Workers Compensation

• One type of insurance that is required by law for a business that has employees is workers compensation. This insurance provides coverage for an employee who is injured on the job and suffers lost wages and/or permanent disability. This insurance also restricts the right of an employee to sue the employer for injuries that occur.
  
  

Disability

• Disability insurance provides coverage for the replacement of partial wages for employees who suffer a non-workplace injuries or sicknesses. This insurance is required in California, Hawaii, New Jersey, New York, Rhode Island and Puerto Rico.
  
  

Unemployment Insurance Tax

• Unemployment insurance is a type of insurance that is provided by all states. Unemployment insurance is funded through taxes paid by federal and state employer payrolls. There are certain conditions in which this tax needs to be paid. Wages to any employee that exceed $1500 require that unemployment insurance tax be paid. This tax also needs to be paid if an employer had at least one employee work during a 20-week period for any calendar year.
  
  

General Liability

• General liability insurance is purchased by employers who want to protect themselves from various types of risk. This can include paying legal fees in the event a business is sued for injury that is sustained by a customer or negligence by an employee. This type of policy provides coverage for bodily injury, property damage, medical expenses as well as libel and slander. It is the most common type of policy purchased by most types of businesses.
  
  

Commercial Property

• Commercial property insurance provides for loss due to fire, theft, vandalism and any other peril that is not excluded in the policy. This type of policy is a requirement for a business because property can be defined as lost income, buildings on the property, computers as well as interruption to the business.