Business Owners Policy (BOP) is an insurance package aimed for small- to medium-sized businesses. It is a bundled policy offered for a low price. If your business has specific needs, there are optional coverages available.
So what does a typical BOP offer?
Business interruption coverage offers protection from temporary shutdown due to a covered loss. It provides financial coverage for loss of income, as well as the expenses incurred for resuming business.
Professional Liability Coverage
Professional liability coverage offers protection to those who are in the professional and service industries. It covers the total amount of legal fees against any claim of negligence made by clients, as well as the reputational damages caused by the lawsuit.
General Liability Coverage
General liability coverage offers financial protection for your operations within your premises. It covers the following:
There are coverages available for identity fraud, and they include the following:
Wind or Hail Damage Coverage
There is additional coverage for damages caused by windstorms or hail. This coverage is recommended for those living in areas prone to windstorms or hail. But even if you live in low-risk areas, it wouldn’t hurt you to get extra coverage for something that can happen anytime. We can’t predict the force of nature, right?
Expenses can scare small business owners - especially when the business is their source of income. While commercial insurance may cost much, you have to think about your financial safety in the future. Getting insured is a good idea if you want to ensure business continuity. Bear in mind that the benefit of insurance always outweighs the risks.
Business owners’ package insurance policies are tailored for you to save money on business insurance. At Wellcovered Insurance, we can personalize your insurance according to the needs of your business. Call us at (386) 218-4951 or visit us at our office today and get free insurance quotes!