There are two types of Instagram accounts: Business and Personal. There are pro's and con's of both so you just need to decide which one is right for you! Here are the differences:
Business Account Pro's
-ANALYTICS. I believe this is one of the most important features on the business account. You are able to access insights such as how many people see your posts, where your followers are from, which posts did the best, how many unique accounts your feed has reached etc.
-SWIPE UP. You are able to access a "swipe up feature" on your business account when you hit 10k. The swipe of feature allows your followers to have quick access to websites on your instagram stories. This tool is very useful for brands to be able to link a website so their followers can swipe up and access the site right away.
-CONTACT. When you have a business account you are able to have an email and call button so your follows can just click and they can email or call you right away.
-PROMOTION. On a business account you are able to pay to promote your posts (this is a double edged sword- see below)
Business Account Con's
Instagram created business accounts with big name companies in mind AKA big money for AD's. If you spend money for an AD on the business account, it can slow your growth rate because Instagram wants you to continue to spend more money to keep promoting. It makes sense! So be careful if you chose to do ad's because it can slow your organic reach.
A personal account does not come with any of the business account features listed above so you just have to decide what is best for you! A personal account is best for someone who is not going to be promoting/selling anything.