Business Insurance

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What is Business Insurance?

Business insurance, also known as commercial insurance, can protect your business in case of disaster. As a small business owner, you have a lot on your plate. From accounting to marketing and customer service, you have enough to worry about. Your business insurance shouldn’t be one of them. The trusted experts at The Craven Agency have got your back. We offer Business Owner’s Policies, General Liability, Cyber Insurance and more to keep your business running smoothly.

Contact us for more information on how we can help protect your company with business insurance options.

General Business Insurance - The Craven Agency

The Importance of Business Insurance

While carrying insurance on your small business isn’t legally required in most cases, it is certainly a good idea. Consider the following scenarios:  

Slip & Fall

A client slips and falls at your office and sues you for damages.

Financial Damage

In providing professional services, you give incorrect information that causes a customer financial damage.


A fire breaks out in the building where you lease your retail space and your shop is closed for a month while repairs are being made.

Data Breach

Your customers’ credit card information and other sensitive information has been stolen due to a data breach.

In all of the above examples, you could be legally responsible and on the hook to pay for damages. A large loss or lawsuit can be financially devastating to any business, but especially a small one. However, with commercial insurance, the financial burden is transferred to the insurance company. This means that you can keep your business running without disrupting your daily activities or cash flow.

Types of Business Insurance

There are a few different types of commercial policies that a business owner can purchase, depending on the nature of their business and their needs. The most common types of insurance policies are listed below:

  • Workers Compensation– Almost all states require businesses with employees to purchase a workers compensation policy. This type of policy covers any medical or lost wages to an employee who is injured on the job.
  • General Liability– A general liability policy protects business owners by paying for bodily injury or property damage for which they are legally responsible.
  • Professional Liability– For the business owner who sells a service, professional liability is a must. This policy will pay for any damages that results from negligence or an error in providing this service.
  • Commercial Property– Any business owner who has physical assets can benefit from a commercial property policy. This policy covers any property such as computer equipment, inventory or signage from specific events like fire, theft, and vandalism.
  • Business Interruption– If a business is closed due to a certain event, a business owner can potentially lose money in sales. Business interruption insurance provides coverage for operating expenses if a company is forced to close for a period of time.
  • Business Owner’s Policy (BOP)– A BOP, or business owner’s policy combines general liability, commercial property, and business interruption coverage.

To learn more about business & commercial insurance and how the The Craven Agency can help protect your business, talk to one of our licensed agents.

Contact The Craven Agency today! Serving Shreveport, Bossier City, Minden, Ruston, Monroe and the surrounding communities in Louisiana and the Ark-La-Tex regions.​


We'd love to talk through any of your business or personal needs and build the right insurance policy for you.

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