Business Owners Policy (BOP) - Coverage for Multiple Locations Carbondale IL
Company: PIVAR FINANCIL SERVICES
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University Of Wisconsin
BS L & S
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East Peoria, IL
Oak Brook, IL
Company: WealthCare Consultants
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Years Experience: 20
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Business Owners Policy (BOP) - Coverage for Multiple Locations
Business Owners Policy (BOP)
Does your 'home' business operate from more than one location? Maybe your kitchen and your Grandma's kitchen? The Business Owners' Policy (BOP) has been created specifically for small to mid-sized businesses and it will cover multiple locations.
A BOP, like the in-home business policy, covers business property and equipment, loss of income, extra expense and liability. However, these coverages are on a much broader scale than the in-home business policy.
If you need a business insurance policy, you should try to buy business insurance that offers inexpensive, but good, quality coverage for your business, including all of the premises and contents, as well as any moving assets such as company automobiles, from damage or theft.
You will have two ways to get the full coverage that you need:
- Arrange to cover your contents (work equipment, furniture, etc.) separately from your established building property (walls, roof what you would call the building itself).
- Buy a single policy that covers your contents and fixed property together.
If you purchase property protection, make sure that it includes personal injury protection for guests or anyone who works for your business. This will cover health expenses regardless of whether incidents are accidental. With this coverage, you can feel comfortable that your employees are covered and you will not lose your business due to a work related accident.
Another important entity in the biz insurance world is workers compensation coverage. This may be legally required in the state where your business is located. It covers your employees in case anything adverse happens that prevents them from being able to work for you. Be sure to check on your jurisdictions requirements for workers compensation coverage when you buy your insurance for your business. The bad news: A BOP doesn't include workers compensation, health or disability insurance. If you have employees, you'...