Affordable Business Insurance

What is a Business Owners Policy?

Most business owners do not like to take time to deal with their business insurance. It is understandable, but on the other hand, the lack of proper commercial insurance can ruin a company. To save time, and buy one affordable coverage package, a product called a business owners policy (BOP) can be an idea solution.

A Business Owners Policy May Contain:

• Business Property Insurance
• Business Liability Insurance
• Business Income Loss Coverage

That was not intended to be a complete list, but a basic starting point if you are a small business owner who needs to shop for coverage. These policies are very popular with common small businesses like dentist's offices, auto mechanics, beauty salons, and small shops in a strip shopping center.

Learn more about the types of business insurance you may need.

Does Your Business Need Commercial Car Insurance?

Many people who run small businesses, especially home businesses, use their personal cars for work. They even lend their cars to employees for business related meetings and errands. However, you may be leaving yourself open to a big liablity. Your personal car insurance may not cover your car for business use, or it may have a limit on liability that will not be sufficient.

The Business Insurance Store tells you how to determine if you need commercial car insurance. Sometimes you can also add a rider onto your personal policy that will protect you. However, if your employees also drive their cars for business related work, it may not be simple to require them to increase their personal policies as well.

Grab Quick Personal or Commercial Car Insurance Quotes Online!

How Key Man Life Insurance May Save Your Company!

Nobody wants to contemplate the death of one of your business leaders or experts. However, I'm sure you can think of a couple of people in your company who are essential, and maybe one of them is yourself. A smaller company probably carries even more risk, and many small businesses really revolve, and derive most of their value, from one or two people. However, even larger companies are lead by a small group of people, and their absense would impact performance.

Many companies consider Key Man Insurance to ensure the livelihood of the company. In the event of the death of key personal, the money can be used to pay off debt and keep creditors at bay, find a replacement for the deceased, buy out the deceased's shares in the company (buy-sell agreement), or even help to supplement the income of the deceased's family.

All key man insurance really is - is a life insurance policy - usually a term life insurance policy based on the estimated working years of the key people. You shouldn't just consider upper management for key man life insurance. Key technical people who would be expensive to replace should also be considered.

I worked at one techincal company, and a fairly young (49 years old) technical leader went home one week-end. He died of a heart attack on Saturday night, and did not return on Monday. In addition to the shock and grief we felt, our project team lacked its technical leadership. We needed time to train for his share of duties, and to hire outside expertise.

Get Quick Life and Key Man Insurance Quotes Here