What a Business Owner’s Policy Covers

What a Business Owner’s Policy Covers

What a Business Owner’s Policy Covers

Here are the coverages included in a standard business owner’s policy.

If you are running your own business, you know how important it is to have the right insurance protections in place.  However, with all the different options out there, it can be difficult to decide what coverages you need.  That’s why a business owner’s policy (BOP) is such an attractive option.  A BOP combines some of the most essential insurance coverages into a single policy.  But what exactly does a BOP cover?  Here are some of the basic types of insurance covered by a BOP.

Commercial Property Coverage

Commercial property coverage is included in most standard BOPs.  This type of coverage covers physical losses or damages to your company’s building, equipment, supplies, inventory, and so on.  This type of coverage kicks in when your business suffers damages from theft, vandalism, fire, or other extreme weather events.  In some cases, commercial property coverage even extends to your business’s important documents and files.

Business Interruption Coverage

This type of coverage kicks in when some kind of disaster or emergency situation makes it impossible to continue normal business operations.  Business interruption coverage will cover the profits lost due to your business’s inability to function regularly.

Commercial General Liability Coverage

Finally, BOPs include general liability insurance for your business.  This type of coverage comes into play when your business is found liable for causing bodily injury, personal injury, or property damage.  Not only will this insurance cover the costs of medical treatment or repairs, but it will also cover your business’s expenses if a claim turns into a lawsuit.

These are the main coverages included in a BOP.  If you would like more information about getting your business the insurance it needs, contact the experts at Club Agency Insurance Brokerage in Garden City, New York.  Our dedicated professionals are ready to assist you with all your insurance needs.

COVID-19 Update:

At RMS and associated firms, business continues as usual. Our staff is remote-capable and available to handle all partners, brokers, and insureds at the present time. Contact us today!Executive Order for Policyholder Payments