As its name suggests, business insurance protects businesses, including business owners and their employees. Because every business is different, there is no single blanket insurance policy for small business owners.

For example, an ice cream parlor has very different insurance needs than an auto repair shop or golf course. This is why many small businesses opt for a Business Owners Policy (BOP) , which combines business property insurance , liability insurance , crime insurance , and other coverages in one convenient package.

Business owners also have the option of choosing coverage based on their industry .

What is commercial insurance?

In simple terms, business insurance consists of one or more types of coverage designed to protect businesses, their owners, and employees. Many business insurance policies include basic coverages, such as property, liability, crime, and commercial vehicle insurance , as well as other optional insurance, such as business interruption insurance , equipment breakdown insurance , cyber risk insurance , and workers’ compensation . employee benefits,such as dental, vision, disability, and group life insurance are also part of business insurance. Similarly, this group includes surety bonds that help ensure that contractors adhere to the terms of a construction contract and follow government regulations and standards; it also helps protect them against losses arising from a court decision or theft by an employee.

How much does business insurance cost?

When it comes to choosing insurance, most business owners want to know what insurance they need and how much it will cost. As we have already discussed, one of the most important factors in determining what insurance coverage is needed depends on the type of business. Other important considerations include:

• Location
• Quantity of employees
• Years in activity
• gross annual income
• If the company owns or leases vehicles
• If the company owns, leases or rents the building(s) in which it operates

How to get business insurance

You can get an online quote from Nationwide in just 10 minutes, then call the toll-free number shown to complete your purchase with a Nationwide agent. In some cases, you can even complete the purchase online. Or, you can set up a call with an independent agent to discuss the details of your business and any questions you may have.

For more helpful resources, visit the Nationwide Business Solutions Center .