BUSINESS OWNER'S POLICY (BOP)
A Business Owner’s Policy, also known as a BOP, offers broad insurance coverage for small businesses. A BOP combines several types of insurance coverage together so you can conveneintly buy a package of protection at a competitive price. Your business can get property insurance, liability insurance, crime coverage and much more built in to one convenient package. We offer BOP for apartments, buildings, condominiums, contractors, garages, manufacturers, offices, religious organizations, restaurants, stores, technology offices and more.
Commericial Liability coverage insures against the payment of damages and legal defense that your business may incur due to negligence of your business or its employees. This includes common risks such as customer injuries on your premises or from products or services you sell.
If your business owns or uses motor vehicles/equipment that your state requires to be insured for minimum financial responsibility, you will need a commercial auto policy. Commercial auto coverage insures against property damage to vehicles you own or hire, and against liability for bodily injury and property damage caused to others. It is important to know the difference between a personal automobile policy and commercial. A personal automobile policy typically does not cover vehicles used in the operation of your business.
Having insurance to protect you against loss or damage to your business property or loss of income is of the utmost importance. Property losses include damages to your building or structure, or to personal property. Property coverage can be tailored to cover all of your equipment, including computer hardware and software, plus your valuable records. In many cases, coverage can also include equipment breakdown that can temporarily close down your business causing loss of income.
If your business has employees, Workers’ Compensation insurance will be mandatory. Workers’ Compensation insurance covers you for an employee’s on-the-job injuries. Workers’ Compensation is a system in which employers participate to provide payment to the injured employee for medical bills and compensation for on-the-job injuries, in return for a statutory prohibition against the employee suing their employer for said injuries.