According to the Insurance Information Institute the best and least expensive way for a small business to buy liability coverage is as part of a business owners' policy or BOP. This means as a small business operator in Colorado, business insurance is probably best purchased in this packaged form. BOPs generally include property, liability, and income loss and business interruption insurances.  

With regard to liability coverage, a BOP covers a small business for damages as a result of property damage, bodily injury, and personal and advertising injury – including copyright infringements and defamatory material. The insurance provider pays for legal costs and covers damages up to the policy limit. The exception is medical payments coverage which pays for the medical costs of a person injured on the business premises regardless of who is at fault.  

Naturally it is best to reduce the likelihood of injury or damage happening in the first place. Ways to do this could include:

• Maintaining a safe building in terms of physical layout, steps, uneven surfaces, lighting and so forth.  
• Providing instructions for safe handling of products.
• Taking care in advertising with regard to copyright, privacy, false claims and slander.

When buying Colorado business insurance, make sure to work closely with your agent. It is important to fully understand everything within your BOP and to have all bases covered especially with regard to liability insurance so that your assets are fully protected.
 

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