Call Us 800-677-9180 ☰ ˟
Logo
Client Portal Call Us 800-677-9180 to get your personalized insurance quote
  • Our Agency
    • About
    • Our Location
    • Our Carriers
    • Our Reviews
    • Our Staff
  • Products
    • Auto InsuranceImage of right arrow
      • Liability Coverage
      • Comprehensive Coverage
      • Collision Coverage
      • Diminishing Deductible
      • Accident Forgiveness
      • Roadside Assistance
      • Specialty Auto Insurance
      • 24-Hour Customer Service
      • Towing
      • Rental Reimbursement
      • Medical Payments Coverage
    • Home InsuranceImage of right arrow
      • Property Insurance
      • Homeowners Liability
      • Renters Insurance
      • Condo Insurance
      • Mobile Home Insurance
      • Landlords Insurance
    • Life InsuranceImage of right arrow
      • Individual Life Insurance
      • Group Life Insurance
      • Disability Insurance
      • Second-To-Die Policy
    • Health InsuranceImage of right arrow
      • Group Health Insurance
      • Dental Coverage
      • Vision Coverage
      • Supplemental Insurance
      • Medical Expense Insurance
      • Child Health Insurance
      • Travel Health Insurance
      • Prescription Insurance
      • HSAs
    • Cyber Liability Insurance
    • Recreational Vehicle InsuranceImage of right arrow
      • Boat Insurance
      • Motorcycle Insurance
      • Motorhome Insurance
      • ATV Insurance
      • Snowmobile Insurance
    • Coverage for Your BusinessImage of right arrow
      • Bonds
      • Business Owners Policy (BOP)
      • Commercial Auto Insurance
      • Commercial General Liability
      • Commercial Property Insurance
      • Commercial Umbrella Insurance
      • Crime Insurance
      • Fidelity Bonds
      • Inland Marine Insurance
      • Professional Liability
      • Surety Bonds
      • Workers Compensation
    • Coverage for Your EmployeesImage of right arrow
      • Group Health Insurance
      • Disability Insurance
      • Individual Life Insurance
    • Farm InsuranceImage of right arrow
      • Crop Insurance
      • Farm Owners Insurance
      • Farm Livestock Insurance
      • Farm Equipment Insurance
      • Farm Dwelling Insurance
      • Farm Structures Insurance
      • Farm Auto Insurance
      • Farm Umbrella Insurance
      • Farm Liability Insurance
  • Get A Quote
    • Auto Insurance
    • Business Insurance
    • Employee Benefits
    • Farm Insurance
    • Homeowners Insurance
    • Recreational Vehicle Insurance
  • Resources
    • Refer a friend
    • Important Links
    • Insurance Glossary
    • Privacy Policy
  • Contact
Home > Blog > Ways to Get the Most from Your Business Owners Policy
TUESDAY, NOVEMBER 1, 2022

Ways to Get the Most from Your Business Owners Policy

A business owners policy (BOP) is a great way for small businesses to save money on important coverages. It combines property coverage and general liability into one affordable policy, but these coverages don’t include every danger that may face your business. 

What Does a BOP Cover? 
A standard BOP covers: people shaking hands

  • General Liability: General liability insurance provides compensation if a third party suffers from bodily injury or property damage on the business property. It can help with payments for medical expenses and possible legal fees. 
  • Property Damage: Property damage offers compensation if your business’ property and its contents are damaged due to fire, lightning, smoke, theft, vandalism and more. 
  • Business Interruption Insurance: Some accidents or environmental emergencies make it impossible for the business to operate. In this case, business interruption insurance provides compensation for income lost during the time the business is inoperable. It may also help with the cost of temporarily moving the operation elsewhere. 

Generally, BOPs are suited for small businesses in low-risk industries, such as restaurants, retail stores, wholesalers, offices and apartment buildings. 

A BOP is somewhat flexible with the coverage it can offer. You can tailor a BOP for your business depending on your specific needs. Optional coverages you can add include: 

  • Professional Liability: While general liability covers non-professional negligent acts, professional liability covers professional negligent acts. This insurance provides coverage if a claim is filed due to an act of professional negligence that results in monetary loss for their client. This insurance is important for lawyers, medical professionals, accountants, financial advisers and more. 
  • Data Breach Coverage: If a data breach occurs, data breach insurance can help cover the cost of hiring a public relations consultant, legal fees that arise from claims due to the breach, and extortion payments. 
  • Crime Coverage: Most insurance excludes criminal acts, so crime insurance provides coverage if an employee or partner steals money from the company. 
  • Cyber Liability: Cyber liability helps in instances where personal client information is lost or stolen due to a cyber attack or other incident. This insurance is crucial for a lot of businesses, since most information is held online now. 
  • Inland Marine Insurance: A commercial auto insurance policy won’t always cover expensive equipment while it’s being transported. Inland marine insurance provides coverage for loss or damage that occurs to equipment in transit. 
  • Umbrella Insurance: This insurance covers gaps left over by your other liability insurance policies. 
Posted 4:17 PM

Tags: bop insurance
Share |


No Comments


Post a Comment
Required
Required (Not Displayed)
Required


All comments are moderated and stripped of HTML.

NOTICE: This blog and website are made available by the publisher for educational and informational purposes only. It is not be used as a substitute for competent insurance, legal, or tax advice from a licensed professional in your state. By using this blog site you understand that there is no broker client relationship between you and the blog and website publisher.
Blog Archive
  • 2023
  • 2022
  • 2021

  • life insurance(2)
  • home insurance(2)
  • boat insurance(2)
  • rv insurance(2)
  • bop insurance(2)
  • recreational vehicle insurance(2)
  • commercial auto insurance(2)
  • homeowners insurance(1)
  • cyber liability insurance(1)
  • general liability insurance(1)
  • umbrella insurance(1)
  • auto insurance(1)
  • flood insurance(1)
  • workers compensation insurance(1)
  • classic auto insurance(1)

View Mobile Version
Contact us
800-677-9180 2421 Production Dr, Ste 203 | Indianapolis, IN 46242

At Merritt Hall Insurance, our mission is to help you insure yourself and your belongings at the lowest cost, quickly and easily!

Quick Links
Home Our Products Customer Service Payment Options Report a Claim About Us Our Carriers Partners Blog Contact Us
Location
2421 Production Dr, Ste 203
Indianapolis, IN 46242
Phone: 317-247-7737
Toll-Free: 800-677-9180



Facebook Icon Google Icon


© Copyright. All rights reserved.
Powered by Insurance Website Builder