What are the different types of business insurance?

[Knowlopedia]

There are a few different types of business insurance, but they all essentially share one goal: to protect your business in the event of a catastrophe. There are different types and levels of coverage for businesses, so make sure you know what you're getting yourself into before you start the process.

Here is a list of all the different types of business insurance, from most to least common:

• Property Insurance: This covers property that is owned by your company (like buildings), and it's usually more difficult to get than either personal property or liability insurance.
• Business Owners Policy (BOP): This type of insurance protects companies and owners against financial losses when their buildings are destroyed or permanently impaired.
• Business Personal Property Insurance: Commercial business owners have property that is used in their business. This can include cash, tools, equipment, furniture and a lot or vehicles. Some of this property may be owned by the business, while other items can belong to the owner themselves.
• Commercial Liability Insurance: This type of coverage protects companies against legal claims for bodily injury or damage to others' property caused by someone whose employment is covered by the policy.
• Employee Benefits Policy (EBP): An EBP provides coverage for eligible employees and their families under certain conditions. It may include health care benefits and/or life insurance coverage.