The Benefits of a Business Owners Policy (BOP) for Small Businesses

As the owner of a small business, you enjoy lucrative possibilities and exciting opportunities. However, growing your business and pursuing its goals requires you to navigate various risks that might quickly impose financial difficulties and sabotage your hard work. Fortunately, a suitable business owners policy (BOP) can play a critical role in your company’s financial security, offsetting common risks and exposures and allowing you to chase your dreams with peace of mind.

What Is a BOP?

BOPs are a convenient type of insurance product primarily available to small- and medium-sized businesses. Although exact eligibility details may vary among insurance carriers, these policies’ availability is often based on the number of employees you have, type of business, your annual revenue or the size of your workplace. General liability insurance, commercial property insurance and business interruption insurance are typically included in BOPs.

What Are the Benefits of a Business Owners Policy?

Having a BOP can cultivate versatile and robust financial protection for businesses of many industries. Specifically, as a policyholder, you may enjoy the following advantages:

• Comprehensive coverage—The components of most BOPs are typically needed by most businesses, regardless of industry or unique circumstances. As such, you’ll be equipped to manage the financial implications of many common incidents, such as third-party losses for which you’re liable and incidents that damage your own property.

• Reduced costs—By purchasing general liability insurance, commercial property insurance and business interruption insurance under a single arrangement from the same carrier, your company will likely enjoy lower total expenses than if each policy were purchased separately.

• Greater convenience—Maintaining several types of insurance under a BOP can make it easier to contact your agent and adjust your coverage.

We’re Here to Help

Contact Eric Dodge Insurance Agency in Longview, Texas, today to learn more about BOPs or get a personalized quote.

This blog is intended for informational and educational use only. It is not exhaustive and should not be construed as legal advice. Please contact your insurance professional for further information.