The Lowdown On Business Owner's Policy

​Your business is a major investment, and so you want to protect it at all costs. Aside from the rental cost, you'll also spend money on equipment. Ensure the smooth operations of your business. But as a business owner, you should also be aware that there are things beyond your control.

Accidents like fire or natural disasters can happen at any time. When these incidents occur, you could face huge expenses that can drain your bank account. For your peace of mind, consider getting a business owner's policy (BOP). In this article, you will learn more about BOP and how your business can benefit from it.

What is BOP?
A business owner's policy offers two primary coverages—general liability and property. The former protects your business from liabilities, like customer injury and property damage, advertising injury, and product-related claims. The latter offers protection for commercial buildings and movable properties that you own. It also shoulders debris removal, loss of income, and pollution cleanup as part of a covered loss.

Businesses may experience interruptions, loss of income from catastrophe. That could disrupt their business operations. Injuries and damage are also covered. Faulty installations, defective products, and errors in service aftermath are also included.

A BOP does not cover employees, so you will need to get a separate worker's compensation policy. It also does not cover professional liability. Even auto insurance, workers' compensation, or health and disability insurance. It also does not cover professional services and vehicles. You may need to get separate insurance policies for these items.

Like other policies, it has exclusions that demand your awareness. For example, damage due to earthquakes is usually not covered by this type of policy. If you live in an earthquake-prone area, you need to ask for endorsement options. Get quotations from your insurance agency. 

How Much Does It Cost?
The price of the Business Owners Policy depends on certain factors. Including claims history, high coverage requirements, or high exposure to risk. These factors could increase the cost of the policy. Consult with an agent and find a customized package that works for your business.

Buying a business owner's policy isn't easy. Some providers will offer packages to you. Think long-term when making a decision. It is a major investment that can protect your business for the long term.

Final Thoughts 
You will make many tough decisions as a business owner, and one of them is finding ways to protect your business. Business owner's policies can do just that for you if you can find the right provider.

At CSIS Insurance Services, Inc., we put our clients first by offering them policies that they can afford. Having insurance is a necessity nowadays and we're here to help you out. 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.