Why Small Businesses Need a Business Owners Policy

​Having a small business faces many challenges. As a neophyte, one is subject to different kinds of liability such as financial losses, property losses, injuries, lost income, and the like. He should be a risk-taker. In the fast pacing change of the modern world, one should be wiser specifically in putting up a business. That is why there is a need to establish a business owners’ policy. It is a combined convenient package protection for properties and liabilities that may help a business in securing its safety. It is also intended for small businesses. To learn more about Business Owners Policy or BOP, here are the three benefits of it.

​Easiest Way to Achieve Broad Coverage
The Business Owners Policy is for small businesses that offer a broad coverage. This policy includes optional coverage that entails data breach.  It is one of the most popular ones because if the business stores handle private client information, he should add coverage for protection against data breach. This way, the business can also protect its credibility to its clients. Another optional coverage is the liability errors or omission insurance. It is important when business owners provide services. Data breach is wide-ranging and can cover the data internationally.
 
Utmost Protection from Unforeseen Events
Aside from general liability insurance, one must ensure to protect his business from unexpected events such as property damage, bodily injuries and medical expenses, lost income and the like. BOP covers properties such as furniture and fixture and the building itself. On the other hand, if the customer got an accident in your store, you are liable because he might sue you for bodily injury. Also, business owners policy covers protection for events for lost income such as fire or vandalism. It can assure the business to provide the rent, payroll, and other expenses.
 
Most Convenient and Affordable Way to Provide the Needs of the Small Business
Small business owners should purchase BOP because it offers full package protection that the business needs – general and optional coverage. The physical location of the company is prone to property damage. It may also be under the risk of a lawsuit and covers unexpected financial losses. Buying of BOP is cheaper than general liability insurance.  Thus, it may be in favor and advantageous for small businesses to have.
 
An insurance policy is critical to every business, especially if there is a higher risk of unexpected claims. At CSIS Insurance Services, Inc., we do our best in making sure that our clients are well-protected with affordable and comprehensive policies. To learn more about how we can help you, please contact our agency at (888) 501-2747 or Click Here to request a free quote.