Map your business risks before buying insurance

Describe the business as it operates

Start with a short inventory: what you sell, where work happens, who works for you, which vehicles and equipment you use, and what customer information you hold. Include online sales, work at customer sites, and activities run from home. These details help an insurance professional identify gaps that a generic business description can miss.

Match each exposure to a question

• Customer injuries or property damage: What does general liability cover, and which activities are excluded?
• Advice or professional services: Is separate professional liability or errors-and-omissions coverage needed?
• Equipment, inventory, and premises: What property is covered, where, and for which causes of loss?
• Employees and driving: What workers' compensation or commercial vehicle requirements apply to this operation and location?
• Customer data and digital systems: Which cyber-related losses need specific coverage?

Understand the package

A business owner's policy, often called a BOP, commonly bundles property, general liability, and business interruption coverage. Eligibility and terms vary. A BOP generally does not include workers' compensation, commercial auto, or professional liability, so the package name is not a complete coverage checklist.

Homeowners or renters insurance may provide limited protection for business property and may exclude business liability. Tell the insurer about home-based activities rather than assuming a personal policy is enough.

Read interruption coverage closely

Business interruption insurance often depends on covered physical property damage. It does not automatically replace revenue whenever sales stop. Ask which events trigger coverage, whether a waiting period applies, what expenses qualify, and how long payments can continue.

Bring these items to the conversation

Verify legal requirements with the relevant state authorities. This is general U.S. education, not a tailored insurance or legal assessment.

• Current policies and an inventory of property and operations.
• Lease and customer-contract insurance requirements.
• Questions about deductibles, limits, exclusions, and claim reporting.
• A plan to revisit coverage when staff, locations, services, or equipment change.