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Business Owners Insurance - Business Owner Policies (BOP)

If your business has fewer than 100 employees and revenues less than $1 million, it's eligible for Business Owners Insurance, an effective and economically way to acquire Property Insurance and Liability Coverage in one policy, significantly reducing the threat of serious financial loss or even bankruptcy. Request Business Insurance Quotes today, or read on to learn more about the Benefits of Business Owners Insurance.

What is Business Owners Insurance? How does it work...

  • A Business Owners Insurance Policy is an Economical Insurance solution for small to medium-sized businesses. It provides both Business Property Coverage and general Liability Protection.

  • Many Business Owner Policies (BOPs) offer low premiums, but also require coinsurance payments, meaning that policy holders pay a portion of their claims.

  • BOP Property Coverage can be provided on "named peril" or "all risks" basis. Few will cover loss of money or important records.

  • BOP Liability is similar to commercial general Liability, but not quite as comprehensive. One example: it has defined limits for specific claims. Additionally, BOPs do not include professional Liability Coverage, which covers losses and expenses from claims of error, omission or negligence.

Special Benefits of Business Owners Insurance...

  • Most BOPs provider Business Interruption Coverage, reimbursing lost income and expenses, such as payroll, from interruption or suspension of business due to diaster-related damage

  • BOPs typically reimburse up to a year of lost revenue, resulting from insured property loss.



Do's and Don'ts of Business Owner's Insurance

  • Use the Internet to compare Business Owners Insurance Policies and request Business Insurance Quotes. Often costs for similar policies from different carriers will vary widely.

  • Carefully review each policy's coinsurance requirements as well as coverage limits.

  • Be aware that BOP Liability does not include Professional Liability Insurance, protecting against claims of negligence.

For more information on Professional Liability Insurance - Click Here

 

 

 


 


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