Business Owners Insurance

There are essentially three types of insurance coverage that business owners can purchase to protect their assets. The first is mandatory and covers worker's compensation. The remaining two types of business insurance are not required by law, but are a good idea for most businesses because they protect two aspects of small and medium sized businesses that are vulnerable to loss of value.

Property and Liability Insurances, the two other types of business insurance, can be on the costly side. The most efficient and affordable way to purchase these two types of insurance is through a Business Owner's Policy (or BOP.) These insurance plans cover both liability and property and come in a package so you can pay less.

The property aspect of your BOP will cover your business' office building, and also the property that is brought onto your work property (either by the business or employees.) Business property insurance is much like homeowners insurance-it will cover accidents such as fire and theft.

Liability coverage ensures that your company will have the money it needs to withstand a lawsuit or medical expenses for on-the-job accidents. In addition to legal liability, BOP insurance also compensates for your company's lost income in case of a business disruption and replacement costs if you lose property to theft or vandalism.

It's best to make sure that your company has all the coverage it needs without having a disproportionally high amount of coverage for your business' size. Our firm specializes in providing business owner's insurance to companies who are interested in protecting their assets. Call us at 800-826-4006 to discuss your business' needs today!