You know you need insurance for your small business, but what policy is right for you and your business. You could go with a standalone general liability insurance policy or you could go with a business owners policy in Carmel. Knowing about both policies, what they offer and how they differ, helps you make an informed decision.
General Liability Insurance
General liability insurance is a blanket policy that covers a few common torts a small business might face. You are protected if a third party sues you for bodily injuries suffered on business property, property damage your business caused doing work or personal injuries like slander, libel, copyright infringement, etc.
Business Owners Policy
A business owners policy in Carmel is a beefed-up version of general liability insurance. It takes several insurance policies and bundles them together at a reduced rate.
- General liability insurance
- Property insurance
- Business interruptions insurance
BOPs are not available to everyone. You must meet certain criteria to be eligible. If you qualify, you get three policies for a reduced rate. With both policies, you will have basic liability protection. The determining factor for most businesses is the qualification. If you don’t qualify for BOP, a GL policy should be able to protect you from liability exposures. Talk with a qualified representative to better determine a policy that is right for you.