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What is the most common type of Business Insurance purchased by small businesses?

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Small businesses count on low overhead and low costs to help increase much needed profits. Making the right decision on the proper business insurance needed will help keep the high cost and premiums of business insurance down. Most small businesses only need a business owner’s policy. This type of business insurance policy is also known as a “BOP” by insurers. BOP insurance could be all or most of the business insurance a small business will need because it insures equipment, buildings, and protects against claims for personal injury or damage to property. The two categories involved in BOP insurance are property coverage and liability coverage. Even if there are more business insurance or other types of coverage needed, it could be less expensive to add to the BOP than it would be to purchase a policy not need for the small business.

Any business insurance broker can give quotes on BOP insurance. However, there are other options available than just using a business insurance broker. There are web sites available that can give free quotes online as well as give the details needed in making a good decision on purchasing BOP insurance.

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