Business Owners Policy
The Essential Benefits of Business Owners Policy Insurance
A business owners policy, also known as BOP insurance, is the accumulation of various insurance coverage with additional protection into one special package.
BOP insurance helps cover your business from claims resulting from things like fire, theft or other covered disasters. Business owners insurance also helps cover claims that could arise from your business operations. These include claims of bodily injury or property damage. They also include claims related to personal and advertising injury.
Businesses can tailor their Business Owner’s Policy (BOP)
BOP policies provide coverage for property damage caused by natural disasters like fires and floods; liability coverage to protect against bodily injury or property damage claims made by customers or other third parties; advertising injury protection from claims related to false advertising; and medical payments coverage for minor accidents that occur on-premises. As a business owner, it’s important to be aware of what exactly your policy covers – so you can make sure it provides the right level of protection for both you and your employees. To help meet their unique needs by adding optional coverages, like:
- Data breach
- Business income for off-premises utility services
- Other specialized policies
Protect Your Business from Fire, Theft, and Other Covered Disasters with BOP Insurance
Who Needs this Policy?
If you rent or own workspace or have client contracts that require general liability insurance, you’ll likely need a Business Owner’s Policy (BOP). A BOP can help your business if:
- You have a physical location: No matter what type of location you have, it’s important to have coverage for your business and assets. BOPs can help cover businesses run out of homes, rented or owned offices, stores or garages.
- There’s a possibility of you getting sued: For example, let’s say a customer at your workplace slips and falls. Without the proper business owner’s insurance, you may be looking at hefty out-of-pocket fees to cover the customer’s medical expenses.
