Your 5 Most Common Business Insurance Questions Answered

When it comes to business insurance, many entrepreneurs and business owners run into a host of questions. After all, like personal forms of insurance, business insurance can be very confusing, especially since there are so many different types of coverage available and you may not know exactly what you need.


Check out the five most common business insurance questions below to get some helpful answers.

1. Why Should I Get Business Insurance?

Business insurance is a necessity that will protect your company and its assets from a disaster or lawsuit. If you think that your company is too small to be sued, think again. And if you do get sued, or if a natural disaster strikes that causes you to lose time or resources, you will not have the protection that you need to keep operating if you don’t have the right insurance. Plus, business insurance will ensure that you are never personally liable for any debts your company is unable to pay.

2. What Are The Types Of Business Insurance?

There are several different types of business insurance, but you don’t need to purchase all of them if you don’t need them. After all, why would you purchase car insurance if you don’t have a company car?

The main types of business insurance include:

  • Property and Casualty Insurance
  • Commercial Auto Insurance
  • Liability Insurance
  • Product Liability Insurance
  • Business Interruption Insurance
  • Health Insurance
  • Life and Disability Insurance
  • Workers’ Compensation Insurance

3. What Will Determine The Cost Of The Coverage?

There will be a few different factors that will determine how much your business insurance will cost. These factors include the type of business you run, the size of your company, and a history of any claims or issues that you have dealt with in the past. Even the number of insurance providers available in your area competing against one another can bring costs up or down.

4. Can I Bundle Various Policies?

If you opt for a Business Owner’s Policy (BOP), you can typically include your property and casualty, liability, and interruption insurance into one simple policy. This is most appropriate for small to medium sized companies. Another option could be the home office policy. This combines your homeowner’s insurance with your business insurance. You may find that getting these bundles is more affordable than getting each of your policies separately.

5. How Do You Buy Business Insurance?

Once you have really analyzed your business and determined what types of coverage you need, you can then work with an insurance broker to find the plans that are right for you. But if you want to have even more control over what insurance policies you have access to, and if you want to compare different plans and their rates on your own to be sure you are getting the best deal, check out