Business owners’ policies (BOPs) are insurance covers created to provide a broad spectrum of insurance coverage against many risks that often plague small to medium-sized businesses. Typically, the BOPs contain bundled general liability and commercial property coverages into one package that is usually affordable than acquiring single coverage policies.
These policies also cover business interruption risks, and they can protect your business from potential income loss. The cover also protects the policy holder’s business whenever staff or clients sue because of personal harm. The covers are ideal for small and medium businesses. But they sometimes bundle unnecessary cover options that aren’t required by some businesses.
Commercial Property Protection
The property coverage element of the BOP protects different kinds of property, including:
- Commercial premises defined in the policy’s declaration and equipment installed at the premises
- Any tenant improvements on the declared commercial premises.
- Property belonging to renters but stationed on the premises
- Business personal property within the premises
General Liability Protection
The BOP also protects third parties through its third-party liability cover that caters to:
- Advertising and personal injury liability
- Property and bodily injury liability
- Medical payments coverage for any injured individuals with a valid claim
Extra BOP Coverages
The BOP also contains some more coverages that expand its scope of protection, and some coverages include:
- Electronic data breaches protection
- Civil authority coverage
- Mold damage coverage
- Accounts receivable protection
- Computer systems interruptions coverage
- Valuable papers coverage
Get a Business Owners’ Policy Today
Are you a Medford, NJ resident, and you’d like to get a business owner’s policy? If so, visit Rock Insurance Agency Inc. to get your BOP. At Rock Insurance Agency Inc., we provide updated business owners’ policies to Medford, NJ, residents. Check out our website to learn more.