Business Owners Policy Coverage
Business Owners Policy or BOP is a business insurance policy that bundles general liability insurance, commercial property insurance, and business interruption insurance in one package. Hence, it is similar to the way a homeowner’s policy works. However, the difference is that it works for small and medium businesses. And instead of paying three separate premiums for three different types of insurance, you only pay for one insurance plan.
You’ve spent countless hours, days, or years building and nurturing your business. Ensure it has the proper coverage for affordable, customizable, and reliable coverage. A Business Owners Policy may be the perfect fit for your small business. Get the best Business Owners’ Policy now! Contact us at 844-234-5600.
Business Owner's Policy | A Perfect Insurance Plan For Your Small Business
Business Owners Policy
Since BOP insurance is specifically for small and medium businesses. The type of business can influence eligibility. Normally, companies that have less than $5 million in annual revenue. And fewer than 100 employees are candidates for a BOP. Some types of businesses, such as restaurants. May be ineligible for a BOP because of the specific risks. Hence, they may need to consider buying individual coverage separately. It offers a standalone product and with other lines of coverage. Business Owners Policy insurance enables small business owners to protect their businesses. And their customers – with just a single policy.
A Business Owners Policy generally combines the following types of coverage into one convenient bundle:
- Commercial property insurance: Protects the building from which you operate. It can also cover belongings like furnishings, machinery and equipment, and other items. Like robbery, accidentally damaged, or damaged by weather. Hence, commercial property insurance will pay for the property’s repair or replacement.
- General liability insurance: Injure person at a workplace is a result of your negligence. Hence, general liability coverage may help pay for their medical expenses. It also covers attorney fees and medical bills for anyone by injured the company.
- Business interruption insurance: It is also known for business income coverage. This coverage helps replace the lost income. And increased expenditures if your business might have to close temporarily or affected by a peril. This coverage might help you still pay those costs until you can reopen and start making money again.