Best Small Business Insurance January 2023
Insurance for small businesses provides financial protection against a wide range of risks and gives business owners peace of mind. A business owner’s plan (BOP), is a combination of general liability and commercial property coverage. You may also include business interruption insurance which covers income replacement following a covered loss. Business owners may also require professional liability insurance, commercial automobile insurance, and worker’s comp insurance. These can be added or purchased separately to personalize your BOP.
What is Small Business Insurance?
Small business insurance is essential for all small business owners, regardless of whether you work in retail, construction, or the financial services sector. It can protect your livelihood that you have worked hard to build. Small business insurance can protect you from costly lawsuits and damage.
- Natural disasters
- Errors made by professionals
- Workers’ compensation claims
Types of small business insurance
Small business insurance protects your personal assets and income. You can also protect yourself against liability claims. Find out more What small business insurance looks like .
Additional protection for small businesses
To obtain the Best small business insurance You’ll probably need different insurance products and coverages. Our Business Owner’s Policy (BOP) You’ll receive three types of essential coverage all in one.
Costs of small business insurance
Small businesses have different insurance costs. Because every small business faces unique risks, the cost of insurance for them varies. What is the cost of small business insurance? It depends on the type of coverage you need. The infographic below shows the average cost for business coverage with The Hartford. 1
These are the top small-business insurance policies
A single policy for small businesses does not cover all risks. Different types of insurance cover different kinds of accidents, lawsuits, or damages that could affect a business. These policies cover common risks.