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Business Owner’s Policy Basics
There are many responsibilities that come with owning a business, including making sure that your business is protected in case of any unfortunate situation. Investing in the right business insurance policies is the best way to provide protection. However, with all the policies that are available, it can be difficult making sure that you invest in the right policies. Luckily, a business owner’s policy will provide many different coverage options, all in one single policy.
A business owner’s policy, also known as a BOP, is insurance that is specifically designed to provide coverage for small and medium sized businesses. Insurance providers will determine if a business can qualify for a BOP depending on the number of employees or the revenue of the company. BOPs combine many different insurance coverage options into one single policy, making it much easier to handle. While most BOPs come with the same coverage options, they can be customized to help provide the right amount of coverage for your specific business.
Some of the most common coverage options that are included in a BOP are:
- Copyright infringement coverage
- Property claims coverage
- Business interruption or loss of income insurance
- Breakdown of equipment coverage
- Libel and slander coverage
- Premises liability
- Completed operations and products coverage
The cost of your business insurance policy will depend on the size of your business, as well as how much coverage you want. Working with an independent insurance agent is the best way to ensure that you invest in the right amount of coverage for your business.
For all of your business insurance needs, contact the insurance professionals at Cook, Disharoon & Greathouse in Oakland, California. As an independent insurance company, we will work with you to make sure that you have the right amount of protection, all at the right price.
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