Many small businesses in Green, OH have similar risk exposures and insurance coverage needs. For these businesses, a business owner policy (BOP) is often the best type of policy to get.
What is a Business Owner’s Policy?
A business owner’s policy is a bundled insurance package designed for small to medium-sized businesses. It typically combines commercial property insurance and general liability insurance.
- Commercial Property Insurance: Usually covers the physical assets of a business, such as any building, equipment, or inventory. The coverage usually protects against damage and loss resulting from common risks like fire, theft, and natural disasters.
- General Liability Insurance: Usually covers injuries that others sustain or damage to their property, for which the business is responsible. The coverage primarily protects against injuries and damage occurring in commonplace accidents. General liability also may guard against any defamation or false advertising lawsuits.
Together, these two coverages meet the basic insurance needs of many small businesses in Green, OH. At Ken Boldt Insurance Agency II Inc., we can help you determine whether this type of policy meets your business’s particular needs.
Businesses with more extensive or varied insurance needs might require a commercial package policy rather than a BOP.
Advantages of a BOP
The primary advantage of a BOP is the convenience of having essential coverages under one policy. This simplifies administration and often results in lower premiums for most businesses.
Get Help Protecting Your Business
If you need help finding commercial insurance for your small business, contact us at Ken Boldt Insurance Agency II Inc. We can help you determine whether a BOP is right for your business and then find one if it indeed meets your business’s needs well.