Business income is automatically included in the business owners policy. Both personal effects and valuable documents are automatically included in coverage extensions. Employee dishonesty is only available as optional coverage. When considering a BOP, keep in mind that it often makes sense to choose coverage specific to your industry and that some coverages aren't available in a BOP, such as commercial cars, workers' compensation, and employee benefits.
Every business is exposed to lost revenue, liabilities, and additional expenses, but not every business is exposed to workers' compensation. A business owners policy (BOP) combines several insurance coverages, such as commercial property insurance, general liability, and business income, into one practical policy. The guarantee of public service coverage, which is based on time, covers the company's loss of revenue or additional expenses if damage to certain utility goods located outside the covered building due to a cause of covered loss causes the interruption of service at the facilities described. Whether you have an auto repair shop, retail store, accounting office, or any other type of small business, the business owners policy can fit your needs.
The business owners policy is designed to meet the insurance requirements of small businesses, such as offices, stores, or apartment buildings. The BOP is a package of policies that offers most of the property coverage (both direct and indirect), crime and civil liability that small and medium-sized businesses require. The business owners policy form provides protection for buildings, the company's personal assets, or both based on the cost of replacement, provided that at least 80% of the quality-price ratio of the insurance is maintained.
