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Small business owners face numerous challenges in the course of operations. Some of those challenges arise from property or liability issues and losses, like damage to merchandise or a liability claim generated by a customer. These claims can be very costly and emotionally difficult, and they can last for several months. Going through the process of a claim can be greatly helped when a business owners policy is in place, since it can often help the business to continue as usual while a claim is happening. To protect you and the business you've worked so hard to build, consider the benefits of a business owners policy.
These policies are specifically geared for small and medium businesses, and most carriers will prefer to insure a business that has only one location and limited risks. Generally, policies are made for companies with less than 25,000 square feet and gross sales of less than $3 million. More often than not, these policies include protection for medical payment coverage for injuries sustained by someone on your property, bodily injury and property damage liability, advertising and personal coverage (protecting you in the event of libel, slander, or copyright infringement), property insurance for the building itself, and equipment breakdown insurance (for errors or shutdowns related to power surges, breakdowns, and other mechanical issues). Some examples of businesses that usually need a business owners policy are hotels, coffee shops and delis, retail stores, offices, and dry cleaners, although there are many examples.
Business owners policies refer to a bundle or umbrella of policies that has both liability and property insurance. These policies often have many different components inside of them, which makes it easier for companies to purchase these benefits all at once. There are also optional add-ons that can significantly help the business owner. Some examples of optional riders include business income, electronic data, collapse, or debris removal. It is often less expensive (not to mention easier) to obtain this coverage through riders rather than purchasing multiple different policies.
In order to find the ideal business owner policy for your business, you want to work with a team of experienced experts in the insurance fields. You've worked hard and put in many hours to build your business to its current level of success. Don't let that all slip away in a moment as a result of a liability or other claim. Protect yourself and your assets with a comprehensive business owner policy. With our experiencing in finding the ideal coverage and policy design for numerous customers, we'll be happy to assist you with protecting your business. Your coverage options are just a phone call away with us, so let's get started today!