A Business Owner Policy (BOP) is generally targeted to small- and mid-size businesses and offers protection for all major property and liability risks in one insurance package. This type of policy meets the basic coverages required by a business owner in one bundle. However, it usually costs less than the total cost of the individual coverages.
Property insurance for buildings and contents owned by the company — there are two different forms, standard and special, which provides more comprehensive coverage.
Covered Building Property
Covered Business Personal Property (BPP)
Business interruption insurance, which covers the loss of income resulting from a fire or other catastrophe that disrupts the operation of the business. It can also include the extra expense of operating out of a temporary location.
Liability protection, which covers your company’s legal responsibility for the harm it may cause to others. This harm is a result of things that you and your employees do or fail to do in your business operations that may cause bodily injury or property damage due to defective products, faulty installations and errors in services provided.
Other Business Insurance
Policies to Consider
You’ll need separate insurance policies to cover professional services, vehicles and your employees.
T. Hudson Risk Advisors can provide your business with a competitive quote from a wide range of carriers to find the right fit for your business. Contact us to find out more about Business Owners Policies for your business.