Business Owners Policy

Business owners policy also known as (BOP) caters numerous businesses. Getting a separate business insurance policy for each unforeseen event can be expensive. Thus, premium financial institutes of the country offer package policies. A typical Business Owner Policy (BOP) combines Liability Insurance with Property Insurance. Besides covering the expenses of the lost or damaged assets, the insurance will also cover legal expenses (lawsuit fees, settlement costs, lawyer payment, etc.) So, this type of business insurance is ideal for large businesses.

However, as a business owner, you should go ahead or at least consider getting a BOP if any of the following applies to you:

• If you conduct your business right from your home or even outside, you should consider a BOP.
• Your line of business requires a physical location such as an office, store or other building types.
• Presence of any assets is required in the business location, which one can steal or damage such as registers, cash, inventory, other equipment, and so on.
• If your work place is open to the clients, a BOP would keep you safe in situations such as a client suing you due to injury.