When you run a small business in the Prairie State, you’ll no doubt be looking to get the best business insurance Illinois has for your money. Making sure that your investment is financially covered for its risk exposure is one of the key tasks of a business owner. However, keeping a lid on the insurance premiums may sometimes be a problem.
An answer to this may be to take out a Business Owners Policy (BOP). This a form of combination insurance coverages, designed for small to mid-sized businesses. It includes property and liability, which can be tailored to include other forms of coverage specific to your business activities. However, other types of important insurance such as commercial auto and workers compensation would need to be purchased separately. BOPs typically include business interruption insurance, which may allow you to recover some of the costs incurred if the firm be forced to close temporarily. This coverage may also provide some income protection for the business during a closure.
As a combination insurance package, the Business Owners Policy may be cheaper as a package-deal rather than purchasing each individual insurance type separately. Administratively, the fact that various types of insurance coverage are under one policy may assist the business owner to keep his or her business insurance in Illinois as one package, unless of course, other types of coverage are required. Should you want more information on how a business owners policy can help your business, contact us to arrange a consultation!
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