When you’re starting a new business, you’ll need to make sure you have adequate business insurance coverage to cover your assets and protect your company from unforeseen circumstances. You can find several types of business insurance policies from various providers, including established insurance providers like The Hartford and Next Insurance, as well as startups such as Insure My Business. The best way to find the right business insurance policy for your company is to assess the risks it faces and shop around for the best price.

A BOP covers your company against many financial risks, including professional errors, damage to property, and workers’ compensation claims. Business insurance also protects you against bodily injury, advertising injury, and property damage. This policy also protects you against a wide variety of other risks, such as the theft of inventory. The best policy will include comprehensive coverage, as well as a deductible, to help cover any expenses that might be incurred while restoring your business to its previous state.

You should seek a professional liability insurance policy for your business if you offer professional services. Professional services carry a different type of risk due to their expertise. As a result, you must have adequate liability insurance coverage, which can be a major liability for your small business. Look for a comprehensive plan with extra coverage and add-on features. Adding double coverage rarely translates into a double premium, so make sure you have the right policy for your business.