Happiness is a BOP

Man standing outside bakery/cafeAlmost everyone knows about Homeowners and Personal Auto policies. The success with these policies spurred the development of a similar package policy: the Businessowners Policy (BOP). This policy is intended for main street businesses looking for an affordable way to obtain broad coverage. A BOP combines both property and liability insurance to cover your business in the event of such things as property damage, theft, suspended operations, or lawsuits resulting from bodily injury or property damage to others.

In addition, you can always purchase optional coverage that allows you to tailor a policy that meets the unique needs of your business today and as it grows.

Fitting an insurance policy to a business depends on a number of factors. This includes which insurance companies are in the market for what types of risks and restrictions. While Business Owners Policies (BOP) are fine packages of coverage, you haven’t missed out if your business has a Commercial Package Policy (CPP). A CPP is the right coverage for many businesses. An insurance agent can determine what your business is eligible for, and whether you should have a BOP.

Business property coverage can include:

  • Property you own, lease or rent, including things like buildings, equipment, inventory, furniture and fixtures. Whether a fire destroyed your shop or your equipment broke down due to a power surge, this insurance can help replace your property and cover payroll and lost income if your business was unable to operate.

Business general liability coverage can include:

  • Protection for your business in the event your business is responsible for causing harm to a person and/or damage to property. Can cover costs related to litigation and court judgments if a customer or other third party files suit against you or your employees.

You can always enhance your protection with other coverage options such as Commercial Auto, Inland Marine, Umbrella and Workers Compensation.

PHD Insurance Brokers has been offering businesses BOPs for 50 years now. With us looking after your business’ insurance portfolio, you’ll have the protection you need to help get back in business quickly after a loss. If you have questions about your BOP policy or would like to purchase a BOP policy for your business, call us today at 1-800-640-4743. You can also request more information online by Clicking Here.