Business Owners Policy (BOP)
Many businesses are insufficiently covered for their industry. BOPs help cover 3 basic insurance coverages all-in-one. Business Liability, Business Property, and Business Income. BOPs are a very essential, smart and a beneficial purchase.
Business Liability protects your business if a customer slips and falls, an employee causes damage to a customer’s property while on a house call or if a lawsuit against you for different reasons.
Business Property protects your businesses equipment used to operate. It can a company protecting their computers, desk, office supplies or a dog groomer can protect their grooming table, leashes, collars, kennels and other stuff. If a situation causes damages to the equipment, it is always good that your equipment can get coverage to continue to operate.
Business Income helps when your equipment needs to be replaced and you can operate so you will get the loss of income covered.
BOPs are a very essential, smart, and beneficial purchase.
These 3 basic coverages make up a Business Owner’s Policy. You can add coverages on top of these options:
- Professional Liability Insurance
- Computer & Media Insurance Coverage
- Data Breach Insurance Coverage
- Employee Dishonesty Insurance Coverage
- Business Income for Off-Premises Utility Services Coverage
- Employee Benefits Liability Coverage Insurance
Does my business need BOP?
Business are all different but should all consider a BOP and have it tailored to their specifications. If your business is registered with the state and it has a physical location at home or at a leased/owned property, you should see how it can help you. If you have customers go to your workplace, you should see how it can help you. If you have equipment or information that can be damaged, stolen, or hacked then you should see how it can help you.