Different Insurance for Different Businesses

Many small businesses are now insured under package policies that cover the major property and liability exposures as well as loss of income. A common package used by many small businesses is called the Business Owners Policy (BOP).

Generally, these package policies provide the small-business owner more complete coverage at a lower price than separate policies for each type of insurance needed. Your agent can help you decide which policy or policies are right for your business. Additional coverage for property, liability, or perils or conditions otherwise excluded (e.g., flood protection) can be purchased as endorsements to a standard policy or as a separate, second policy called a difference-in-conditions (DIC) policy.

Because businesses vary, it is impossible to have a standard policy to cover all contingencies. Also, some businesses, regardless of their size, do not fit the profile of a standard business owners policy. For example, restaurants, wholesalers and garages have special liability needs that are not met in the standard business owners policy. Your insurance agent can advise you of the best policy (or policies) to protect you and your business.

Contact your independent insurance agent for more information on business coverages.