Business owners have a lot of responsibilities on their shoulders, and one responsibility they may not be aware of is the risk of loss from business interruption. Without proper coverage, the losses from entrepreneurial risks can be devastating financially and in terms of what you lose out on personally.
Business Owners Insurance
Most businesses will need a business owner’s policy (BOP). A BOP combines business property, business liability and business income insurance in one policy.
Your networks and data are the lifeblood of your business. From your brand reputation to an employee and their financial data, cyber attacks are increasing in their frequency.
As a businessowner, you need insurance coverages for the cars, trucks, vans or other vehicles you use in your business as you do for vehicles used for personal travel.
You’ve worked hard for the success of your business — and a single unfortunate event could put its assets at risk if the cost of a covered claim exceeds the limits.
To run your business, you need guarantees for contracts and other financial obligations. A surety bond is a promise to be liable for debt, default, or failure.
As opposed to “marine insurance,” which covers products when transported over water, inland marine insurance covers products when transported over land.
Today, greater risk exposure is coming from environmental liabilities that are likely not insured under standard liability insurance and property programs.
Most business insurance policies don’t cover losses resulting from floods, and if you’re located in a low-risk flood area, you might be tempted to bypass this important coverage.
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It might be time to switch insurers whenever the service that your existing insurer provides doesn’t meet your needs. For example, if you have a poor claims experience or an unexplained rate increase, it might be time to consider other options
If you cancel a previous policy before a new policy is effective, you could run into some serious financial problems.
Contact us today to help you with multiple options to choose from.
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We extend coverage to individuals and businesses in Illinois and many other States.
