Benefits of a Business Owners Policy (BOP)
As a business owner, there is no shortage of things that you need to manage on a daily basis. Whether it’s supervising employees, connecting with new clients or anything in between, and there are also a lot of unpredictable situations happened and it may destroy your business.
A business owners policy (BOP) is a good option for small and midsized businesses, and it can offer you plenty of advantages, including:
Broad coverage—BOPs cast a wide net of protection by bundling a number of different types of coverage
into one plan. In general, BOPs provide commercial property, general liability and business interruption
coverage in one policy.
Cost savings—Every dollar counts for small and midsized businesses, and BOPs can provide cost savings by combining the aforementioned policies so that you don’t have to go out and purchase each one separately.
Coverage for medical expenses—CGL policies will provide protection for your company if a nonemployee is injured on your premises or in an incident related to your operations. Coverage for medical payments can be triggered without legal action and allows for smaller medical claims to be settled quickly and without litigation.
Customization—While BOPs cover multiple types of risk for your business, you don’t need to worry about
buying something that you don’t need. These policies can be tailored to fit your business’s needs with
additional coverage for risks such as cyber liability, equipment breakdown, personal and advertising injury, and more.
Learn More About Business Owners Policy (BOP) Insurance
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