Question: I have a question regarding liabilty insurance on my bath and body items. Where do I find it? And do I need it? What if someone has a bad reaction to my items? What should I do? Thank you.
Answer: There are many different types of insurance available to the small business owner. Many insurance companies sell what is called a Business Owner’s Package or BOP for short. A BOP combines several different types of insurance coverage into one package. Usually a BOP will cover:
- Property Insurance: This provides coverage in the case of damage to your business. A property insurance policy can cover damage to your building, your business property (furniture, inventory) or both. It may or may not cover your computer and/or phone system.
- Business Interruption Insurance: This covers the loss of income that results from a disaster which interrupts or stops your business from functioning.
- Liability Insurance: This provides protection if a product that you make or sell causes harm to others.
This is just a general view of business owners insurance. For specific details, ask the company who you are thinking of purchasing insurance from.