One way of protecting your growing business and property is to get a Business Owner’s Policy. BOP is a better business insurance for the reason that it covers both general liability and property insurance.
General Liability Insurance covers the company's legal accountability for the damages it may cause to others. These are damages that result out of things that you and your employees do within your business premises that may cause bodily injury or property damage caused by defective products, and inaccuracies in providing service.
The Property Insurance is for buildings and properties owned by the company. If a certain catastrophe causes physical damages to your business properties, BOP will help pay the rehabilitation or replacement of the destroyed property. Other BOP has Business interruption insurance, which covers the loss of income caused by a fire, flood, or other natural disasters that interrupt the business’ operations and transactions.
Business Owners Insurance
With Business Owners Insurance, you are not only establishing financial back-up for your business, but you are also creating a worry-free state of mind that your business will be protected. Whether it’s a lawsuit or rehabilitating property, Business Owner’s Policy is essential to protect yourself and your business against possible business loss.
Why You Should Get Policy Bundle for Your Business
Purchasing a policy bundle will be more affordable and practical than paying for General Liability and Property Insurance separately. Typically, the cost of a BOP is based on the number of employees, annual revenues, and replacement costs of the building, equipment, and its content. Most business insurance providers offer a 15 to 20% discount.
Eligible businesses can file an application for a Premium Business Owner’s Policy depending on the business’s location, size, and potential risks. Premium BOP’s can range from $500 to $3,500 per year.
There is no harm investing on a good business policy or insurance. In fact, as a business owner, it will show how you truly value not only your business but also your employees and your clients. Being proactive is an effective way to avoid business bankruptcy. A satisfied customer is the best business strategy of all.
At Commercial Insurance Pros, we do our best in making sure that our clients are well-protected with affordable and comprehensive policies. To learn more about how we can help you, please contact our agency at (949) 453-7400 or Click Here to request a free quote.