After years of dreaming, you’ve finally opened your own business! Having business owner’s insurance means you can protect what you’ve worked hard to earn and bring you peace of mind.
Business owner’s insurance protects your investment by minimizing financial risks. That way, unexpected events like a lawsuit, a natural disaster, the death of a partner, or an injured employee don’t send your business into a tailspin. While it might not be required, it is a useful asset to have.
Cross Insurance Agency knows what owning a small business takes, and we want to help. We know that you need someone to make it easier for you – our licensed agents go through all your options and pick out the best choices based on what your small business needs.
Other agents work directly for insurance providers, which means their options are limited. At Cross, our insurance experts have years of experience finding the best coverage from multiple providers. When we help you with your insurance, you can focus on what you do best – running your stellar small business.
A Business Owner’s Insurance Policy (or BOP) combines property, business interruption, and liability coverage together in one policy for small to medium-sized businesses. By packaging these coverages together, you will generally see a discount in your premium.
No single policy will cover you for absolutely everything, but business owner’s insurance is still a useful safety net when things go wrong. Supplemental coverages are also available to protect what your BOP won’t cover, like a data breach.
Why do I need business owner’s insurance (a BOP)?
A Business Owner’s Policy (or BOP) is an asset when accidents happen. For example, if your property is damaged after the business next door goes up in flames, you are going to have to pay for every piece of machinery and broken fixture, unless you have business insurance.
And there’s another risk, too – according to ZenBusiness, 36-53% of small businesses are sued every year. Someone may file a lawsuit against you at some point, even if it’s over something small.
Business owner’s insurance steps in to prevent you from paying out-of-pocket fees. That way you can stay in the green and avoid closing your doors.
Is business insurance required?
Unless you are an employer, business insurance is generally not required. However, some states require businesses to pay for workers’ compensation insurance, unemployment insurance, and state disability insurance.
Your financial lender or investors may require you to maintain life, business interruption, fire, flood, or other types of insurance to protect their investments.
Whatever your situation, you should purchase enough insurance to cover your assets. If your business is an LLC or a corporation, your personal assets are protected from business liabilities, but neither business structure is a substitute for liability insurance. So, it’s a wise plan to have a BOP to cover you to fulfill insurance requirements and protect you in an emergency.
Why should I choose Cross to help me find business owner’s insurance?
Starting your insurance journey can be scary, but Cross Insurance Agency can help. Here at Cross Insurance Agency, we always strive to be:
Get a quote from a Cross agent today to find out why we’re the best in the business!
How much do I need?
It all depends on your business and what you need protected. A BOP with property and liability insurance is a great start. Talk to a Cross Insurance agent today to determine what’s necessary for your small business.
What does the process of getting insurance look like, and how long does it take?
The first step is getting a quote, followed shortly by a call from an agent. Then you and your agent will discuss what kind of auto insurance you need and how much you’re willing to spend. Afterwards, you’ll have all the information you need to purchase the best insurance possible.
What do I need to purchase business owner’s insurance?
Getting a BOP will look different for you than for other businesses. Your insurance provider will need to look at your business location, the size of your business, and the amount of revenue you make. Talk to a Cross Insurance agent today to discuss what’s necessary to get your BOP.
If you have questions about business owner’s insurance or Cross Insurance Agency, you can contact us via a phone call, text, or email. You can also use our booking website to schedule a visit.
Or, if you need to manage your policy, you can use our client self-service portal or our mobile app. We’re here for you whenever you need!
Cross Insurance represents the top-rated insurance companies in Washington. We will compare pricing and coverage options finding you the best policy for your needs. Call us at: 888-438-6708 or click the button to the right to send us a message for your quote.
