Depending on your industry, business income insurance could be just as important property coverage. Accidents, weather-events, or natural disasters can occur at any time, any where. Your business may have property insurance coverage to cover fire or weather damages, however that may not be enough! If your business had to close while repairs or relocation takes place, how would you pay the bills? Business income coverage can help your business to keep up expenses, payroll, and taxes until you are able to reopen. You can even customize your policy to your business by selecting the term and limits you need!
Business Owners Policy
Need more than just business income coverage? A business owners policy (BOP) combines all the major property and liability coverages into one single policy! A single BOP can have more than 20 separate insurance components, which often makes it a cheaper option than individual policies. Keeping all of your coverage together in one place can also make everything easier for you as a business owner! We can tailor your BOP to your individual business and industry, so you have the protection that you need. Check out our handy cheat sheets that shows industry-specific insurance options you might be interested in!
BOPs are great options for small- and medium-sized businesses! Carriers will usually take into account many things such as the size of the business, any buildings, and the liability limits desired. It is also very important to remember that a BOP does not cover the business owner personally. You will still need to maintain your own, separate personal policies. You may also want to consider taking out a personal umbrella policy to protect your assets in the event that you are ever sued. Ensuring that your business has the proper coverage also means making sure your personal auto, home, and umbrella policies are up to date!