Businesses need to protect themselves from liability and loss. They are many businesses can protect themselves depending on the industry. Insurance companies bundle several policies that small business typically need into a bundle.
Business owners policy coverages typically include a property component and a liability component. The property insurance buildings, contents and the personal property of others on the premises. This component will sometimes include business interruption insurance. It is vital in the case that covered loss causes your operation to shut down temporarily for repairs. The liability component is usually in line with general liability policies. Although, it can be tailored to fit your business.
Business owners policy coverages come at a discounted rate. To purchase each policy individually would cost much more. Additionally, you can add other policies to your bundle. Other coverages your business might require are workers compensation, employment practices liability, auto insurance and professional liability.
These bundles are a great way to save money on many needed coverages. They include the added advantage of modification for your needs. They are a one size fits all package optional adjustments. You must qualify for a business owner’s policy, so contact an insurance agent today. If you don’t meet the requirements, the agent can help you determine what coverages you need.