business owner in a manufacturing facility

Why small business owners should consider a BOP.

As a small business owner, you do what you can to protect your business. For many, getting the right amount of insurance is critical. Too much insurance and you feel like you’re wasting money, too little insurance and you leave your business underinsured and exposed to risk. What can help small business owners is to secure a Business Owner’s Policy (BOP), which provides adequate coverage at an appropriate price.

A BOP is a specific type of commercial insurance designed for small businesses that offers protection against property damage and injury liability. It is a combination of coverages wrapped up in one policy and is often cheaper than purchasing each coverage separately. As a business owner, you might find that your BOP is easier to deal with from both a logistical and time perspective. You work with the same provider for all included coverages and have fewer documents to track down.

Exactly what is covered in a business owner’s policy depends on if and how you customize it to suit your business’s unique needs. Typically, standard coverage offers the following:

  • General liability insurance – Offers coverage for third parties who experience harm to themselves or their property because of something you or your workers did or failed to do. This coverage can also cover advertising injury, which deals with offenses like libel and copyright infringement.
  • Commercial property insurance – Protects the building that your business rents or owns, as well as the equipment, furniture, inventory, and machinery inside of it.
  • Business interruption coverage – Protects your business when some event, such as a storm, temporarily disrupts your ability to sell or interact with customers or interested parties. It can replace the money you would have earned and provide funds to operate in a temporary location.

Although a BOP is a convenient insurance option for small and mid-sized businesses, it does not cover professional liability, auto insurance, and workers’ compensation. For such coverage, you will need to take out separate insurance policies.

Interested in finding the right Business Owner’s Policy for your company?  Then turn to the experts at Sausman Insurance in Mifflintown, Millersburg, and Lewistown, Pennsylvania.  Our team is ready to assist you with all your insurance needs.  Contact us to get started today.