Diversity of Commercial Insurance Policies

Opening a business means you’ll need commercial insurance. What kind of business you open decides which of the more than 20 types of commercial insurance offered by Integrity Advisors Agency LLC (Stephen Reese) your business needs. We’ll also cover how to determine which ones you need for your San Antonio, TX business.

Starting with a business owners’ policy (BOP) makes the most sense. A BOP provides the four most commonly required types of policies – business interruption, liability, property damage, and perils. You can add any type of coverage to a BOP.
Let’s say you own a dry cleaning business. You need a BOP for its four types of insurance, but you also need inland marine insurance because you take possession of individuals’ clothing and houseware items for cleaning and storage plus commercial auto insurance.

Conversely, the dentist two doors down from your business need malpractice and errors and omissions coverage added to her BOP. The owner of the building in which both of you lease office space needs commercial dwelling insurance and an umbrella policy for enhanced liability coverage.

Not only does each different kind of business need a different combination of policies, but each business within that business category or industry will have custom needs. Some may lease in a building with a boiler, requiring a boiler policy, while another might office in a building with many plate glass windows, which would require glass insurance. Their main competitor might have interior offices that have no windows, so they could skip adding that policy.

The BOP forms the foundation of most commercial business policies, but your business’ operation’s needs and peril threats will determine what you add to it.

Contact Integrity Advisors Agency LLC (Stephen Reese) serving San Antonio, TX for a custom consultation today. Let us help you protect your business endeavors.