BOP is at the heart of small business or commercial insurance
Business insurance is essential to protect your financial and commercial interests when things go pear shaped. For cost effective and customised commercial insurance in Blairsville, Blue Ridge, Calhoun, Dawsonville, Ellijay and Jasper, GA, you should speak to the team at Payne Insurance.
Business insurance serves to protect your financial interests in your property, commercial assets and also to protect you in the event of liability claims. With proper business insurance you don’t have to spend your days worrying about the ‘what ifs’.
Business insurance covers many areas and different types of companies may also require special insurance related to their industry. For example a medical practitioner will require different commercial insurance than a building contractor. However there are also common risks and issues that all businesses face. At the heart of commercial insurance is the BOP (business owner’s policy). This type of policy is suitable for small and medium sized enterprises and covers your basic business risks. This type of package policy is designed for businesses that face similar risks and threats.
Included in your BOP is property insurance designed to cover your commercial buildings and contents. Business interruption coverage is another important component of such a package policy. This covers you for loss of income as a result of some disaster or catastrophe such as a fire. One of the most important aspects of a BOP is liability insurance. If a third party suffers injury or damage as a result of your business operations you could face a crippling law suit. Liability insurance kicks in when that happens.
However a business owner’s policy does not cover everything and you should be well aware of what is covered and what is not. Some things that a BOPs do not generally cover include professional liability, flood damage, commercial auto and workers compensations.