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Property insurance covers buildings and their contents against losses due to such things as fire, theft, wind, earthquake, flood, etc. Some of those risks may be specifically excluded in your policy and may require the purchase of additional policies (earthquake, flood, ground water, etc.).

General Liability: Regular liability insurance pays for claims brought against your business because a customer or other person (the owner and employees are not covered) was injured on the business premises. It is a good idea to have this kind of liability insurance in force when you open your business. It’s not uncommon for a customer to fall and file a lawsuit that will be difficult for you to pay. Regular liability insurance also generally includes coverage for damage to property that you do not own or rent for your business (such as a water leak from your property that damages property in an adjoining business).

Property Damage Liability: This policy covers damage to property that you lease or rent and property that belongs to your customers.

Fire Insurance: Protects your premises, fixed assets and inventory against fire.
Fire liability covers fire damage to property you are leasing or renting.