Business owners policies are insurance packages that combine several different policies to offer businesses a number of protections. While a business owners policy isn’t right for every company, many small businesses in Huntington, Massachusetts would benefit from having one.
Many Small Businesses in Huntington, MA Should Consider Getting a Business Owners Policy
A Business Owners Policy Offers Flexible Protection
Business owners policies offer businesses a flexible insurance solution that can be tailored to companies’ specific needs. A business owners policy may include any of the following insurance policies:
Commercial Property Insurance
Business Interruption Insurance
In addition to these common policies, other policies and riders can often be added to adjust the coverages that a company has.
Business Owners Policies Aren’t Right for All Companies
Since business owners policies can be customized to meet a particular business’ specific needs, many companies are wise to purchase a policy. There are some scenarios, however, where one of these policies won’t meet all of a company’s insurance needs. After all, no one insurance policy is perfect for every circumstance. In the following situations, a company might need more or different insurance coverage than what these policies offer. These needs may include:
A high-risk business might need more liability insurance than most business owners policies offer
A business with a large commercial space may want more commercial property insurance than most business owners policies offer
A business that needs more than a year of business interruption coverage might have to purchase a separate policy for this coverage
While these coverages are often available through business owners policies, there is sometimes a limit to how much protection a company can get through a policy. Thus, companies that need more of a certain type of coverage might need to purchase a supplemental or separate insurance policy to properly protect themselves.
Business Owners Policies Are Right for Many Huntington Small Businesses
The scenarios listed above, however, are fairly uncommon. Many small businesses don’t need more liability insurance, commercial property insurance, or business interruption insurance than what typical business owners policies provide. The majority of small businesses in Huntington are not only able to find the insurance coverages they need through business owners policies, but these policies can give them the most affordable prices possible.
If you run a small business, a business owners policy is likely well suited to meet your company's insurance needs. To find out whether a policy will meet your company’s particular needs, contact an independent insurance agent who specializes in commercial insurance and serves Huntington.
Such an agent will be able to review your company’s insurance needs and identify whether business owners policies will meet those needs. Assuming you can find the coverage your company needs through a policy, the agent can also help you determine which policy will give you the most coverage for the best price, and they can help you customize the policy to your company’s particular needs.