Starting or running a business can be overwhelming, especially when it comes to choosing insurance policies. Two of the most common types of insurance policies for businesses are Business Owners Policy (BOP) and General Liability Insurance (GL). In this post, we’ll break down the differences between BOP and GL insurance policies to help you make an informed decision about which policy best suits your business.
What is General Liability Insurance (GL)?
GL insurance is a policy that covers a business against claims of bodily injury, property damage, or personal injury as well as advertising injury and copyright infringement claims.
This policy protects businesses against non-employee claims that may result from negligence or accidents on their premises or as a result of their operations,
What is Business Owners Policy (BOP)?
A BOP is a comprehensive insurance policy for small and medium-sized businesses. It combines several insurance policies, including liability insurance, property insurance, and business interruption insurance, into one policy.
One of the reasons business owners prefer BOP policies is because they are typically more affordable than purchasing each of these coverages separately.
What’s the difference between BOP and GL insurance?
While both BOP and GL insurance offer protection to businesses, there are some differences between them.
Think of BOPs as General Liability Insurance policies with added protections. As the name suggests, GL only provides liability coverage. In other words, it only offers protection for the damage your business is responsible for.
BOPs, on the other hand, offer liability protection plus coverage against damage to your business or injuries to your employees.
Which policy should you choose?
The policy you need depends on your business needs. For example, if your business has a physical location and you want to protect your assets, BOP may be the best choice for you because it includes property insurance.
Choosing the right insurance policy for your business can be confusing, but it is essential. Working with an insurance agent that specializes in commercial insurance can make a huge difference when it comes to navigating the complexities of insurance policies.
Delgado’s Insurance: High-Quality Insurance in California
If you need dependable and affordable insurance in the Golden State, look no further than Delgado’s Insurance.
We have locations in Riverside, California, and Bloomington, California. Get in touch today by telephone (951-361-0084, 909-421-9003), email (mail@delgadosinsurance.com), or through our social media accounts (Facebook, Twitter)!
