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You’ve sacrificed your time, energy and money to get your small business up and off the ground, and now you’ve finally begun to see the reward. Your employees work hard, your customers are happy and you leave the office every day feeling accomplished. You may not be seeing a lot of profit turnover yet, but you know it’s going to happen; you have an excellent team. But there’s one thing you may be overlooking, and that’s commercial business insurance.

Commercial business insurance protects your business and your investments, keeping you and your company in the clear. Still don’t see the point of it? Here are 10 frequently asked questions (and answers) about BOP insurance; it’ll help you find what you’re looking for.

Q: Why should I get commercial business insurance?
A: Commercial business insurance will protect your small business in the event of theft, vandalism, theft, liability and property/equipment damage. It will also cover the expenses incurred by business interruption including injured personnel.

Q: Is business insurance mandatory?
A: Certain business insurance types, including workers’ compensation, unemployment insurance tax and disability insurance are required by law in some states. Check with your local business bureau and state government to learn about the business insurance requirements in your state.

Q: What types of business insurance policies are there?
A: There are several types of business insurance policies. These policies include: property insurance, general liability insurance, professional liability insurance, product liability insurance, workman’s comp. insurance, commercial auto insurance, and business owners insurance (BOP).

Q: Can I bundle business insurance policies?
A: Yes, you can bundle your insurance policies.

Q: Will I get a discount if I bundle my business insurance?
A: Yes. The same as when you get a discount bundling your homeowners and auto insurance policies, so too do you get a discount when you bundle your business insurance policies. Many small business owners opt with going for BOP insurance.

Q: What does a Business Owners Insurance include?
A: BOP insurance includes liability, property and business interruption policies. It does not offer auto insurance, workers’ comp., professional liability, disability or health insurance.

Q: Where can I find BOP insurance?
A: You can find BOP insurance and other policies with CoverHound at discount prices.

Q: Can I bundle BOP insurance with other types of insurance policies?
A: Yes, you can bundle your BOP insurance with other policies.

Q: Is commercial business insurance expensive?
A: No. Commercial business insurance costs less annually than auto insurance if you’re a small business. If you run a larger outfit however, such as a corporation, commercial business insurance can be quite costly.

Q: If BOP acts similar to an umbrella, do I still need to take out other business insurance policies?
A: Yes. It is always better to be overprotected than under. Remember, BOP does not include auto insurance, workers’ comp., professional liability, disability or health insurance. Workers’ Comp. and disability insurance are required by state law. If you do not meet your state’s requirements you could be faced with a fine. Worse still, if an accident happens on the job and you don’t have the insurance to cover for it, you will be paying for the damages yourself. So the real question is, can you afford not to get additional business insurance policies?

Commercial business insurance serves your small business in more ways than one. To learn more, visit CoverHound today.

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