Business Owner
Policies
(BOP)
What is Homeowners Insurance?
Homeowners Insurance is something all homeowners or buyers must think about, as it is usually a requirement for one’s mortgage. Home insurance protects the insured from losses incurred from property damage – to the building or belongings inside it – and, in most cases, from liability if someone is injured due to the homeowner’s negligence, on or off the property. Many policies also cover living expenses in the case of a natural disaster.
Business Owner
Policies
(BOP)
What is Homeowners Insurance?
Homeowners Insurance is something all homeowners or buyers must think about, as it is usually a requirement for one’s mortgage. Home insurance protects the insured from losses incurred from property damage – to the building or belongings inside it – and, in most cases, from liability if someone is injured due to the homeowner’s negligence, on or off the property. Many policies also cover living expenses in the case of a natural disaster.
Business Owner
Policies
(BOP)
What is Homeowners Insurance?
Homeowners Insurance is something all homeowners or buyers must think about, as it is usually a requirement for one’s mortgage. Home insurance protects the insured from losses incurred from property damage – to the building or belongings inside it – and, in most cases, from liability if someone is injured due to the homeowner’s negligence, on or off the property. Many policies also cover living expenses in the case of a natural disaster.
Who Needs It?
Your insurance commissioner determines which types of businesses must be insured and the minimum standards for coverage. As a general rule, any business with employees must carry unemployment insurance. Even if you aren’t an employer, it’s still common practice to carry enough insurance to cover the value of your assets.
Types of Coverages
There are a variety of coverage options available depending on your particular business needs and practices, including:
• General liability insurance—This type of coverage protects your business in the event of a lawsuit for negligence, accidents, and injuries. Policies usually cover such items as medical expenses, property damage, bodily injury, slander, and libel.
• Product liability insurance—Coverage protects companies involved in the manufacture, distribution, or sale of a product from losses due to defects that result in bodily injury or harm.
• Professional liability insurance—This protects a business or individual involved in providing a service against claims for errors, negligence, or malpractice. Many states require professionals such as doctors, attorneys, and accountants to carry this type of coverage.
• Business property insurance—This type of policy protects the business owner from losses related to fire, theft, or other types of damage to the property.
Major Benefits
Properly insuring your business can mean the difference between keeping the doors open and filing bankruptcy. Depending on your coverage, a business policy can restore damaged property, protect you against a lawsuit, and even replace lost income.
Who Needs It?
Your insurance commissioner determines which types of businesses must be insured and the minimum standards for coverage. As a general rule, any business with employees must carry unemployment insurance. Even if you aren’t an employer, it’s still common practice to carry enough insurance to cover the value of your assets.
Types of Coverages
There are a variety of coverage options available depending on your particular business needs and practices, including:
• General liability insurance—This type of coverage protects your business in the event of a lawsuit for negligence, accidents, and injuries. Policies usually cover such items as medical expenses, property damage, bodily injury, slander, and libel.
• Product liability insurance—Coverage protects companies involved in the manufacture, distribution, or sale of a product from losses due to defects that result in bodily injury or harm.
• Professional liability insurance—This protects a business or individual involved in providing a service against claims for errors, negligence, or malpractice. Many states require professionals such as doctors, attorneys, and accountants to carry this type of coverage.
• Business property insurance—This type of policy protects the business owner from losses related to fire, theft, or other types of damage to the property.
Major Benefits
Properly insuring your business can mean the difference between keeping the doors open and filing bankruptcy. Depending on your coverage, a business policy can restore damaged property, protect you against a lawsuit, and even replace lost income.
Other Policies
Other
Policies
Secure the BEST Business Owner Policies (BOP) coverage now!
Secure the BEST Business Owner Policies (BOP) coverage now!
