Business Owner's Policy
A Business Owner’s Policy (BOP) is a bundled insurance package designed for small to medium-sized businesses. It typically combines general liability, property insurance, and business interruption insurance into one cost-effective plan. BOPs offer protection against common risks like accidents, property damage, theft, and loss of income during disruptions. Additional coverage options, such as professional liability, cyber liability, or workers' comp, can be added to meet specific business needs.
General Liability
This is one of the most common types of business insurance, covering a variety of risks such as property damage, bodily injury, or accidents that occur on your business premises. It protects against lawsuits and claims related to accidents or injuries caused by your business operations, products, or services.It protects against lawsuits and claims related to accidents or injuries caused by your business operations, products, or services.
Property Insurance
Property insurance covers damage to your business property, including buildings, equipment, inventory, and other assets. It can protect against damage caused by natural disasters (like fires, floods, or storms), theft, vandalism, and accidents. This coverage can be customized to fit your business’s specific needs (e.g., replacing inventory, repairing equipment).
Professional Liability (Errors and Omissions)
This insurance is designed for businesses that provide professional services (e.g., consultants, doctors, lawyers). It protects against claims that your services or advice caused financial harm to a client, whether due to negligence, errors, or omissions.
Cyber Liability
For businesses that handle sensitive information or operate online, cyber liability insurance provides protection against data breaches, hacking, or other cyber incidents. It can cover costs related to notification, legal fees, and potential lawsuits resulting from a data breach.
Worker's Compensation
This insurance covers employees who get injured or become ill while working. It helps with medical costs, rehabilitation, and lost wages. It also protects the business from lawsuits related to employee injuries.
