Insurance is more than a luxury. In fact, some types of insurance may be required for doing business, depending on your type of business. Failure to provide for these areas can result in serious financial and legal problems –- including fines and jail time -- for you and your business. The more you know about the costs associated with insuring your business and employees, the better you can account for these costs in your business plan.
This section will focus on three types of insurance businesses need:
For more information about the various taxes associated with operating a small business, see Business Taxes.