Small Business Insurance in Indiana

A small business may need a policy that is specifically designed for the needs and characteristics of a smaller operation. Most states can require business owners to carry certain types of insurance to operate. If you operate a small business in Indiana, you may need Indiana BOP insurance.

What Does BOP Insurance Cover?

BOP insurance is a business insurance policy that can be used to cover standard types of risks that small businesses may be exposed to. This coverage can include three components.

  • General Liability. This component can cover any liability claims that may arise as a result of damage to other people’s property or bodily injury to others during the operation of the business. It may also cover claims against the company for loss due to company mistakes like advertising errors.
  • Business Income. If a misfortune such as a robbery, fire or natural disaster occurs that causes the owner to temporarily stop business operations, this component can cover the loss of income during the time of stoppage.
  • Commercial Property. This component can cover loss or damage to property owned by the business including the structure and contents.

Like most BOP insurance policies, Indiana BOP insurance may not cover workers compensation. Business owners may have to purchase a separate policy to satisfy unemployment and workers compensation insurance requirements.

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