Protecting your assets is essential for any business owner. For many of our customers, one of the most convenient ways to do so is with a Business Owners Policy (commonly called a BOP), which is a combination of both Property Insurance and Liability Insurance coverage bundled into one convenient policy. The premium is generally less than it would be to purchase these coverages separately. A cost-effective way to get the coverage you need, a BOP has the flexibility to expand as your business grows and your needs change over time.

A Business Owners Policy can be tailored to meet your business’s needs by adding certain coverages such as:

  • Property insurance covers buildings, equipment and inventory.
  • Business interruption insurance covers accidents that cause you to shut operations or reduce production. Business interruption insurance can restore lost profits or pay continuing expenses, typically for up to a year for insured losses.
  • Crime insurance covers loss of money or securities resulting from burglaries or robberies or destruction as well as losses from employee theft or embezzlement.
  • Cyber Liability covers losses related to various cyber risk exposures, such as ransomware attacks.
  • Liability insurance covers lawsuits arising from accidents (as when someone trips and falls on your business’s property) or when you sell a product that damages the customer’s property or you are accused of offenses such as slander, copyright or invasion of privacy.

This convenient package makes the purchase process easy because everything is included, and the coverage is provided at a reasonable cost.

Why is Business Owners Insurance Important?

Are you aware of the most probable risks to your business? If you were to be sued, how would you defend yourself? Do you know what coverage you have for your business property and for your different liabilities? Would you be able to continue to pay your employees and fixed costs while you rebuild after a disaster?

Having the right coverage could mean the difference between keeping your business moving forward and putting your assets, income and livelihood at risk.

Simple, Convenient and Affordable Coverage

The convenience of a Business Owner’s Policy makes it a great fit for small businesses. With the ability to simplify insurance and add more coverage without purchasing a separate policy, the BOP can be a very attractive option.

Is a BOP right for your business? Give our professionals at Danskin Agency the opportunity to review your business insurance needs, and we will help you find the right coverage solution at the lowest cost

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