What is a Business Owners Policy
A business owner’s policy is known as “BOP” for short. It’s a combination policy that brings together two types of coverages. Business Owners Policy “BOP,” combines business property and business liability insurance into one convenient policy. A BOP is a more affordable way to protect your business instead of purchasing them separately. We will work with you to create a policy with coverage that protects your business from any type of risks.
A Business Owners Policy Includes
A business owners policy includes three main components, general liability insurance, commercial property insurance, and business interruption.
• General liability: covers claims and expenses due to negligence which includes personal injury and property damage.
• Property: provides coverage for leased or owned buildings, equipment, and inventory in the event of a loss.
• Business Interruption: often referred to as loss of income or business income coverage. Due to an event that interrupts your ability to operate your business. It will cover your bills and payroll for employees when your affected by a loss of income.
Contact Lancaster Insurance Center for your business owner’s policy, we’re here to help!