[video: an animated header displays the Insureon logo. Underneath it, a subheading displays the text: "What is a business owner's policy (BOP)?"]
MALE VOICEOVER: One of the most common commercial insurance policies, a business owner's policy or BOP is not only customizable to your unique business needs, it can often be more affordable than buying each coverage separately.
[video: an illustrated header displays the text: "A BOP is:"]
[video: Under above header, three bullet points display the text: "Affordable"; "Customizable"; "Great for small businesses"]
A BOP typically bundles general liability and commercial property insurance together, but you can also add endorsem*nts to meet your business's coverage needs. Let's take a look at why a BOP is a smart choice for small business owners.
[video: an illustrated header displays the text: "A business owner's policy bundles:"]
[video: Under above header, two bullet points display the text: "General liability insurance" and "Commercial property insurance"]
General liability insurance protects your business from third-party lawsuits over bodily injuries and property damage. Should a customer slip and fall in your store and sustain an injury, you are covered.
[video: an illustrated header displays the text: "General liability protects against:"]
[video: Under above header, three bullet points display the text: "Customer or client injuries"; "Third-party property damage"; "Advertising & personal injuries"]
Commercial property insurance compensates your business if your assets are lost or damaged by incidents, such as fire and theft.
[video: an illustrated header displays the text: "Commercial property covers:"]
[video: Under above header, three bullet points display the text: "Business-owned property"; "Supplies & equipment"; "Inventory"]
These two policies are often required by landlords when signing a commercial lease and are usually the first types of insurance that small business owners will purchase. By getting both policies in a BOP, you get the coverage you need at a lower cost than buying each of them separately.
A business owner's policy can also be tailored to meet your specific insurance needs, from business interruption insurance to data breach coverage to liquor liability insurance.
[video: an illustrated header displays the text: "A BOP can include endorsem*nts for:"]
[video: Under above header, four bullet points display the text: "Business interruption"; "Contractor's tools & equipment"; "Data breaches"; "And more..."]
To qualify for BOP savings, businesses typically must operate in a low-risk industry, have fewer than 100 employees, make less than $1 million in annual revenue, and maintain a small commercial space.
[video: an illustrated header displays the text: "To qualify for a BOP, you must have:"]
[video: Under above header, four bullet points display the text: "A lower-risk industry"; "Less than $1M in annual revenue"; "A small commercial space"; "Fewer than 100 employees"]
While it's not often required by law, a business owner's policy is a wise choice for small businesses that work with the public and own valuable business property.
Get free business owner's policy quotes with Insureon today.
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Click the link to get started.
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