Protecting your Illinois small business is just as important as investing in its growth. Commercial insurance can protect your business from unforeseen events that can derail you financially. At Turner Vermost Agency, we can tailor your commercial policy to suit your unique business needs. Here’s what you should know about business insurance in Illinois.
If you own a small business in Illinois, you can benefit from BOP insurance. BOP policies generally offer the following coverage:
Property Insurance – Property coverage protects your building, business equipment, and inventory against risks like fire, vandalism, hailstorm, winter storms, and more. These investments are at greater risk of damage or destruction in a disaster.
General Liability – General liability protects your business assets by covering accidental injuries that customers may have when they visit your shop, office, or warehouse. Otherwise, your business could be held liable for paying medical costs. Due to the high cost of medical care, liability insurance could save your business thousands of dollars or more out of pocket.
Business Interruption – If your business has to close temporarily due to disaster damage, you could lose a substantial amount of money in revenue. Business interruption reimburses you for lost revenue, payroll, and other business expenses to keep your business afloat until you can reopen your doors.
BOP insurance offers the essential coverage that most small businesses need. If your company requires additional coverage due to the particulars of your business, you can always add extra coverage to your BOP. Depending on your business, you may need:
Workers Comp – to protect employees against accidents on the job. If your business has one or more employees, Illinois requires that you have workers comp.
Cyber Liability – to protect your business against data breaches
Commercial auto – to protect you against accidents when using vehicles for business purposes For help in choosing the right commercial coverage for your Illinois business, contact the insurance specialists at Turner Vermost Agency.