If you are operating a small business, you need small business health insurance. It’s as simple as that. If you are in business and you don’t have insurance you are inviting trouble. You could end up by losing the entire business.

Anyone in business soon learns all there is to know about his particular line of business. He will soon develop a mass of knowledge and be able to offer customers good advice on the subjects included in his business. But there will always be areas in the business that he will not know very well and one of these is the matter small business health insurance.

The subject of business insurance for small to medium businesses is complicated and it is important that all aspects of the business are properly protected. There is special insurance for these businesses called a Business Owners Policy or BOP. This insurance package combines protection for all the main property and liability risks and was specially developed for small to medium sized businesses.

Business Insurance Packages for small businesses include:-

Property, contents and stock
Insurance cover for the property and the contents, including fixtures and fittings and stock on hand, according to a value that you provide to the insurer. This value is usually based on that value of the stock you carry at peak trading periods.

Business interruption insurance
This covers loss of income resulting from events such as a fire or other major events which disrupt the operation of the business. This insurance covers expenses for having to run your business from temporary premises.

Liability protection
This covers your legal responsibility for any harm caused to anyone by you or your employees during the operation of your business. Things like injury to persons or property caused by defective products or faulty services and installations.

Watch these exclusions
Separate policies are needed to cover some items not covered by the policy.
These are:
Professional liability,
Worker’s compensation,
Health or disability insurance
Auto insurance.

Using the services of an independent insurance agent or broker can be beneficial. An agent who you know and trust and who understands your business will relieve you of all the pressure involved in the insurance matters. In addition he will think of all the items that need cover and that you may miss.

You must, of course, keep your insurance agent or broker informed of any changes to your business, like expanding, downsizing, major purchases, employing more staff or staff reductions or change in premises.

Don’t forget to ask about the effect of the deductibles on your premiums. You could save on your insurance premiums by electing to pay higher deductibles. Depending on your circumstances, high deductibles could be false economy, so discuss this with your agent. There are other ways to reduce your premiums too, so follow your insurer's advice regarding workplace safety and disaster preparation.

Whatever you decide and do, the most important thing is to keep your business insured at the right price and with the right coverage.