A Business Owner's Policy (BOP) bundles property and liability insurance for a business into a single policy. BOP insurance protects your company against claims stemming from calamities such as fire, theft, or other covered disasters. Business owner’s insurance also helps cover claims that may arise as a result of your business operations. These include bodily injury and property damage claims. Moreover, they include claims for personal injury and advertising injury.
Businesses can customize their Business Owner's Policy (BOP) by adding optional coverages such as:
A BOP can be tailored to the specific needs of the industry. This implies that it is ideal for businesses of all sizes, particularly for small businesses.
Policies such as a BOP are designed to cover businesses that face similar risks. Customizing your business's BOP Insurance is a critical first step to insuring it. Small business owners should do this from the start to protect themselves against losses and damages.
If you rent or own a workspace or have client contracts that need general liability insurance, you will almost certainly require a Business Owner's Policy (BOP) from Stampede Insurance. A BOP can benefit your business if it meets the following criteria:
Purchasing a BOP policy is a prudent and easy course of action. It streamlines coverage requirements by including business property insurance and business liability insurance. This is a combination of two critical coverages.
Stampede Insurance’s Business Owner's Policy (BOP) enables companies to save money while still receiving comprehensive coverage for things like:
Here are some frequently asked questions about BOP you should know about before getting one for your business:
The difference between a Commercial General Liability (CGL) and a Business Owner's Policy (BOP) is that the former covers only liability losses, whereas the latter covers both liability and property damages.
Every business with employees is required by the federal government to carry workers' compensation, unemployment, and disability insurance. Additionally, certain states require supplementary insurance.
A typical business that qualifies for a BOP is as follows:
Additionally, separate coverage is required for commercial autos, workers' compensation, and group employee benefits such as health and life insurance. Allow one of our business owner's policies consultants to assist you in determining the appropriate coverage for your business today.
At Stampede Insurance Services, we provide comprehensive Business Owner’s Policy (BOP) insurance to many businesses throughout the state of California and other states. A BOP combines all coverages into one policy to protect your small to medium-size business assets.
We can tailor a package to fit the needs of your industry since many industries need specialized packages for their business owners' policies.