Companies of 100 employees or fewer may face many of the same exposures of larger businesses. Smaller operations, however, experience different levels of liability. Commercial business insurance in the form of business owner insurance, or BOP, is designed to pull together essential protections under one plan, with one payment. A BOP may simplify the process of organizing and maintaining the coverage you need to ensure that your business is guarded from risk.
Bundles the Basics
There are certain types of coverage that nearly every business owner needs. Some areas of insurance would not be bundled in a BOP, such as workers compensation, which is generally addressed separately. Others may be considered standard components. Commercial property protects against financial loss from damage to buildings, equipment and other tangibles and intangibles that are housed inside your operation. Commercial liability protects your business against loss from claims of bodily injury, property damage on the premises or personal liability.
Add on What You Need
A BOP may be tailored to suit your businesss specific needs. You and your agent may discuss building coverage into your plan such as:
- Business interruption
- Hired and non-owned auto
Talk to Your Agent
Business owner policies are intended to help smaller companies streamline their commercial business insurance process. They offer adequate and appropriate coverage with the convenience of a single bill. If you qualify, discuss with your agent if a BOP may be the best option for you and your company.