Business Owners Policy (BOP Insurance)

There are many benefits to having a BOP, including protection from financial losses in the event of a covered loss. It can also help you in reducing your stress. And this is because you will not have to worry about how you will pay for a covered loss if it happens. Furthermore, it can increase your credibility. Customers and clients are more likely to do business with a company that has insurance. And this is because insurance shows that you protect your business and its assets.

All businesses, regardless of size or industry, can benefit from having a BOP. However, some companies are more likely to need a BOP than others. These businesses include businesses with employees. Businesses with employees must have workers’ compensation insurance—moreover, interactions with high-value property. Businesses with high-value property, such as retail stores or restaurants, are more likely to need a BOP to protect their property from damage or theft. Lastly, businesses with high-risk activities need a BOP. Companies that engage in high-risk activities, such as construction or manufacturing, are more likely to need a BOP to protect themselves from liability claims.

The cost of a BOP will vary depending on the insurer, the policy you choose, and the risks your business faces. However, you can expect to pay anywhere from a few hundred dollars to a few thousand dollars annually for a BOP.

Contact an insurance agent or visit an insurance company’s website to get a BOP. When shopping for a BOP, compare rates and coverage from multiple insurers before deciding. Get a free quote with us today.