There are many aspects to running a company that business owners need to keep in mind. Everything needs to be taken into consideration - from keeping track of receipts to ensuring that product supplies remain fully stocked. One aspect, though, that should not be overlooked is a comprehensive insurance policy.
Business Owner's Policy
Business Owner’s Policies (BOPs) provide comprehensive coverage against the risks you’re most likely to face by combining multiple insurance policies into one, affordable coverage. These types of “package policies” offer a strong defense against a multitude of claims scenarios that could happen to any company.
BOP’s typically combine commercial property coverage with general liability protection. With a business owner’s policy, you can have peace-of-mind that your business is protected against common pitfalls such as injuries, fire, theft, and damage.
General liability provides coverage against the high cost of lawsuits from injuries or damages to other people. If a customer slips in your store, general liability is there to cover the costs of medical expenses and even legal fees.
Commercial property insurance protects your business property, whether you rent or own, as well as your business assets inside. Your inventory and assets are as protected from fire, theft, vandalism, and damage as the building itself.