6.2.9 Business insurance
- 6.2.1 Life insurance
- 6.2.2 When to review your life insurance
- 6.2.3 How much life insurance you need
- 6.2.4 Health insurance
- 6.2.5 Property insurance
- 6.2.6 Compensation
- 6.2.7 Insurable and uninsurable perils
- 6.2.8 Vehicle insurance
- 6.2.9 Business insurance
- 6.2.10 Credit or debt insurance
- 6.2.11 Identify your insurance needs
- 6.2.12 Summary of key messages
If you have a home-based business or work from your home, you should consider getting business insurance. Business insurance can protect you against loss or damage to physical property or the loss of your business's ability to operate and generate income. Home or tenant insurance will generally not pay for claims related to a home-based business.
Type of business insurance |
How it works |
|---|---|
Commercial property insurance |
pays for damage to or loss of your business premises. It also protects against damage, theft or loss of the business property or inventory. |
Public liability insurance |
protects your business against third-party liability claims (for example, if a courier slips and falls at your place of business and is injured). |
Errors and omissions insurance |
protects your business against claims made against it because of a mistake you may have made. |
Buy-sell agreement |
allows one business partner to use a life insurance death benefit to buy out a partner’s interests simply and quickly after the partner’s death. |
Key person life insurance |
provides money to the business if an important employee dies. |
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