Know about the major small business insurances for you

As you run your business, you are subjected to a lot of liability. Hence, it is important to know the different types of commercial insurance your small business may require. There are several insurance for small business owners that can help your company, employees, accidents, loss reduction and better risk management.

Types of small business insurance:

  • General liability insurance safeguards your business in case it gets sued by a third party for any damage or treatments.
  • Professional liability insurance defends your business from claims made for inefficient advice or negligence.
  • Workers’ compensation insurance secures the employees of your company by making payment for their medical care in case they meet any accident while working
  • Property insurance offers cover for property used by your business at the time of physical damage.
  • Commercial auto insurance covers the vehicles used by employees for work.
  • Business owner’s policy also BOP is a small insurance package which includes property and liability insurance risk along with other coverage.


It is more like a package offering small and medium business owners with multiple policies to protect themselves. It covers your needs by offering two policies: liability and property.

What does BOP cover?

Property damage insurance: Property insurance damages are covered under it in case your business building meets an unexpected event. For instance, if a pipe bursts in your store and the stock gets damaged, then under BOP you are covered.

General liability insurance: It protects your business from claims made by another person by injury or related medical expenses.

Do you need a business owner’s policy?

Well, there is plethora of reasons to go for it. It helps in fulfilling your business needs.

  • If your business has a location, then that building or office is covered under BOP.
  • If your asset gets damaged or stolen, like inventory, furnishings or any of the office equipment, they are covered.

Who is covered by BOP?

Business and employees: Your employee and business is covered for claims related to injury or damage to property to a third party happened because of your business.

Parties to a contract: If you are in a contract for work and you are asked by the party to be enlisted for the insurance policy, then BOP covers you here.

All you need is speak to the professionals at Erskine Murray and discuss the small business insurance you need for your business. They will render the best possible help to you.