Do You Need a Business Owner’s Policy?


Trying to grow a small business can be risky. While a few risks are out of a business owner’s control, he or she can manage most risks by using resources wisely and protecting company assets adequately. Texas Preferred Insurance helps business owners analyze potential dangers and strategize a protection plan. Generally, a business owner’s policy provides a critical base level of protection.

Analyzing Risk

Small business owners have many responsibilities that can easily become legal liabilities. Certainly, most businesses have physical property they must protect from fire, theft, and other loss. Beyond that, though, companies usually must safeguard their employees from harm, protect their customers from defects in their products, and ensure business continues if something goes wrong. Further, depending on industry companies have additional risks that are unique to them. By defining and understanding potential legal and financial quagmires, business owners can be in a better position to manage risk.

Protecting Company Assets

A typical business owner’s policy protects company assets in the following three areas:

  • Commercial Property Insurance
  • Liability Insurance
  • Business Interruption Insurance

Texas Preferred Insurance frequently helps business owners achieve the most protection possible by adding additional coverage areas.

Smart business owners know they must protect their companies from legal and professional liability. By choosing the right policy to use as a framework, business owners can build the right policy for their company.