There is no denying the fact that success of a business depends on the hard work of the team but one disaster can wipe out your efforts and bring down the profits to dust. So, to avoid such an instance, you need to insure your Mississippi business, whether it is a small enterprise or a large corporation.
There are business insurance companies, which have policies that combine protection for all major property and liability risks in one package. Such a policy is called a business owners’ policy (BOP). Larger companies may purchase a commercial package policy separately.
BOPs include property insurance for buildings and equipment owned by the company. If there is any loss of income due to disruption of operation and business because of accidents like fire, it can be covered under the Business Interruption Insurance.
There are liabilities, which cover the company’s legal responsibility for the harm it may cause to others. It is the result of your company’s failure to do the business operations. It can also be the bodily injury or property damage caused due to defective products, faulty installations and errors in services provided.
BOPs can also cover your businesses commercial auto risk, including auto liability and physical damage.
However, BOPs don’t cover professional liability, auto insurance, worker’s compensation or health and disability insurance. Separate policies are needed for professional services, vehicles and employees. Generally, floods, earthquakes and terrorist attacks are not covered in the business insurance.
Putting a little effort into your business insurance renewal can reap rewards in the form of better coverage and lower premiums. US Select Insurance is an Independent Insurance Agency specializing in writing a complete range of insurance products from Business/Commercial to Personal. Our staff is committed to providing unsurpassed customer service, excellent products, and affordable premiums to our clients.