Businesses today, especially small businesses and sub-contractor businesses, need insurance. From natural disasters of epic proportions to modern acts of vandalism, business owners today risk a lot when they do not invest in the proper amount of business insurance.
Things go wrong. It's the nature of business. When they do, you need to know you have the insurance coverage you need to help set many of those things right.
Insurance isn't about eliminating risks. It's about mitigating them – and giving you the tools you need to put the pieces back together when those bad things happen.
The problem is that there are many different types of insurance available for businesses. Here at A-Affordable Insurance Agency, Inc., we'll help you sort through the details of many different business insurance policies to help you make the best decision about insurance for Massachusetts sub-contractors, small business owners, or whatever title is right for you.
Business Owners Policy
A standard business owner's policy, or BOP, is a collection, or bundle of several different policies offered to business owners at a discounted rate. It's important to remember that some businesses will need additional coverage beyond what the BOP offers.
These are the basics that are often covered by an effective business owner's policy.
- Property Insurance
- Equipment Breakdown Insurance
- Bodily Injury and Property Damage Liability
- Medical Payments Coverage
- Business Income Insurance
- Umbrella Insurance
Other Important Business Insurance Policies
In addition to a standard BOP, most businesses need to be protected by other business insurance policies, including:
- General liability
- Employment Practices Liability Coverage
- Professional Liability / Errors & Omissions
- Commercial Auto Insurance
- Workers' Compensation Insurance.
In the state of Massachusetts, businesses who have employees must have workers' compensation insurance. Without it, your business could face painful fines and the possibility of lawsuits by employees injured on the job.
General liability and employment practices liability coverage are other important commercial insurance policies that a business needs to be aware of. Some businesses, especially sub contractors and other service providers, need professional liability, or errors & omissions insurance coverage. If you have business vehicles, you'll also need to invest in business auto coverage too.
A-Affordable Insurance Agency, Inc. understands how important getting the right small business insurance policy to meet your needs can be. Call 800-897-2837 today or stop by one of our many convenient locations to discuss your business insurance needs with one of our qualified staff members and we'll help you get the right policy for the right price.