P.O. Box 291
Because your business faces the unexpected on a daily basis, there are always risks involved. Whether it’s the risk of damage or loss to your property or customers, you can help protect your business from the unexpected with an insurance policy. With the coverage and convenience of business owners insurance, you may be able to minimize property and liability risks so you can focus on the future of your business.
A business owners insurance policy, or BOP, combines business property and business liability insurance into one convenient policy. Your business faces a variety of risks unique to your industry, but there are certain coverages that businesses need regardless of their size or business type. Having a BOP helps you safeguard your business by helping to protect what you’ve built.
The first type of coverage in a BOP is property insurance. Property insurance may cover risks associated with your premises, equipment, and vehicles. In addition, it may often include any associated loss of business. This is essential coverage because it may help protect your business, assets, and income. For instance, here are a few of the coverages to consider in your business owners insurance policy:
The second type of coverage in a BOP is business liability insurance. Business liability insurance may cover personal injuries to people you deal with and damages to their property. However, it’s important to note that liability insurance usually doesn’t cover risks related to professional services—meaning damages that result from you giving clients inaccurate advice, for instance. The liability coverage included in your business owners insurance policy is important, especially if:
Getting a business owners insurance policy means covering these risks in a single policy, which may significantly reduce stress and help bring you peace of mind. Policies are typically tailored to help cover your specific needs, and pricing varies depending on your business. However, it’s usually cheaper than buying separate policies for both commercial property and liability coverage.
Finding a business owners policy that works for your specific business is important so you can help protect your business, income, and assets. With this protection, you can worry less about the risks involved in your business day-to-day, and put more of a focus on the future of your business.
If you run a business, consider the benefits of a business owners insurance policy. Contact us to go over your business needs and coverage options.