BOP insurance (business package) can be the perfect way to protect a small business. The conclusion is that you want maximum coverage at the lowest possible price, and BOP insurance may be your best option.
The Basics of Parcel Insurance for Entrepreneurs
A BOP insurance covers all major property and liability risks and is usually the perfect insurance for smaller businesses. A BOP policy protects your business against the following risks:
- Commercial property insurance: Your plant, equipment and warehouse make it possible to deliver to your customers. Property insurance provides coverage for damage to your building and the contents of your facility. We can evaluate the coverage you need to replace expensive equipment.
- Insurance Interruption Insurance: If a fire or other disaster has made it impossible to continue doing business, this type of insurance covers your losses and may pay to move your operations to another facility while repairs are being made.
- General Liability Insurance: Your company may be the target of a lawsuit or claim if another party was injured. General liability insurance protects you against claims for personal injuries, defective product claims, installation claims and claims in connection with poor service.
- Crime insurance: If your company has been the victim of fraud, theft or forgery, a BOP insurance protects against the financial losses that your company may suffer.
Does Business Owners Package (BOP) Insurance Cover All Risks?
BOP insurance does not cover all types of business risks, but additional coverage can be arranged for the following:
- Occupational liability
- Car insurance
- Workers' compensation
- Disabled insurance
- Cyber liability
- Advertising damage
- vehicle insurance
- Working methods Liability insurance
- Accounts receivable
- Distribution insurance for equipment
Which companies are entitled to BOP insurance?  Is your company eligible for BOP insurance? Many small businesses are eligible for BOP (Business Owners Package) insurance. As an overall policy, these policies are more affordable and accessible to smaller companies that meet specific criteria:
- Your company is considered low risk.
- Your business takes place in a building you own or rent rather than in your home. .
- You have less than 100 employees.
- You have less than $ 5 million in annual sales.
- You own property and valuable equipment.
BOP insurance against general liability insurance
The biggest advantage of BOP insurance is the lower cost – an important point for small business owners. The cost of bundle insurance is lower than buying property and liability insurance separately. For some companies, however, a general liability insurance is required. General liability insurance covers bodily injuries, property damage, advertising and personal injuries such as libel, slander and copyright infringement.
General liability insurance also covers costs for legal fees, court costs and any settlement or judgment up to the insurance limits – but not damage to property. Some types of business activities may require general liability insurance. If you have a small business, work in a smaller facility in a lower risk industry and do not need a break insurance that extends beyond 12 months, a BOP insurance is cheaper and can provide the coverage you need. If you are looking for an affordable BOP insurance, contact one of our insurance agents to help you find the best insurance at the lowest price.