What is Business Insurance?
Business or commercial insurance provides businesses with a protection plan for their assets, property, and income. The most common policy is a Business Owner Policy (BOP) and is popular among small businesses. Under these BOPs, there are usually three types of coverage: business property coverage, general liability coverage, and business interruption coverage. Coverage doesn’t stop here as there are many options available to business owners to help keep their company protected.
Usually, a BOP will help protect a business against things such as financial losses or covered perils (theft, fire, wind, falling objects, and lightning). However, since there are different options when choosing a policy, it is always a good idea to review the documents to get a grasp on what incidents are covered and for how much.