A business owner's policy, or BOP, is well worth the money considering all of the advantages you get with one easy-to-use policy. As a business owner, it is up to you to protect your bottom line. With a business owner's policy, you can protect every aspect of your investment without a lot of extra paperwork. Working with the
experts will help you ensure you have all of the coverage you need to keep your business and its employees as secure as possible.
Coverage for Your Property
A business owner's policy covers the physical property owned by your business. This means any buildings, equipment, office supplies, or tools that are associated with your business are protected from various types of damage, including wind, fire, vandalism, smoke, and explosions.
Liability Coverage
Liability coverage is a must, especially if you have vendors or guests who visit your company regularly. Liability extends not only to defective products and workmanship but also to injuries a person may receive while on your property. This can include slip and fall accidents, bumping into something, tripping hazards, or any other type of liability.
Interruption of Operations
A business owner's policy is especially beneficial if you experience a drop in your income due to an interruption of operations within your company. This can result from a fire, vandalism, or any other type of activity that prevents your business from operating in its usual manner. In most cases, interruptions don't last very long. However, those issues that disrupt your day-to-day operations for longer than seven days can have a devastating impact on your income.
Loss of Inventory
Another benefit of a good business owner's policy is that it covers your inventory. Inventory can be lost or damaged in several ways. It can be stolen or lost due to a misplaced shipment. It can also be damaged or vandalized. Damage can occur when it is being shipped to you or shipped from you to a customer. While this type of policy will cover certain types of theft, shoplifting is often excluded from this type of policy.
Coverage for Criminal Activity
You will also receive coverage for any damage you incur during criminal acts that take place on your property. Thefts and vandalism are the most common types of crime that businesses face. You may also have to worry about damage to your building if someone tries to break into your property. This is why it is good to have a security system with surveillance cameras in place.
Owning a business means you have to stay on top of every aspect of your business. This includes ensuring that you have a business owner's policy that will fully protect your investment no matter what type of situation you may face. At Club Agency, our agents can help you solve all of your business policy concerns.
Contact us today to learn more!
