A Business Owner Policy (BOP) is a type of insurance policy designed to meet the needs of small to medium-sized businesses. It is a package policy that combines two or more types of insurance coverage into one policy. Typically, a BOP includes property insurance, liability insurance, and business interruption insurance.
What is Buisness Owner Policy?
Property insurance covers damage to or loss of physical property, such as buildings, equipment, inventory, and furniture. Liability insurance covers legal liability for injury or damage to others caused by your business operations or products. Business interruption insurance provides coverage for lost income and other expenses if your business is forced to shut down due to a covered loss.
A BOP is often more affordable than purchasing separate policies for each type of coverage, and it can be customized to meet the specific needs of your business. It is designed to provide comprehensive coverage for a variety of risks faced by small businesses, such as fire, theft, liability claims, and more.
Do You Need Business Owner Policy?
Your business is located outside of your home
You have fewer than 100 employees and less than $5 million in sales
You have property or equipment you need to protect
You want to protect investments you've made in your business
Our Insurance agency may be right for your business if:
What does a BOP cover?
Insure against physical damage to your business property.
Protect your business from lawsuits and injuries.
Cover your business against an interruption in income if you have to shut down unexpectedly.
Protect your equipment against breakdowns..