Business insurance is an important piece of operating a successful business. A business owner’s policy, commonly known as a BOP, is an all-inclusive insurance policy that combines your coverage into one simple bundle with one premium to pay. BOPs come standard with property and liability coverage, along with the option to add on the coverage you need to protect the interests of your business. This makes BOPs a great solution for all business owners; a more hands-on person will enjoy the ability to customize the policy, while a more hands-off person will enjoy the ease of a bundle package.
In order to qualify for a BOP, your business must employ no more than 100 employees and bring in no more than $1 million in annual revenue. If you meet the criteria, call your independent insurance agent, who can evaluate your business’ risks and needs. Together, you can build a policy that offers optimal protection for a price that won’t break budget. However, bear in mind that commercial auto insurance and workers compensation insurance are often excluded and will likely need to be purchased separately if necessary.
