Business Insurance FAQs What is business insurance? Business insurance refers to a range of policies that protect businesses against financial losses caused by unexpected events such as theft, damage, or lawsuits. Do I need business insurance? If you run a business, it's important to have adequate insurance coverage to protect your assets and minimize the risk of financial loss. It's a good idea to speak to an insurance professional to determine your specific needs. What types of business insurance are available? There are many types of business insurance, including property insurance, liability insurance, workers' compensation insurance, and commercial auto insurance, among others. How much does business insurance cost? The cost of business insurance varies depending on the type of coverage needed, the size of the business, and the level of risk involved. It's best to get a quote from an insurance provider to determine the cost. What are the benefits of having business insurance? Business insurance provides financial protection against unexpected events, legal protection against lawsuits, and peace of mind knowing that your assets are covered in the event of an incident. About the Author True Tamplin, BSc, CEPF® Facebook Linkedin Instagram Twitter Youtube True Tamplin is a published author, public speaker, CEO of UpDigital, and founder of Finance Strategists. True is a Certified Educator in Personal Finance (CEPF®), author of The Handy Financial Ratios Guide, a member of the Society for Advancing Business Editing and Writing, contributes to his financial education site, Finance Strategists, and has spoken to various financial communities such as the CFA Institute, as well as university students like his Alma mater, Biola University, where he received a bachelor of science in business and data analytics. To learn more about True, visit his personal website or view his author profiles on Amazon, Nasdaq and Forbes.