What type of insurance should I have for my business?

When starting a small business in Arizona, it is important to make sure your business is properly insured. The type of insurance you should have for your business depends on the type of business and the services you provide. General liability insurance is one of the most important types of insurance for a business in Arizona. This insurance protects your business from liability claims that may arise due to bodily injury, property damage, libel and slander, or copyright infringement. It also provides coverage for some legal costs associated with defending your business. Another type of insurance you may need is professional liability insurance, which covers losses due to errors and omissions in your services or advice. This insurance is important if you provide professional advice to your customers. If you employ workers, you should also consider workers’ compensation insurance. This insurance provides medical care and other benefits to an employee who is injured on the job. In Arizona, employers are required to carry workers’ compensation insurance if they have more than one employee. Finally, if you own any vehicles used for business purposes, you should also consider commercial auto insurance. This insurance provides liability coverage in the event of an accident. It is important to consult with an insurance agent to determine which types of insurance are best for your business. Your agent will provide guidance on the types of coverage and amounts of coverage that best suit your business.

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