Most businesses need at least some insurance coverage, for without insurance a business is dangerously exposed to a variety of risks. Should a business’ property be destroyed or someone file a liability suit against a business, the financial costs to the business can be high. Insurance is specifically intended to help mitigate covered unforeseen costs.
The list of businesses that ought to have insurance includes businesses of all types and sizes. Corporations, LLCs and sole proprietorships should all assess their risk exposure and insurance needs, regardless of how large they are.