Who needs a business owners policy?
The unexpected happen all the time, in all small businesses, whether you're a new venture, an independent contractor, or a restaurant owner.
If you have:
any chance of being sued (e.g. a customer slipping)
assets that could be taken or damaged (equipment, cash, inventory, digital, and more)
A BOP might help cover claims from:
- bodily injury
What is typically included in a BOP?
A business owners policy (BOP) packages important coverages together in a convenient way. A policy might include:
general liability -- when someone sues your business for causing harm, cover it and cover the defense
property -- for non-real property your business owns, rents, or leases (buildings, equipment, inventory)
business income and extra expense -- the unexpected happen, and in case your business has a sudden suspension in income, fixed costs like payroll and rent remain financial obligations
and more, depending on your situation
Simply put, it is insurance designed to protect your business and usually comes in a "package" policy of property and liability insurance. We can tailor it to your needs, whether you are a new venture with 1 employee or you have hundreds of employees. There are different types of insurance thus depending on your particular business.