Compensation

Now that you have opened your business, it is mandatory to have workers compensation for your workers.  Workers' compensation insurance helps businesses avoid the real cost of an employee's medical expenses and lost wages following a workplace injury or illness. Without workers' compensation coverage, the medical expenses associated with even one major workers' compensation claim could cause irreparable financial harm to your business.

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2. General Liability Insurance

Now that you have opened your business, it is mandatory to have a general liability insurance policy for your business. General Liability Insurance is an essential coverage for all business owners. You may want to consider getting coverage if you have a store, office or building that's open to the public, clients or vendors or handle or work near client property.

 

3. Professional Liability Insurance

If you own a sober living facility, nursing home or group homes, you need a professional liability insurance policy to help with common claims like negligence, misrepresentation and inaccurate advice. It will also help cover violations of good faith and fair dealing. If a client sues you, this policy may help pay your legal expenses.