Need for liability insurance

Hi guys! I am new to this place.....I own a small business and one of my co-mate suggested me to have a liability insurance....So I want to ask you is it necessary to have this.What does it cover? Does it cover employees also?
Your response is appreciated
Thanks

Hi guys! I am new to this place.....I own a small business and one of my co-mate suggested me to have a liability insurance....So I want to ask you is it necessary to have this.What does it cover? Does it cover employees also?
Your response is appreciated
Thanks

you will need it if you caryy work out on any third party premises or anything belonging to a third party if you are carrying out work on a commercial basis