Combined Coverage for Special Advantages.

Business owners have many insurance policies to choose from to protect them from the unexpected. Without proper insurance, business owners would have to pay for costly claims out of pocket. One type of insurance to consider is a business owners policy. 

What Is Business Owners Policy Insurance? 
A business owners policy (BOP) is a type of commercial insurance policy that combines several types of coverage into one convenient package. It is designed to provide small and medium-sized businesses with coverage against common risks. 

BOP insurance may be a cost-effective option for small and medium-sized businesses that want to protect themselves against various potential risks. By bundling several types of coverage together, you may save money on your insurance premiums compared to buying each coverage type separately.  

What Is Included in a Business Owner’s Policy? 
A BOP typically includes property insurance to protect your business’s physical assets, liability insurance to cover legal costs and damages resulting from claims of injury or property damage from third parties and business interruption insurance to help you cover income if your business is unable to operate temporarily due to a covered event. Depending on your business’s specific needs and your insurer, you may be able to tailor your BOP to include additional coverage options such as cyber liability, data breach or employment practices liability insurance. 

Who Needs a Business Owners Policy? 
A BOP is designed for small and medium-sized businesses across various industries. Any business with physical assets, such as a storefront, office, or equipment, or at risk of liability claims could benefit from a BOP. 

Some examples of businesses that may benefit from a BOP include the following: 

• Retail stores
• Restaurants
• Professional service providers, such as doctors, lawyers and accountants
• Technology companies
• Contractors and construction businesses
• Wholesalers
• Nonprofit organizations 

 
It’s important to note that not all businesses are eligible for a BOP. For example, organizations operating in high-risk industries may need specialized insurance policies and may not qualify for a BOP. 

Business Owners Policy Quote in Indianapolis 
If you’re unsure whether your business qualifies for or would benefit from a BOP, it’s a good idea to speak with an insurance provider. They can help you assess risks, answer insurance questions and recommend appropriate coverage. Contact the professionals at Merritt-Hall Insurance to discuss your insurance options.