Business insurance protects your small business from financial damages that can result from accidents, property damage, professional errors, workers compensation claims and other situations. Having accurate coverage is critical in minimizing the negative impact of claims against your business.

General liability insurance (GL), often referred to as business liability insurance, is coverage that can protect you from a variety of claims including bodily injury, property damage, personal injury and others that can arise from your business operations. General liability insurance quotes usually include:

• Bodily injury and property damage liability
• Personal and advertising injury
• Medical payments

• Products completed operations
• Damage to premises rented to you

Professional liability insurance is coverage that protects business professionals such as attorneys, consultants, and accountants from claims of negligence or misconduct related to the services they provide. It's often referred to as errors and omissions (E&O) insurance.

Experts in a specific field typically require professional liability coverage because their services can lead to mistakes that can cause

Yes, there's no difference between errors and omissions insurance (E&O insurance) and professional liability insurance; the two terms are often used interchangeably.

General liability coverage only protects against "third-party" damages for which you're responsible (i.e. bodily injury to others or damage to their property ). Professional liability protects you from claims of neglect or professional errors.

Cyber insurance protects against damages caused by electronic threats to your computer systems or data. These threats can lead to the theft, damage or misuse of sensitive information or other vital technologies and can result in downtime and recovery costs that often include specialized repairs and legal fees.
Options are available to cover incident response services, first-party losses (your own) and third-party losses (those experienced by others for which you're responsible

Cyber insurance covers a variety of small business risks that are divided into two parts:
First-party coverage  Covers damages that you and your business suffer because of a data breach. This can include things like investigative services, business interruption coverage and data recovery.
Third-party coverage  Covers damages if your customers or partners are affected by a cyber-attack on your business. This can include legal fees, settlement costs, security failure and media liabilities.

Cyber insurance won't cover you for claims related to the performance of your product or service. If you're a technology-based business, you'll also want to consider Technology Errors and Omissions (Tech E&O) insurance. This type of professional liability coverage protects you in the event your product or service didn't perform the way it was supposed to.

Cyber insurance includes first-party and third-party coverages. First-party coverage offers protection if there's an attack on the data your business owns. This coverage often applies to costs for investigative and legal resources.
Third-party coverage offers defense and settlement costs if your customers or partners sue for damages that result from a cyber incident you're liable for.

First-party coverages

First-party coverage options might include protection for:

• Data breaches  Coverage if your business's critical information is stolen, like your customers' personal data, tax records and credit card information.
• Computer attacks  Protects if your computer systems are hacked including software manipulation and viruses.
• Cyber extortion  Can cover ransom payments and professional aid during an extortion threat to your computer system, data or website.
• Business interruption  Can help replace lost income if your business operations are interrupted due to incidents such as a breach, extortion threat, or system failure.
• Data recovery  Covers costs and services to restore control of your data following a breach or other cyber incident.
• Identity recovery  Pays for costs and services to restore control of your identity following an identity theft incident.

Third-party coverages

Third-party coverage options might include protection for:

• Data compromise liability  Pays for legal and settlement costs if you're liable for a data breach or cyber-attack.
• Network security and privacy liability ? Covers defense and settlement costs if you fail to secure your systems and your clients or partners suffer damages as a result.
• Media liability  Protects against digital media claims of copyright infringement, defamation, and violation of privacy. This can include content featured on your website or social media accounts.

Workers' compensation insurance, commonly known as workers' comp, is insurance that covers medical expenses and a portion of lost wages for employees who become injured or ill on the job
Often required by law, Workers Compensation covers employee workplace injuries and workplace illnesses, including medical costs and lost wages.
Includes

• On-the-job injuries and illnesses
• Lost wages
• Medical treatment

Business owners' insurance, also known as BOP insurance, is a policy that combines both property and liability coverage into one package.