If you employ staff, even if it's only one other person, the minimum legal requirement is to have employers' liability cover. Not only does this protect you and your business from any claims made by an employee, it also protects your workers in case they become injured at work.
Other levels of business insurance are optional, but highly advised to ensure that your daily operations continue to work smoothly. As every business is different, insuring various aspects of your business will involve tailoring a policy to meet specific requirements.
By getting the right insurance cover in place, you can make sure that your business, staff, resources, assets and clients are all protected. In the case of tools and equipment used by your business or any stock that you sell, you may need to think about the value of these, and whether you would require new-for-old cover if anything needs to be replaced.
Ultimately, having a comprehensive business insurance policy is all about ensuring your business is protected from any situation that could result in you facing serious financial losses. Whether it's an unexpected interruption to your operations or potential legal action from employees or customers, appropriate insurance helps to keep your business safe from significant impacts.