How the Businessowners Policy Can Protect Your Small Business

If you have a small business in Hershey, PA or nearby, you know how important it is to protect your company from liability issues and more. This is entirely possible when you have a business owner’s policy (BOP). A quality insurance company like Options Insurance Agency can help you set this up.

How a BOP Protects Your Business

When you have a business, there’s always going to be a risk of liability. With a BOP, you’ll have coverage for your business’s financial and physical assets.

You’ll have protection for all of your property and liability risks rolled into one package. They are ideal for small and mid-sized businesses and provide you with broad coverage. It combines commercial property insurance with general liability insurance for your convenience. Sometimes, you can get Business Interruption Insurance included in this.

The most significant benefit of doing it this way (besides simplifying something that’s usually quite complex) is that you will save money over having to purchase each policy separately.

  • Property Damage: Your policy will cover any damages resulting from unexpected events at your property. This includes burst pipes that cause damage to your inventory.
  • Bodily Injury/Medical Expenses: Slip-and-falls are covered under this, as well as any other instances of customers or employees getting injured while on your business property or from conducting typical work tasks, not through their own fault.
  • Lost Income: Business Owners Insurance also will cover some lost income, like if you have to stop business operations for a while. This usually is for up to a period of 12 months. It covers things like rent payments, relocation to a temporary location, and employee payroll.

A few classes of individuals qualify for BOP. This includes suppliers, parties to a work contract, employees, and the business itself.

If you’d like to learn more about Business Owners Insurance, reach out to Options Insurance Agency, serving the greater Hershey, PA area.