If you are a business owner or are planning to become one, then you are definitely interested in a Business Owner Policy, or BOP. This type of insurance offers all the basic protection your business needs in one convenient package.
What Is a Business Owner Policy?
First things first. Before we delve into specifics, let’s define what a BOP is.
A Business Owner Policy is an insurance package that bundles together protection from all the major property and liability risks that a business face.
BOPs are designed for small and medium-sized businesses. Your business is a good candidate for this type of protection if it has 100 employees or fewer and its revenue is up to $5 million.
However, keep in mind that some businesses, such as restaurants, may be excluded due to the unique risks they face, so they may need to purchase coverages separately.
What Does a Business Owners Policy Cover?
A BOP provides the three basic types of protection that most businesses need:
- Property Insurance. Protects your building or working space as well as any property your business owns, such as equipment or inventory.
- Liability Insurance. Offers protection in case someone sustains injuries at your business or by using your products or services.
- Business Interruption Insurance. Replaces lost revenue in case your business has to close due to fire, wind damage, or other covered losses.
How to Personalize Your Business Owner Policy?
While the three coverages outlined above are the basic protection that most businesses need, you can also personalize your BOP to get customized coverage that meets the unique needs of your organization.
Our experts at Delgado’s Insurance can help you explore other coverages for your business, including:
- Business vehicle insurance
- Workers compensation
- Cyber-risk insurance
- Flood and sewer backup
- And more!
More Tips and Ideas About Insurance
From tips to save on car insurance to the terms you need to make sense of home insurance, these are some previous posts you can check out for more tips and ideas.
- Use these four tips to save on Car Insurance
- 4 Ideas to lower your homeowners insurance premiums
- What are the most common life insurance riders?
- Renters Insurance: Everything you need to know
- Avoid these common Boat Insurance myths.
- 10 Essential Home Insurance terms
Contact the Experts at Delgado’s Insurance
Looking for a Business Owner Policy in Bloomington, Riverside, or anywhere in California? at Delgado’s Insurance, we can help you find a policy customized to your individual unique needs.
We have locations in Riverside, California, and Bloomington, California. Contact us today by telephone (951-361-0084, 909-421-9003), email, or through our social media accounts to get a free quote and learn more about our services.