Reasons To Consider Business Owner’s Policy

​Business Owner’s Policy is a special type of commercial insurance that combines various insurance coverages into one convenient policy. It helps cover a business from several major lawsuit cases that it could face like fire, theft, or other covered disasters. Additionally, it can be custom-made, so it’s great for businesses of any size. Moreover, it is a more cost-effective option than separate policies available.

Who Needs a Business Owner’s Policy?
All businesses are capable of acquiring a business owner's policy. However, this best applies to small business owners who want to protect the investments they’ve made in their business. Generally, it best suits if the business has a physical location that is out of home, a rented office, or a store. Additionally, if a business has equipment like printers, computers, and furniture, it is advisable to have this policy. 

In addition to this, it is a must-have if the business will hold the client’s property. This is because some things are hard to replace because some are very expensive. This policy will give business owners confidence that they can replace expensive client’s property or assets. 

Coverage of Business Owner’s Policy 
If you want the property, interruption in business, and liabilities to be covered, you need to acquire a business owner’s policy.  Listed below are the things that this policy covers.

1. Property Insurance 
   This insurance provides coverage for any hazards caused by stealing, fire-related accidents, destroying or damaging properties, and many others. The properties covered by the BOP are the physical infrastructure or framework of the business and company-owned contents, which are vital to the business. Also, the things owned by a third party but under the custody or care of the business owner are covered.
   
   
2. Interruption in Business
   This insurance helps to pay for the profits lost by the company due to any hazards. It also covers the payment for renting the building, office, or space, expenses for transferring to another location, and any other expenses caused by fire or other catastrophes that may affect the operation of the business. The claim in each business interruption helps to assist the businesses that encounter unavoidable circumstances.
   
   
3. Liability Protection 
   It covers the company's legal responsibility for the harm or damages it may cause to others. These include the things that happened to an employee while he was doing his job. Additionally, this insurance will make a move by taking care of the bills by giving necessary payments, if somebody got injured or something happened to the property due to defective products or equipment, improper installations, and negligence.

 
Your business is a big investment. A business owner’s policy is a must-have for you to have peace of mind.
 
At All Things Insurance, we do our best in making sure that our clients are well-protected with affordable and comprehensive policies. We make sure to go the extra mile to help you with your needs. To learn more about how we can help you, please contact our agency at (763) 645-5450 or Click Here to request a free quote.