Different industries and businesses present various insurance challenges. Same coverage cannot be equally suitable for a restaurant business and an auto dealership. However, good news is that there are business insurance coverages available for all the risks and exposures your business might face.
Some insurance carriers offer insurance packages for businesses, also known as Business Owners Policy (BOP), at a lower price than individual policies combined. BOP’s often include Commercial Auto, Commercial Property, Commercial Liability, business interruption, crime, and flood insurance policies.
What steps will you need to take to make sure your business is properly insured? First, it is important to determine the policies you need as required by law, affordable by your budget, and required by lenders. Most business owners should consider the following policies:
- Commercial Property – to protect the property of your business
- Commercial Liability – bodily injury and damage to property of others protection
- Workers’ Compensation – to protect the business in the event of employee injury
- Professional Liability – to protect the business in case of professional errors
- Commercial Auto – protection for company vehicles
These are just some of the most common insurance policies for businesses. Depending on your individual business needs, you may need to include additional coverages. If you are overwhelmed by the abundance of insurance coverage options and not sure what to choose for your business, our licensed independent agents will find you the best policy and give helpful recommendations on how to properly insure your particular business.