Businessowners

What is business owner’s insurance?

Business Owners Insurance, or BOP Insurance, combines some of the basic coverage needed by a typical small business into one standard package at a discounted premium. A Business Owners Policy (BOP) combines several types of commercial insurance, including General Liability and Property Insurance allowing small to medium sized businesses to get the needed coverage in one policy. Consolidating all the necessary business coverage into a BOP insurance policy can be a good idea for small businesses looking to save money while getting their insurance needs covered.

How Business Owners Insurance Works

Typically a BOP insurance policy will provide the following coverage:

• Business interruption insurance (covering losses that cause you to shut operations or reduce production for a time). Business interruption insurance can provide money to offset lost profits or to pay continuing expenses (typically for up to a year for insured losses).
• Crime insurance (covering loss of money or securities resulting from burglaries, robberies or destruction) as well as losses from employee theft or embezzlement.
• Vehicle coverage for rented or borrowed vehicles.
• Business Owners Insurance insures a damaged property for replacement cost value, which means that you would receive enough from your settlement to replace the property at today’s value.
• General liability protection that insures against claims of bodily injury or property damage by someone injured at the business. The liability portion also covers the cost of defending lawsuits that claim you are responsible for causing bodily injury or property damage.

Other coverage can also be added to meet specific needs of the business so talk to our agents today and get all the coverage required to protect your business.

Why Buy a Business Owner’s Policy?

There are several reasons why BOP Insurance might be right for your company, such as:

• Low business insurance costs
• Minimum Hassle- since the coverage is prepackaged, you only have one policy to review
• One monthly premium
• Ability to add coverage need in the form of endorsements or riders

Call our office today and discuss your business insurance needs with us and we can give you a free risk analysis review.