Business insurance is complicated because of the many issues involved in creating coverage for business owners. One solution is the Business Owners Policy, or BOP, that combines protection from all the areas of risks and liabilities in one package. The JC Demo Insurance Group in Matthews, NC can help you determine the level of coverage our business needs. You can get the whole package or any part of the package that you decide you need.
The policy starts with coverage for the building and contents. If you don’t own the building, you would still need contents coverage. There is also specialized coverage for certain types of content coverage.
The BOP also includes business interruption coverage which covers the loss of income if you are unable to operate your business. If there is a fire or some other catastrophe that stops your business from operating, you would have your income covered. It can also cover the costs of operating from another location.
A third part of the package is liability coverage. This would be a basic liability policy covering things like accidents where people get hurt o your property. It would also cover you for any liability from a product you made that was used off the property.
A business owners policy does not cover auto insurance, workers compensation or health insurance for employees. Those would have to be bought separately but could be included in your overall portfolio of coverages.
Bundling your coverages like this can save you some money. They also offer you a lot of flexibility as you can mix and match portions to your needs. Stop by or call the JC Demo Insurance Group in Matthews, NC to learn more about getting insurance for your business. We can help you understand all your options and help you get the best insurance for your situation.