Business Insurance Kentucky

Jul 25, 2019 (0) comment

Business Insurance Kentucky

A Business Owner’s Policy – is a unique small business insurance policy used to cover major property and liability risks. Some of the risks covered by the BOP include business interruption insurance that covers loss of income in the event of a disaster. Another risk covered by the BOP is the additional costs incurred in the event of forced relocation of companies.

Save Up to 27% in Business Insurance Kentucky With AmeriAgency. With More Than 20 Years of Experience, We’re Sure We Can Help!

However, the basic BOP does not cover all the risks that an entrepreneur may incur. This means that you will need additional cover in case of other risks. Some of these risks may include additional costs and risks associated with the use of e-commerce, as well as loss of revenue in the event of a hacker or malware attack. Data loss recovery costs also have to be covered in the additional coverage.

BOP is not an insurance policy for all types of businesses. To meet the criteria of this policy, you have to be a small or medium business. Insurance companies will also take into account other additional factors. These factors include the size of your business premises, the type of business you have, as well as the limits of liability that affect your business. Insurance coverage also considers the outside activities affiliated with your business. BOP premiums also depend on potential fire risks, security location, financial stability, as well as the infrastructure affiliated with your business.

Types of Small Business Coverage

Most businesses will need at least four types of insurance to operate. These are:

  • Liability Insurance – This type of insurance package protects you in the event of a lawsuit against your business. The insurance will help cover the costs of damages if your business is found liable. Coverage extends to attorneys’ fees, legal research fees, and medical fees in the event of injuries within your property and so on. Expenses will be covered within the limits of the policy.
  • Property Insurance – This package covers you in case of loss or damage to property by fire or theft. It covers both basic infrastructure and personal property, such as company inventory, equipment and computers, as well as raw materials.
  • Business Auto Insurance – The insurance package is used for company-owned vehicles. This particular insurance will cover up to the limits of the policy, any injury, as well as property damage, arising from business vehicles.
  • Worker’s Compensation Insurance – This is a mandatory insurance that covers all employers depending on the number of employees you have. The package generally covers expenses incurred in the event of an employee’s injury or illness and helps replace a portion of lost wages.
  • It is important that you obtain the best BOP coverage for your building and commercial property to avoid future financial losses that could paralyze you.

Save Up to 27% in Business Insurance Kentucky With AmeriAgency. With More Than 20 Years of Experience, We’re Sure We Can Help!

For more information, call us at 1-888-851-5572. If you would like to receive a fast and free quote, visit us on our webpage!

Comment (0)

Categories

Categories

Tags

Recent Comments