Business Owner’s Policy

Do I Need a Business Owner’s Policy? (BOP)

 

It’s no secret that running a business is highly demanding and as an entrepreneur, you feel the most pressure to do well because at the end of the day, it’s your name and money that’s on the line. But there are certain things that are out of your control and when they come, you could put your business at risk for failure. Just imagine having everything you worked so hard for turn into dust.

 

The good news is, you can still prepare for when certain loopholes may cause damages to your business, one of which is to get a California Business Owner’s Policy (BOP). Here’s why you need one for your business:

 

  • You get the protection that you need, and then some.

 

While insurance is a requirement when starting a business, you can’t always guarantee that the policy you have will already cover potential losses in certain circumstances. With a California Business Owner’s Policy (BOP), you get protection for all the major liability and property risks that you don’t even know you needed. General liability insurance, for instance, covers claims made by another person or business for bodily injury and damage to property.

 

Property liability insurance, on the other hand, protects all your furniture and equipment for up to five office premises. This is especially useful for accidental damages that could easily put a dent to your operational budget.

 

  • You get to better control of the effects of accidents.

 

Accidents can happen any time in your workplace and when they do, they usually take the biggest toll on your finances. This is why you should consider getting a BOP that allows you to get better control of the effects of these accidents. If you need to secure your building, office equipment and even data, getting BOP is one of the smartest moves you can take.

 

  • You get to protect your business from dishonest employees.

 

No matter how strict your screening process is, you may still encounter dishonest employees at some point and they can easily destroy your business if you don’t take careful precautions. When you have BOP, you can guarantee that you are protected against employees who may steal your property or important data.

 

  • You get to customize your policy according to your specific needs.

 

While most BOPs already come with the basic protection that your business needs, you might still need a few extras to amp up the coverage of your existing BOP. You can get coverage for fire and business interruption, hired vehicle liability and even terrorism, which are great investments to ensure that all the possible risks in your business are mitigated properly.

 

Every California Business Owner’s Policy (BOP) is unique, so it’s very important to learn about what your plan does and doesn’t cover to make sure that you don’t incur unexpected expenses when accidents happen. This is when it really pays to look for a BOP provider who can guide you through the process of choosing the right policy for your needs and even in customizing it so every corner is covered.

 

  • You get to protect your business from dishonest employees.

 

No matter how strict your screening process is, you may still encounter dishonest employees at some point and they can easily destroy your business if you don’t take careful precautions. When you have BOP, you can guarantee that you are protected against employees who may steal your property or important data.

 

  • You get to customize your policy according to your specific needs.

 

While most BOPs already come with the basic protection that your business needs, you might still need a few extras to amp up the coverage of your existing BOP. You can get coverage for fire and business interruption, hired vehicle liability and even terrorism, which are great investments to ensure that all the possible risks in your business are mitigated properly.

 

Every California Business Owner’s Policy (BOP) is unique, so it’s very important to learn about what your plan does and doesn’t cover to make sure that you don’t incur unexpected expenses when accidents happen. This is when it really pays to look for a BOP provider who can guide you through the process of choosing the right policy for your needs and even in customizing it so every corner is covered.

Insurance News