Guide To Business Owners' Policies

​If you are new to the business industry and have less than a hundred employees, you still need insurance to safeguard your company. A Business Owner Policy (BOP) is a great way to start if you want to provide better security to your small business. 

A business owner policy is a type of insurance where the basic coverage of property and liability of standard business insurance are combined. In addition, small company owners are the target insurer of BOP due to its lower price than any other type of insurance you purchase separately. 

Business Owner Policy Coverage
Business Owner Policy may compensate your business from liability, lawsuits, and property damage. Everything that a small company needs is provided by BOP insurance. Here are the types of coverage that business owners' policies may offer:

1. Property Damage 
Business owner policy may cover you when unforeseen circumstances occur, such as fires, vandalism, disasters, and facility or structure damages. 

2. General Liability 
General liability is the most basic insurance that every business owner should have, whether small or big. Liability may safeguard your business in certain events like property damage, injury, or medical fees. The policy provided by general liability will lessen the burden of your business expenses. 

The general liability also covers this type of damage:

• Medical fees
• Advertising injury
• Damage to property
• Bodily injury
• Personal injury

3. Business Interruption
Suppose your business is temporarily closed due to an accident or a small renovation project. In that case, business interruption insurance may aid you while your business is recovering from the incident. 

Who Needs a Business Owner Policy?
A business owner policy is designed for small company owners or someone who may be just starting to build their firms. Here are some businesses that are eligible to purchase BOP:

• Restaurant owners
• Landlords
• Convenience stores
• Wholesalers
• Contractors
• Small business owners
• Home-based business
• Freelancers

Conclusion
If you want to protect your business at a reasonable price, purchasing a business owner policy is a practical choice. The insurance could save your company from all potential risks, disasters, and hazards.

At CSIS Insurance Services, Inc., we put our clients first by offering them policies that they can afford. Insurance is a necessity nowadays, and we're here to help you. Learn more about our products and services by calling our agency at (888) 501-2747. You can also request a free quote by CLICKING HERE. Topics and coverage discussed in this article are not guaranteed, consult with your agents to determine what your policy does and does not cover. We are more than happy to help!