Like homeowners insurance, your business has property and liability that you would like to protect. If you have a store front, rent a space, have inventory, or even run a small business out of your home, you most likely have property that would set you back a great deal if it was lost in a catastrophe. Business insurance helps to protect against common losses such as fire, wind, and theft to help make sure your business can stay afloat when risks to your business come up. The other half of your business you will want to protect is the liabilities that come with owning a business, whether it is unhappy customers, someone getting injured on your property, or covering your assets if your business makes a mistake. There are lots of different ways to cover these two risks in your business, the most common being commercial packages, business owners policies, general/professional liability policies, and workers compensations.
Any combination of two or more of the following coverages, depending on your businesses needs:
Unlike a commercial package where you pick and choose coverages to package together, BOPs are pre-packaged to suit the needs of a small business. This type of policy is best suited towards sole proprietors that would like a bundle to cover their property and liability together. Some businesses this policy type works great for are: