Business insurance needs vary considerably by industry, but several coverage categories are broadly relevant across most business types and worth understanding even before consulting a specialised broker. General liability coverage protects against claims of injury or property damage occurring on business premises or as a result of business operations, forming a baseline protection most businesses need regardless of industry. Professional liability coverage, sometimes called errors and omissions insurance, protects service-based businesses against claims that professional advice or services caused a client financial harm, which is particularly relevant for consulting, legal, or advisory businesses. Property insurance covers physical business assets — equipment, inventory, the premises itself if owned — against damage from events like fire or theft, and coverage limits should be reviewed periodically as business assets grow. For businesses with employees, workers compensation coverage is often legally required and protects both the business and employees in the event of a workplace injury. Cyber liability insurance has become increasingly relevant even for small businesses, covering costs associated with data breaches, which are no longer a risk exclusive to large corporations given how much sensitive data even small businesses now handle digitally.