Business Owners Policy (BOP) Information
Protecting your hard work, investments and assets is paramount as a business owner. One way to protect your organization is through a business owners policy (BOP). If you’re a small or medium-sized business owner, it’s critical to understand how you can benefit from a BOP.
What Is a Business Owners Policy?
A BOP represents an excellent solution for small businesses seeking comprehensive, cost-effective insurance coverage conveniently bundled into a single package. This policy combines both business property and liability insurance under one umbrella. Furthermore, a BOP offers the flexibility to be tailored to the specific insurance requirements of any small to medium-sized businesses, regardless of location or industry.
What Is Included in a Business Owners Policy?
The following are some common coverages typically included in a BOP or available as add-ons:
- Property insurance may help protect your business’s physical assets, such as buildings, equipment, inventory and furniture, against covered perils.
- General liability insurance may help safeguard your business against third-party claims for bodily injury or property damage arising from your operations, products or services. This coverage may help cover legal expenses, medical costs and settlements.
- Business interruption insurance may help compensate for lost income and ongoing expenses during the recovery period if your business experiences a covered event, such as a fire or natural disaster, and is temporarily unable to operate.
While certain coverages are packaged together in a BOP, the policy can usually be customized depending on your needs.
Who Needs a Business Owners Policy?
A BOP is designed primarily for small to medium-sized businesses and can be especially beneficial for specific businesses and industries. Contact Dixon Blackwood Insurance Agency
Inc. today to discuss your business insurance needs. Our team can help determine if a BOP is the right choice for your organization.