Nobody needs to tell you: Operating any type of business involves risk. There’s just no way to completely eliminate it. Fortunately, there is small business insurance that can protect you from the financial impact of those risks. Two of the many types of coverage available are professional liability insurance (also called errors and omissions or E&O insurance) and general liability insurance. But when it comes to general vs professional liability insurance, it can be difficult to know which type of coverage you need.

Every business faces risk—things like employee injuries, visitor slip-and-fall accidents, professional “errors and omissions,” and work-related auto accidents. The liability and financial loss from these types of incidents and many others can devastate a small company that isn’t properly insured.

Workers’ compensation insurance is a type of insurance that is generally required by state law for any company that has employees, and in some states, for those who use independent contractors. It provides financial protection for workers who are injured or become ill on the job. It also protects businesses from the high cost of workplace injuries.

A business owners policy (or BOP) and a general liability policy have many things in common. For example, they both provide protection from financial liability for many types of incidents. This includes accidental damage to customer property and injury to non-employees on the policyholder’s property.

Small businesses that have purchased insurance policies such as workers’ compensation, general liability, and professional liability (also called errors & omissions or E&O) from biBERK will sometimes ask, “Do I need a commercial umbrella insurance policy?”

Small business owners who provide professional advice or services often ask, “Do I need errors and omissions insurance?” The answer in virtually all cases is, “Yes, you do.” Errors and omissions insurance (sometimes written as E&O or E and O insurance) is professional liability insurance that protects businesses from claims by clients that the company’s employees made a mistake or neglected certain required actions.

If you use cars, pickup trucks, or other vehicles in the course of doing business, you need commercial car insurance. Having proper coverage can keep you from having to pay for bodily injury liability, property damage liability, medical expenses, damage to your own vehicle, and other expenses out of pocket.

If you own a small business, you know you face business risks and may wonder, “What are some common general liability insurance claims?” That’s an important question, as the answer can help you understand whether you need general liability insurance (most businesses do) and if so, how much.

You may have heard the term insurtech. If you have, you might have wondered, “What is insurtech?” Insurtech is short for “insurance technology,” in the same way that fintech is short for “financial technology.”