The legal requirements for business insurance vary depending on the jurisdiction and the nature of the business. However, certain types of insurance, such as workers' compensation and commercial auto insurance, are often legally mandated. It's essential to understand the insurance requirements applicable to your specific business and comply with any legal obligations.

The cost of business insurance varies based on factors such as the type of coverage, the size and nature of the business, the industry, location, claims history, and coverage limits. Insurance premiums are typically paid annually or monthly and can range from a few hundred dollars to several thousand dollars or more, depending on the circumstances.

General liability insurance provides coverage for third-party claims of bodily injury, property damage, personal injury, or advertising/marketing-related issues. It typically covers legal defense costs, settlements, or judgments arising from these claims. General liability insurance is designed to protect businesses from financial losses resulting from accidents, injuries, or damage caused by their operations.