So, you’ve set out to plant your flag in the business world. As you take the first steps of starting a business, there are many things to consider before doing so. Along with having a variety of products and hiring employees, you’ll need to make sure everything’s insured.

Operating a business without proper business insurance risks the entire enterprise. Losing all of your hard-earned work due to an accident or unforeseen disaster can be devastating. Rest assured that insurance gives you a safety net. Here are a few things to know.

Getting a business started is a great accomplishment. Let’s make sure it’s protected.

Get Covered

A typical insurance policy for a small business is referred to as a Business Owners Policy (BOP) and includes several forms of basic coverage. To put it simply, a BOP is a combination of property and liability insurance with a few other forms of added coverage needed for the many aspects of a functioning business.

One of the unique features of a BOP is something called business income insurance. This is a policy that compensates a business owner for income lost during extenuating circumstances. More often than not, this can include natural disasters that force a business to close and disrupts regular business operations.

The Specifics

Even though BOPs are relatively comprehensive, there are a few things that can be added to aid specific aspects of your business. For example, unless specifically stated in the original policy, you must add coverage for any outdoor signage your business has.

Also, if your business relies on a fleet of vehicles, you will need a policy that covers them. If you’re an online retailer, you will probably need coverage for income lost during a site outage caused by a computer virus or hacker attack. Depending on the type of business you run, your BOP will have to be modified to reflect any changes.

Finding the Protection You Need

Starting a business can be challenging but extremely satisfying. We at Shepard Walton King understand the importance of keeping all of that hard work covered. We’re rooting for you to succeed and will do whatever we can to help you find coverage should the unexpected happen. If you would like to learn more about what we can do, please contact us online or call 800.446.2471.