Business Owners Policy (BOP)
Combined Coverage for Special Advantages
At E. A. Funk And Associates, Inc., we’re committed to providing insurance solutions that keep small to medium-sized businesses protected. That is why we combine various coverage options into one convenient package – for more benefits than a typical Business policy and better savings through competitive pricing.
A Business Owners Policy (BOP) from E. A. Funk And Associates, Inc. allows your business to create a customized insurance policy that combines Property, Commercial General Liability, and Crime Insurance, as well as additional coverage types based on your needs.
The proper Business Owners Policy can keep your day-to-day operations protected with options such as:
-
Products and Completed Operations
-
Premises Liability
-
Premises Medical
-
Fire Legal Liability
-
Business Income Insurance
-
Building and Personal Property Protection
-
On-Site Equipment Insurance
-
Coverage for Inventory Loss
-
Crime Insurance
Find Out if Your Business is Eligible
Since Business Owners Policies apply only to special types of businesses with specific needs, operations, and risks, it’s important to contact a specialist at E. A. Funk And Associates, Inc. who can help you determine whether a BOP is right for your small or medium-sized business.
Common BOP Questions:
The BOP developed out of the idea that businesses need multiple types of insurance. Insurers thus created the BOP to offer some of the most critical types of coverage in one package.
With a BOP, you’ll have one package of essential insurance options. You’ll pay one premium and can tailor coverage limits to your personal needs. Therefore, you'll put your business on more secure financial footing.
Every BOP will vary. Yet, most offer a few standard coverage options. These generally include:
-
Property insurance: Covers physical assets like your building and the contents kept inside.
-
General liability coverage: If the business causes property damage or injury to customers, this coverage can help you repay them for their losses.
-
Interruption coverage: Covers you if you have to temporarily close your business after a hazard. Coverage can pay expenses like salaries or taxes though you cannot operate to make money.
Keep in mind, your BOP won’t cover everything. You’ll likely need to augment coverage with extra policies like:
-
Commercial auto insurance
-
Professional liability coverage
-
Workers compensation
-
Health insurance for employees
Work with your agent to set the most comprehensive policy structure for your company.
Think about many of the ways a BOP can help you.
-
If a fire or weather damages the store or items inside, you can get help replacing them.
-
What if a customer slips and falls in your business? Your liability coverage can help pay their medical bills or legal settlements.
In these and many other circumstances you can easily see the benefits of a BOP. Rather than put your hard-earned assets on the line trying to clean up, let your coverage help. It’ll be valuable protection for your business.
|