What Is A Business Owner's Policy?
A business owners policy (BOP) is a commercial insurance policy that combines both commercial property and liability insurance into one convenient package. Think of it like a combo meal from your favorite fast-food restaurant! Because it comes already bundled, you can often get it for a lower premium than if you bought each policy separately. This makes it an ideal choice for small to mid-size businesses.
What Does A BOP Cover?
Coverages that are typically included in a business owner's policy are:
Commercial Property
Commercial or business property insurance protects your building as well as the tools and equipment inside of it in the event of a loss from natural disasters, theft, or vandalism.
General Liability
General liability insurance helps to protect your business in the event of a lawsuit due to claims such as bodily injury, property damage, slander and more.
Business Income
General liability insurance helps to protect your business in the event of a lawsuit due to claims such as bodily injury, property damage, slander and more.
Who Needs A BOP?
Does your business…
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Operate out of a small office/commercial space
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Have less than 100 employees
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Bring in less than $1 million in annual revenue
Then a business owner’s policy may be a good fit for you and your business! From salons to restaurants to boutiques, a BOP is a great choice if you have a small to mid-size business.
How Much Does A BOP Cost?
A common misconception is that quality business insurance coverage is expensive. However, that’s not always the case! The national average cost of a business owner’s policy being around $57 per month. Of course, many factors influence the overall cost of a policy such as business size, industry, and policy limits. Working with a certified broker (like The DDA *hint hint*) can ensure that you get the best coverage for your budget!
So, ready to get your complimentary quote? Call us at 404-947-5010 or get the quoting process started yourself right below!