If you run a business in the US, you are required by law to have some form of business insurance. It generally consists of several types of insurance policies are bundled into one, and each of these elements may be required. Usually policies will include some or all of the features below:
Public business liability insurance will cover you for costs associated with injuries to members of the public as a result of your actions. This can include people visit your place, or incidents that occur when you do the work in the other place. It will also cover related costs, such as legal fees or reclamation NHS hospital care costs.
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Employers liability insurance will be necessary if your business has any employees, including yourself if it is a limited company and you are the managing director. It covers you against claims for compensation made by or on behalf of employees who are injured or made ill in the course of their work;
Professional indemnity insurance means that your business is protected against claims that you have broken any other business or cause them to make financial losses through error or omission;
Tax & VAT Your insurance reimbursement for the cost of investigation inquiry by Revenue & Customs. At first glance it does not appear to offer enormous benefits, but the investigation can seriously affect your business and revenue because you may have to pay a surcharge of your accountant, or even legal costs.
Business liability insurance costs will depend on the type of business in the industry, the size and the way it is organized. As this policy includes a number of different areas, you should get advice from a specialist insurance before buying.