Business Insurance FAQs

You may have several questions that need answering before purchasing your policy, or even after purchasing it, and we provide some of those answers below.

I have property that I do not want to insure. Can I avoid it?

You may not be able to. Your state laws may require that you insure certain types of property at a certain limit. Contact your insurance company to help you find out more about exclusions or endorsements, policies that may help you control costs and manage your insurance budget.

Is this much liability insurance really necessary?

While property has a set value, the cost of bodily injuries cannot be accounted for before an incident. Higher limits are always advisable and normally do not cost much, and, in addition, it may increase your policy's value.

Do I need business income insurance?

Property insurance and liability insurance may pay for damages and bodily injury, but these types of coverage are no way to get back your lost income from having to cease any business operations. Business income insurance pays the net income and continuing expenses for a set period of time to help keep your business in operation during its recovery process.

Are there any available comprehensive policies that offer a good amount of coverage for a low premium?

Several businesses are qualified to apply for a business owner's policy (BOP), which is a combination of many aspects of commercial, business income and general liability policies. It does not cover everything, but for those who are eligible, it covers much and comes with relatively low premiums.