What is a Business Owners Policy?
Do you carry a home insurance policy? A BOP is actually simlar. Just as your homeowners covers your home, but also your personal home contents and liability, a business owners policy provides a package deal for multiple types of insurance. It is a simpler way to buy a policy to cover a small business than if you purchased each policy.
Even though typical business owners policies contain standard types of coverage, they can be adjusted to meet the specific needs of the particular company they are written for.
Insurers market different packages, and they can be custom made for some businesses, but there are some typical packages.
You can get your equipment, inventory, supplies, and equipmet covered in a typical property section.
Consider your liability needs. Your business may need professional liability or protection against a claim that an employee has caused damage to a customer.
Crime Insurance – Provide insurance from theft by employees or burglaries.
Coverage for liability in case a customer claims damage from an injury on your property.
Vehicles – This provides coverage for business vehicles, if they are owned or rented.
While business owner policies can be custom made, you may need to buy other policies for some needs you have. You can find qualified and experienced insurers or agents who can explain your options.
Why is the BOP a Popular Choice for Small Business?
It is just simpler to combine coverage, rather than have to keep up with several policies. Many small businesses choose to buy a package like this.
Medical professionals, store owners, and service pepole are attracted to business owners policies. These days, many home business owners are turning to these simpler ways of covering their inventory, supplies, and liability.
How to Find Business Insurance
In the old days, all a busy business owner could do would be to call around and set appointments with multiple insurance agents to find local coverage. These days, online quotes and forms can speed up the process.
Find Business Owners Policies in your local area with a fast and free free business policy quotes.