Business Owner Policy

Boise, ID Business Owner Policy "BOP"

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Idaho Business Owner Policy - A Combination Insurance Package

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Business Owner Policy For Your Business

Business Owner Policy or B.O.P is a combination of business property and business liability insurance into one insurance package. BOP Insurance helps cover claims resulting from things like fire, theft, and other specific disasters. This type of insurance is popular among a variety of small and medium-sized companies such as restaurants, wholesalers, retail stores, and contractors.

This policy also covers the events that could arise from your business operations such as bodily injury and property damage claims. However, it is typically sold at a premium that is less than the total cost of individual coverages.

What Coverages for a Business Owners Policy

A BOP protects two primary coverages:

Liability

- The coverage you get on your general liability is available on BOP. And this includes the protection against liabilities like customer injury and property damage, product-related claims, and advertising injury.

Property

- Commercial buildings and the movable property owned by and used for your company are covered with BOP. This policy also pays for other things like debris removal, loss of income, and pollution cleanup.

But BOP policy among the other insurance has certain coverage exclusions that you should understand before buying coverage. If you need protection in components that aren’t covered, BOP can extend their coverage to meet the specific needs of every business, by adding optional coverages like:

Data breach.
Business income for off-premises like utility services.
Other specialized coverages.

These are the sample of optional coverage for BOP, you can explore optional coverage here at our website or you can directly message our broker and agent for your customized BOP insurance coverage.

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Who Needs B.O.P Insurance?

A business needs this insurance policy if:

A. The business has a physical location. It doesn’t matter where you operate your business, what matters is your business and assets have coverage. BOP can protect your business even if you’re working in your home, rented or leased office, store or garage.

B. Possibility of getting sued. Well, every business can fall off on some major claims, especially if a customer is injured at your workplace and you don’t have any BOP policy to back you up. All of the medical expenses will fall right straight into your pockets.

C. An asset that can be stolen or damaged. Form tangible assets to a customer’s data, and equipment to inventory, and assets that can be hard to replace. Having BOP insurance you don’t have to worry about the assets that got stolen or damaged from your business.

But not all businesses are qualified to get BOP insurance. Eligibility requirements may differ and depend on the providers. Most insurance carriers may have a request regarding your business location, size of the location, revenue, and class of business. These are typically the requirements asked for by insurance companies but as we say that eligibility will depend on your insurance carrier.

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Why Purchase Business Owner Policy

The great thing about business owner policy is it can be a custom-made policy, this will help every corporation to ensure that every part of their business is insured and protected. This means that it is fitted with any kind of industry, especially for small-sized operations. This kind of policy is designed to help cover business that usually faces the same risks. Customizing and acquiring BOP insurance is an excellent step when ensuring your firm is operating. It is a great way as a starter to protect against loss and damage later on.

No matter how you operate your business or even how big or small it is, every business deserves to be insured. Operating a business is associated with accidents, no company is ever safe from anything. But this accident can be avoided if you start your business with the right coverage. Major claims can turn your company upside down. Don’t let your hard work be ruined by a single claim. Protect your company and your employees with ISIWC. Let us help you get the right insurance coverage for your company’s needs.