BOP

A Business Owners Policy (BOP) is an insurance package that includes property and liability coverages to protect every aspect of your business. A BOP is generally designed to cover the needs of small to medium sized companies and is not suitable for larger businesses. In todays society, every Business Owner is responsible for their actions. Negligence and inaction can often do as much harm and have the same consequences as wrongful or evil actions. Negligence is legally interpreted as a failure to exercise reasonable care. For example, if the Business Owner fails to properly train an employee on how to use a product safely, or simply doesn't take the proper care of malfunctions, and the customer is injured as a result, it is considered negligence and the Business Owner will be liable for any loss or damage occurred.

Every Business Owner is exposed to many different types of risks on a daily basis. If you own a restaurant, your chef could slip and fall in the kitchen. If you own a contracting business, your builders are exposed to heavy equipment, sharp objects, and towering heights. If you own an IT company, you could accidentally confuse some numbers causing a client to lose a lot of money. Protecting your business with the many risks that can threaten your business, will keep you in business, and most importantly, protect your personal assets.

Typically, a Business Owner’s Insurance Policy (BOP) will include the following coverages.
 

• Your property, including the building and the contents of the building (equipment, inventory, etc.), including costs of any buildout or tenant improvements.
• Business Interruption Insurance - If your business is unable to produce revenue due to halted operations, this type of coverage will offset lost profits or continue paying your owed expenses until your business is fully restored back to it’s normal operations.
• Casualty or Liability Protection - This coverage will protect your business against harm caused by your employees or products to other people. General Liability Insurance - Lawsuits are very common and judgments are astronomically high, protecting your business with liability insurance, will bring you peace of mind and assure you that your company along with it’s assets, are safe and sound.
• Commercial Auto Insurance - You may have one company vehicle or a fleet of vehicles. Commercial Auto Insurance will cover your Company’s registered vehicles against any accident’s that may arise.
• Any money or securities taken by burglary or theft and losses caused by dishonest acts of your employees.

If you would like an analysis of your Business’s current Insurance Policy/Coverages, or need to secure a Business Owner’s Insurance Policy right away, Prime Star Insurance Services is there to help. Our highly dedicated and experienced licensed Agent’s are standing by to help you find the best coverages available in the market so that you can feel secure that your business is protected against any potential risk that may possibly harm your business. Contact us today for your free consultation.