Many insurance packages will put casualty and property insurance together and these packages often offer the best deal. Nonetheless, it is good to know what casualty insurance includes.

Casualty insurance insures against loss or damage to the business itself due to business interruption or other indirect losses. For instance, if you have an office complex on the top floor of a high rise and there is damage to the first floor that will interrupt your business operations, casualty, not property, insurance will pay for your losses.

There are many different types of business insurance that you should be aware of. Let’s look at the following five types:

• Property Insurance
• Casualty Insurance
• Liability Insurance
• Commercial Auto Insurance
• Worker’s Compensation Insurance

So, make sure you understand exactly which insurances you require and don’t buy anything you don’t need!

You will need to insure your employees against on-the-job injuries with worker’s compensation. Every state has different rules concerning worker’s compensation but most states have some form of coverage.

Worker’s compensation keeps an employee from suing your company for on-the-job injuries. For this protection, you must provide for their medical bills and coverage. By law, you will be required to participate in workers’ compensation unless you are a self-employed sole trader.

The initial insurance premiums will be based on the typical claims that are likely to occur