Basic coverages for your business
General Liability (GL)- Your business liability coverage protects you from law
suites originating from the operation of your business.
Business Property- Protection from theft, vandalism and fire for all of those
things that keep your business running.
Errors and Emissions (E&O)- E&O coverage is intended to protect you from a
law suite originating from a mistake you have made in a business transaction
that has resulted in some monetary loss for the client.
Bonding- there are many different types of bonds. Generally you'll know if you
need one since they are often required by the state. A bond in general is a way
to put up money on behalf of yourself for the security of another without having
to actually use your own money. By you paying the bond premium the bonding
company is agreeing to back you for a set amount of money. Its like collateral
that only costs you a fraction of the total collateral provided.