What types of insurance do I need for my small business?

If you are starting a small business in Massachusetts, it is important to know what types of insurance you need in order to keep your business protected. Depending on the type of business you are running and the industry you are in, there are several types of insurance you should consider. One of the most important types of insurance is general liability insurance. This covers you in case someone is injured while on your property or if you are sued for a third-party injury or damage. It is important to know that general liability insurance does not cover employee injuries, so you may need to supplement it with worker’s compensation insurance. In addition you should also look into property insurance which covers damage or destruction to your physical property, such as buildings and equipment. Of course, you may also need insurance to cover specific items and products, such as a specialty or product liability insurance. Finally, you should look into health insurance for yourself and your employees if you are planning to hire. Massachusetts requires employers to provide health insurance for any employees that work more than 8 hours per week. Taking the time to understand what types of insurance you need for your small business in Massachusetts is crucial for protecting yourself and your business. Make sure to consult a qualified lawyer or insurance agent to determine the best type of coverage for your needs.

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