By Catherine Powell
Running a business isn’t for sissies. That’s because there’s precious little that’s free in a free-market economy. Everything from rent and payroll to advertising and inventory add up. Then there are unforeseen situations that can stop a business in its tracks, like distribution bottlenecks and a little thing called COVID-19. If all that wasn’t enough, there are dozens of ways that you and/or your business can be held liable. Slip and fall accidents, worker’s comp issues, and errors & omissions can land you in court. While general business liability insurance can protect you against these situations, it’s not all-encompassing. Typically, this means you’ll also need to purchase a commercial property policy to cover your building and its contents from fire, theft, or acts of God. The alternative is to purchase a policy that combines both. It’s known as a Business Owner’s Policy, or BOP.