Property And Liability Insurance

Most businesses have property and liability insurance for good reason: they can literally save your business if any unseen calamity befalls it.

Why You Need It
A major fire at your worksite or even a minor fall by a visitor can have a devastating impact on your business. So how can you help protect your small business from big financial losses? You can start with two critical kinds of commercial insurance that are often packaged together in a Business Owner’s Policy (BOP): property insurance and liability insurance.

What Property Insurance Is
Property insurance covers your physical assets: your building, equipment, furnishings, fixtures, inventory, computers, valuable papers, records and more. But property insurance can also provide income if your business is forced to suspend operations after a covered loss.

What Liability Insurance Is
Business liability insurance is specifically designed to protect your business assets if it is alleged that the actions of your company resulted in bodily injury or property damage to someone else.

How Liability and Property Insurance Work
Many insurance providers bundle the primary property and liability insurance coverages you need into an economically priced business owner’s policy. You can then tailor your insurance package by extending the coverage limits in specific areas or adding options to cover risks that are inherent to your industry.

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