Business Owners’ Policy (BOP) in Columbus OH, Cleveland OH and Cincinnati OH
Appropriate business insurance can help provide critical financial protection if an unexpected event triggers an insurance claim. A business owners’ policy (BOP) may provide the insurance coverage you need at a discount for eligible businesses.
Contact ProtectALL Insurance in Dublin, Ohio, to find out whether your business may qualify to purchase a BOP.
What Is a Business Owners Policy?
A BOP is several insurance policies designed to meet the basic insurance needs of many small businesses. These bundled coverages may be provided at a discount.
While a BOP may be a good fit for your organization, not every business can purchase this group of policies. Insurers may provide BOP access to companies with fewer than 100 employees and a maximum of $5 million in annual revenue. BOP eligibility is set by insurers and may vary.
What Is Covered Under a Business Owner’s Policy?
A BOP typically includes three core policies:
- Property insurance helps pay for damage of business-owned property and equipment.
- Liability insurance helps pay for third-party claims for which your business is legally liable.
- Business interruption insurance helps cover everyday bills if your company must shut down to allow for repairs after a covered event.
Your small business may need more coverage than a BOP provides. Depending on your situation, your agent may recommend adding the following coverages:
- Commercial auto insurance
- Employment practices liability insurance
- Cyber liability insurance
- Worker’s compensation insurance
- Equipment breakdown insurance
Get the Business Insurance You Need
The agents at ProtectALL Insurance can help you decide whether a BOP may meet your company’s needs. Contact us today to learn more about your business insurance options and get a quote.