Insuring Small Businesses


As someone who has just barely scraped the frosting off of the insurance world, I have quickly come to find that a businessowners policy (BOP) is absolutely necessary for small businesses. Although this epiphany might not be relatable to everyone, there are several reasons why using businessowners policies can be an effective tool in managing potential risks. 

For example, a BOP helps protect a companies future. In the event of a major loss or claim, a company with no coverage will likely not ever reopen. How does a business owners policy protect against losses and claims? A BOP combines property and liability insurance into one simple package that is specifically designed for medium to small businesses. BOP’s can even include coverage for additional expenses when a company is forced to shut down for a period of time due to a major loss. 

There are so many exposures a business faces today, and it can be confusing to know what coverages are necessary to transfer the risk involved in owning a business. A businessowners policy greatly depreciates that confusion. BOP’s provide broad coverage for many of the property and liability vulnerabilities faced by small businesses, but often times they do not cover all insurance needs. Auto liability, physical damage, workers compensation insurance, professional liability insurance, and umbrella liability coverage are frequent additional insurance needs under separate policies.

“Small businesses” are extremely vulnerable. They don’t typically have the cash to self-insure and a businessowners policy is one way to guarantee that a 50 year old restaurant can keep its doors open for another 50, even after a major or complete loss. 


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