Depending on the type of business you are operating, you may also require specific policies. Also, some types of business insurance are required by law.
If you’re wondering what kind of business insurance you should get, here’s a framework that might be useful.
Every business is essentially an interplay between three major areas – your products and services, your employees, and your customers. It follows, then, that your business insurance portfolio would need to address each of these three areas.
While this framework is highly simplified and by no means covers every possible type of business out there, it does give us a useful starting point when considering how to meet your business insurance needs.