Your standard business needs a variety of liability and property insurance. Depending on your risks, you may have to purchase these policies individually or you may qualify for a BOP. BOPs provide most of this insurance coverage but under one package which makes it more affordable for businesses.
Your coverage under a BOP can include:
- Property: The building and its contents.
- Property of others: In case your business provides a service on property like a repair shop.
- Business interruption: Lost income and employee salaries while you rebuild after a disaster.
- General liability: For any time that you might be sued.
- Employee dishonesty coverage: In case an employee steals from you.
- Mechanical/machinery difficulties.
- Front store window replacement.
- Hired and non-owned autos (i.e., you don’t own a company car but employees are still driving for the job).
- Loss of valuable papers.