As a business startup, you have numerous tasks to deal with, one of which is purchasing some kind of insurance. Your insurance type will depend on your business. However, most business startups look for crime insurance, liability insurance, and other common types of insurance to begin with.
Often, the process of purchasing insurance can become messy and complicated. Perhaps you’re unsure what each package is, whether you need it, or whether it’s worth the price. However, at Professional Insurance Plans, we simplify the process with an easy-to-understand business owner’s package (BOP).
What insurance is available for business startups?
As previously mentioned, there are many different insurance options available for business startups. Most likely, you’re looking to purchase crime and property insurance, alongside liability and business interruption. These are the most basic insurance types most businesses invest in, protecting you from a range of different scenarios.
The business owner’s insurance package contains these and more. For a full list of insurance types included in this package, see below:
- Business interruption insurance
- Property insurance
- Vehicle coverage
- Liability insurance
- Cyber liability
- Crime insurance
Furthermore, you can also tailor your business owner’s insurance package to your individual requirements, perhaps adding additional insurance types, or removing those you don’t need, for example, property insurance if your business is entirely digital.
It is worth noting, however, that the BOP generally does not include professional liability, worker’s compensation, auto insurance, or health and disability insurance. You will need to purchase these separately if required, but the BOP package is an excellent place to start.
As a start-up, shopping for insurance can be overwhelming. It can be difficult knowing what to buy, what the best deal is, and where to find these different insurance types. However, the business owner’s insurance package is perfect for startups and other businesses. The BOP contains numerous insurance types and can be tailored to your individual needs; there are few insurance packages out there that contain as a good value of money.
To find out more about the Professional Plans business owner’s insurance package, click here.