BUSINESS OWNERS POLICY

What Does a Business Owners Policy (BOP) Cover?

 

Insurance companies selling business insurance offer policies that combine protection from all major property and liability risks in one package. (They also sell coverages separately.) One package purchased by small and mid-sized businesses is the business owners policy (BOP). Package policies are created for businesses that generally face the same kind and degree of risk. Larger companies might purchase a commercial package policy or customize their policies to meet the special risks they face.

 

BOP's Include:

 

Property insurance for buildings and contents owned by the company -- there are two different forms, standard and special, which provides more comprehensive coverage.

 

Business interruption insurance, which covers the loss of income resulting from a fire or other catastrophe that disrupts the operation of the business. It can also include the extra expense of operating out of a temporary location.

 

Liability protection, which covers your company's legal responsibility for the harm it may cause to others. This harm is a result of things that you and your employees do or fail to do in your business operations that may cause bodily injury or property damage due to defective products, faulty installations and errors in services provided.

BOP's do NOT cover professional liability, auto insurance, worker’s compensation or health and disability insurance. You'll need separate insurance policies to cover professional services, vehicles and your employees.

Seek Professional Guidance

 

Insurance agents and brokers, insurance counselors, and other trained financial consultants can help provide answers to detailed questions about a particular policy. These professionals are also helpful in selecting the right policy and the appropriate amount of coverage.

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Phone: 425.385.8930 | Fax: 425.385.8931

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Mill Creek, WA 98012

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Our knowledgeable team of professionals has a combined industry experience of over 50 years!

  Wingert Insurance Agency does not provide tax or legal advice. Please consult with a qualified advisor regarding your individual circumstances. Our associates are insurance licensed in our resident state of Washington, including many other states. Please contact the number above for further licensing information.
  This is not an offer or solicitation in any state where not properly licensed.

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