The first time many businesses purchase insurance is due to a contract requirement. We find contract requirements to usually include a section about insurance as it relates to the specific work the business is conducting. The agreements will likely include general liability insurance but it could also include some of the following lines of business : Commercial Auto (Hired and Non Owned included), Commercial Umbrella/Excess, Workers Compensation, and Professional Liability (just to name a few examples). Further, each coverage listed will usually have a limit of insurance noted; $1,000,000 or $2,000,000 and sometimes upwards of $5,000,000 and $10,000,000. Apart from coverages and their associated limits of insurance, there are other requirements that could include: Additional Insured, waivers of subrogation, primary and noncontributory wording, amongst many others.