Business Owner's Policy
In today's society, if you are a business owner it is absolutely mandatory to carry some form of business owner's insurance. A business owner’s policy (BOP) coverage includes property insurance for buildings and contents owned by the company, and liability protection to cover a company's legal responsibility for the harm it may cause to others.
There are two different types of business owner’s policies. The standard policy provides the basic property and liability coverage needed to protect a small business and can be augmented by optional coverage to provide the protection that a business needs to stay current with the changing environment. The special policy includes the standard policy basic coverages and additional coverages. The special policy provides a more comprehensive package for the small business. BOPs do not cover professional liability, auto insurance, workers compensation, or health and disability insurance. Businesses need separate insurance policies to cover professional services, vehicles, and their employees’ health/disability needs.