BUSINESS INSURANCE
What does a business owners policy cover?
A Business Owners Policy, or BOP, protects your small business from a variety of risks, usually through a combination of general liability, property, and Workers' Compensation insurance.
Who Needs a Business Owners Policy?
All small businesses such as retail stores, restaurants, and independent contractors typically need a BOP to safeguard against unexpected financial losses beyond general liability claims.
What's In a BOP?
A simple BOP might contain only a few coverages, such as:
General liability - Provides protection if you cause bodily injury, property damage, personal injury or advertising injury. *Eligible contractors can get General Liability as a standalone coverage.
Property - Provides replacement cost coverage for buildings and most business owners' personal property.
Workers' Compensation - Protects you and your employees from financial hardships caused by accidents or illnesses related to the job.
But you might be exposed to other risks. Additional BOP coverages might include:
Professional Liability
Employment Practices Liability
Identity Theft
Electronic Data and Equipment
Personal Property of Other
Valuable Papers and Records
Blanket Additional Insured
Limited Property of Others Liability
Short-Term Pollution from Pollutants at Job Site
Building & Business Personal Property
Business Income and Extra Expense
And more!
Situations vary. You might have simple needs when you start out, but you might realize you need to fill in a few gaps as your situation changes. We'll help you decide what you need, when you need it.
PLEASE NOTE
The above is meant as general information and as general policy descriptions to help you understand the different types of coverages. These descriptions do not refer to any specific contract of insurance and they do not modify any definitions expressly stated in any contracts of insurance. We encourage to read your policy contract to fully understand your coverages.