A Business
Owner's Policy (BOP) is usually the first step for small
businesses looking to get basic property and liability
coverage. A BOP allows a business to bundle property and
liability coverage into a BOP and allows the business to
obtain broad coverage with affordable premiums. For eligible
small and medium-sized businesses, a BOP is a comprehensive
package that can be a potential bargain source of insurance.
Package policies are generally better for all parties
involved—they offer broader coverage, lower costs, fewer
coverage gaps, and they are easy to read
Please let us contact you:
Just fill out
the form below and
licensed agent will contact you same business day. Thank you.
We suggest Business Owners policy,
which includes
Buildings - including improvements you
have made.
Business continuation - death of an
owner, partner or key stockholder
Contents - personal property, stock and
equipment.
Crime - loss of money and securities
through theft, burglary and robbery; employee dishonesty;
forgery and alterations.
Equipment Breakdown - air conditioning,
refrigeration, electrical and mechanical equipment.
Computers - hardware, software, media
and reproduction costs.
Business Liability - premises,
operations, products and completed operations.
Personal Injury - libel, slander,
defamation of character, wrongful eviction and invasion of
privacy.
Accounts Receivable - including a debt
owed to an enterprise, arising out of the normal course of
business dealings.
Loss of earnings or rents
Valuable papers
Glass
Signs
Medical payments
Business auto
An insurance company bases insurance
premiums on the risks involved. To do this, they evaluate the
situation to determine the risks, or potential for losses. The
insurance company determines its rates on the results.
The steps you take today to lower your risks can not only help
safeguard your business but may make you eligible for lower
insurance rates. Consider the following steps:
Maintain adequate lighting throughout
your business premises.
Keep electrical wiring, stairways,
carpeting, flooring, elevators and escalators in good repair.
Install a sprinkler system, smoke and
fire alarms and adequate security devices.
Keep only a small amount of cash in the
cash register.
Keep good records of inventory, accounts
receivable and equipment purchases.
Consider keeping a second set of records
off-site, such as with your accountant, insurance agent or at
home.
Make sure your employees have good
driving records.
Make sure your employees know how to
lift properly and use all necessary safety equipment, such as
goggles, gloves and respirators.
You should consider using the services
of a risk manager. An outside consultant can advise you of any
safety or environmental regulations you may have overlooked.
Talk to your employees about safety
practices.
You may also
want to raise your deductible where appropriate to lower your
premiums. Be careful not to raise it so high that you cannot
cover it should a loss occur.
Meet with your insurance broker annually to
review your current coverage. Gather all your present policies
(including Employee Benefits, Workers Comp and Property/Casualty
Coverage’s).
Ask your current insurance company or
companies for a no obligation, free survey of your exposures.
Checking out the physical layout of your business, as well as
your safety equipment and procedures, may reveal steps that can
be taken to reduce risk and, equally importantly, your insurance
premium.
Make certain your
insurance coverage keeps pace with your business growth.
Sometimes a busy business owner is growing so fast that proper
coverage for expansion or new equipment is overlooked.
