When you start building your business empire, insurance is probably not the first thought in your head. Though it may not be the first task on your list of goals, procuring a range of insurance coverage is a huge part of your overall success in the industry. 
Play it safe, and educate yourself on the most useful insurance policies for business owners. Here is a brief description of the importance and purpose of some of the most vital insurance policies for new business owners.
Workers’ Compensation Insurance
As a new business owner, you need to have care and concern for the well-being of your professionals. Workers’ compensation is one way to show that you’ll be there to support your employees, should something injure them on the job.
Another pressing reason you’ll want to acquire workers’ compensation insurance is that most states in the U.S. legally require business owners to carry such a policy. If you get caught by the proper authorities without a workers’ compensation policy, you could get into some hairy legal situations.
Property Insurance
Property insurance is just as it sounds. Your policy will cover damage done to the property your business uses to get the job done. You can utilize property insurance even if you’re a small business owner who works from home.
Your property insurance policy should be catered to fit your specific situation, as there’s no one size fits all policy for any type of insurance. You should also keep in mind that most property insurance policies don’t protect against floods or earthquake damage.
Professional Liability Insurance
If you ever encounter the behavioral fallout of a rogue employee, you’ll be thankful that you chose to invest in a professional liability insurance policy. Your policy will cover any legal fees resulting from unprofessional activities (aka errors and omissions) your employees (or yourself) may display.
Product Liability Insurance
Product liability insurance protects your business from any faulty products. You may run a very clean operation, but that doesn’t mean every product your business produces will be perfect.
Somethings things go wrong, and you’ll need protection from the consequences. You would be surprised at what people will sue over, and you don’t want to become the next McDonald’s hot coffee case.
Business Interruption Insurance
For business owners who have a brick and mortar establishment, business interruption insurance can be supremely valuable. In the case of a catastrophic disaster, your business is bound to suffer losses due to the inability to operate.
Your business interruption policy will reimburse your business for the financial losses caused by the unavoidable situation. Business interruption insurance could very well make or break the success of your organization, especially if your establishment sits in a high-risk area.