Top 5 Insurance Policies All Small Businesses Should Have

Small businesses are the backbone of any economy. Just like big companies, small businesses need insurance to help them through tough times. Here are 5 insurance policies every small business should buy.

Small Business Insurance

Business Owner’s Policy (BOP)

This is the ideal insurance policy for all small businesses. It almost encompasses all other policies. The BOP includes liability insurance, property insurance, business interruption insurance, crime insurance, and vehicle insurance. As a business owner, you can choose the number and type of policies you need to be included among the ones highlighted. Getting a BOP is cheaper than having individual insurance policies.

Property Insurance

As a small business, if you own the building or other related property, it is best to get it insured under this policy. With this, when there is damage or loss to your business property, the insurer will pay for the damages.

Worker’s Compensation Policy

This is a must have for all business owners. This policy caters for employees that get injured during the cause of work. Medical bills and wages will be paid during this time of injury. This policy helps pacify the employee from suing your business. The policy protects you as the owner as your business as well.

Cyber Insurance

We live in an age where data breach and hacks have become a norm. If you have a business that is internet based, your business is potentially at risk. Unlike property insurance that takes care of the hardware components in your business, cyber insurance helps protect your software and business data in case it gets hacked. The policy also provides public relation to help protect your business reputation.

General Liability Insurance

This insurance protects your business against any injury, loss, or damaged to a third party, caused by your employees, products or services. Basically this protects your business from getting sued by third parties.


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