• It can help pay the costs of property damage, lawsuits, lost business income, and other covered losses. To help protect against specific risks unique to their situation, businesses often buy multiple coverages and combine several in one policy. A Business Owner’s Policy, for example, combines property, general liability and business income coverage into one convenient policy.

Essential Business Insurance Coverage Options

• Among the most popular business policies is a Business Owner’s Policy (BOP). A BOP generally includes business property, general liability and business income coverages in one policy. Combining these coverages can help save money on business insurance and it’s convenient.
• Insurance helps protect from the cost of bodily injury or property damage claims against your business. For example, a customer may make a claim against your business if he is injured in your store. General liability can help cover you against the costs of the claim and potential defense costs. It also helps protect your business from the costs of errors in your advertising.

• Business personal property insurance helps protect your business’s buildings and personal property. This might include furniture, tools, equipment and inventory.

• Business income insurance helps replace lost income if you close temporarily due to a covered loss like theft or property damage from a fire. It can also help you continue paying expenses while your property is replaced or repaired.

• A commercial auto policy helps protect your business from the costs of a work-related auto accident. If you or an employee is in an accident while driving for business reasons, commercial auto can help cover the costs that results from the accident.
• Surety bonds – A surety bond is a contract between three parties that helps ensure a project gets completed or a commitment is met and guarantees a payment if they are not. Fidelity bonds are a form of insurance that protects businesses from financial loss due to employee theft or fraud.
• Home-based business insurance helps cover the costs of property and liability risks to businesses that operate out of a business owner’s home. If you keep supplies, equipment or other business property at your home, or have customers stopping by, consider adding this coverage.