Business owner’s policy covers general liability insurance and commercial property insurance. Also, a BOP costs less than buying policies separately, allowing you to protect your business without spending so much. Moreover, although states don’t require a BOP, purchasing a plan is a smart decision.
If you own a small business or rent a workspace, you should acquire a business owner’s policy (BOP).
The Basics of Business Owner’s Policy
Generally, businesses need general liability and commercial property insurance. These policies are especially beneficial to those who rent or own workspaces, including an office or a commercial space. Moreover, most client contracts require general liability coverage.
Aside from this, BOPs protect business owners against financial loss resulting from third-party accidents and incidents like fire and theft. Additionally, a BOP is specifically designed for small businesses. If your business qualifies, you don’t only save money but also gain coverage for common claims.
What Does a BOP Cover?
As mentioned, a business owner’s policy covers general liability and commercial property insurance.
Is Your Business Qualified for a BOP?
Small businesses are generally qualified for a BOP. However, there are certain qualifications a business must meet. Typically, insurance agencies require businesses to have the following:
Acquiring a BOP for your small business doesn’t only protect you from financial losses. It also helps you grow your business worry-free.
At Howe Insurance Brokerage, we aim to provide comprehensive insurance policies that make your life easier. We want to help you get the insurance that fits your needs. You can get more information about our products and services by calling our agency at (435) 674-8771. Get your free quote today by CLICKING HERE.