A business owner’s policy allows a company to cover major property and liability risks in a single package with premiums that are usually lower than they would be when purchasing each coverage individually. The components of a BOP are typically commercial general liability, commercial property insurance, and business income interruption insurance.
Businesses that need BOPs are most frequently small to mid-sized businesses with physical locations outside of a home. If you’re trying to decide if a BOP is right for your company, understanding the core coverages may help.
As with all forms of insurance, the finer details of your coverage and exclusions may vary depending on your carrier. It’s important to thoroughly discuss your needs with a professional to ensure you’re getting everything your busienss requires.
Many carriers offer supplemental coverage options to account for risks that may fall outside of standard BOP inclusions. Some examples include:
Business owner’s policies can provide broad coverage against many common types of risk, but they aren’t necessarily right for every business. If you’re considering whether your company could take advantage of a BOP, complete a quote request form today. You’ll get a free consultationwith a qualified insurance professional that can point you in the right direction. Bundle up, get protected, start saving.
Something many businesses don't know is that commercial insurance carriers have preferences for which types of businesses they insure.
The problem for most business owners is that they don't know which carrier is the best fit for their business, leading to high premiums or declined applications for coverage .
The 321 LaunchPad is connected to the largest network of commercial insurers available anywhere. We match your business with a qualified insurer so you get the right coverage for a fair price.