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BOP (business owners package) insurance can be the ideal way to protect a small business. The bottom line is that you want the maximum possible coverage at the lowest possible rate, and BOP insurance could be your best option.
A BOP insurance policy covers all the major property and liability risks, and is typically the ideal insurance for smaller companies. A BOP policy protects your business against the following risks:
BOP insurance does not cover every type of business risk, but added coverage can be arranged for the following:
Is your business right for BOP insurance? Many small businesses are eligible for business owners package (BOP) insurance. As a bundled policy, these policies are more affordable and available to smaller companies that meet specific criteria:
The main benefit of BOP insurance is the lower cost – an important point for small business owners. The cost of bundled insurance is less than buying insurance policies for property and liability separately. However, for some businesses, general liability insurance will be required. General liability insurance covers bodily injuries, property damage, advertising, and personal injuries such as slander, libel, and copyright infringement claims.
General liability insurance also covers the cost of attorney fees, court costs, and any settlement or judgment up to the policy limits – but not property damage. Some types of business activities may require general liability insurance. If you have a small business, work in a smaller facility in a lower risk industry, and do not require business interruption insurance that extends longer than 12 months, a BOP policy is more affordable and could provide the coverage you need. If you are looking for an affordable BOP insurance policy, contact one of our insurance agents to help you find the best policy at the lowest rate.Filed Under: Business Insurance | Tagged With: Business Owners Package