A Business Owner’s Policy (BOP) is recommended for most small and mid-sized businesses. Combining both property, commercial and general liability insurance, a BOP will cover your business in the event of such things as property damage, suspended operations, or lawsuits resulting from bodily injury or property damage for which your business may be liable. This package insurance policy may also cover loss of business income and extra expense resulting from a covered loss.
Typical BOP Policies Include
- Property insurance (covering buildings, equipment and inventory)
- Business interruption insurance (covering losses that cause you to shut operations or reduce production for a time). Business interruption insurance can provide money to offset lost profits or to pay continuing expenses (typically for up to a year for insured losses).
- Casualty or liability protection (covering harm done by the employees or products to other
people or their property)
- Crime insurance (covering loss of money or securities resulting from burglaries or robberies or destruction) as well as losses from employee theft or embezzlement.
- Liability insurance covering lawsuits arising from accidents (as when someone trips and falls on your business’s property) or when you sell a product that damages the customer’s property or you are accused of offenses such as slander, copyright or invasion of privacy.
- Vehicle coverage for rented or borrowed vehicles.
You need a personal insurance agent to sort it all out! Covington Insurance Agency is an independent insurance agency dedicated to finding you the comprehensive insurance coverage you need at a competitive price.
Contact us today for an insurance assessment and free personal insurance quote.