CSIS Insurance Services, Inc. Blog
A business owners' policy or BOP is an insurance policy that can protect a small business from common risks such as theft, fires, business liability, and losses due to business interruption. It is a pre-packaged deal and works with just one policy; thus, it's cost-effective and less confusing for business owners.
BOP Protects Your Inventory and Business Equipment
This type of business insurance package covers your office space, workspace, kitchen area, or manufacturing area in case of theft, fire, or damage due to natural means. It also secures all equipment you use to manufacture products or to provide services. BOP also protects your inventory as long as these are listed in your insurance coverage.
BOP Covers Any Injuries Caused By Your Products Or Services
Any injuries due to using your products or as you perform services will be covered by BOP insurance. Customers injured in your workplace are also covered, including the cost of medical treatments and work interruptions.
BOP Covers Lost Revenue If You Need To Close Down
BOP also covers any lost revenue if your business shuts down because of wind damage, fire, or theft. You can use this money to cover the cost of reconstructing your business site, office, or factory. BOP will help pay your employees if they cannot work as your business needs to take a break.
Tailor Fit BOP Coverage Depending On Your Needs
BOP sounds amazing, but it does not cover all kinds of risks in a small business. This is why you can arrange your BOP coverage to meet your business needs. Aside from the mentioned coverage, you may add workers' compensation, health and disability, business vehicle insurance, and flood insurance.
If you conduct business online or use the web to connect to clients and customers, you may need to add cyber risk insurance. And if you personally provide professional services, you may add professional liability insurance to your existing BOP package.
To find out more about business owners' insurance policies and how BOP can change the way you conduct business, consult a business insurance expert right away.
At CSIS Insurance Services, Inc., we aim to provide comprehensive insurance policies that make your life easier. We want to help you get the insurance that fits your needs. You can get more information about our products and services by calling our agency at (888) 501-2747. Get your free quote today by CLICKING HERE.
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