With the ever-emerging business risks, your business is vulnerable to a variety of risks. Many claims can be made against your business, right from a customer to an employee. Such claims can make your business suffer a Financial loss, restrict your cashflow and disturb the daily functioning of your business. Protect yourself with a Business Liability insurance.
Business Owners Policy
Business Owners Policy Service By Dhanalakshmi Securities
What Is A Business Owners Policy
Business owners policy also known as (BOP) caters numerous businesses. Getting a separate business insurance policy for each unforeseen event can be expensive. Thus, premium financial institutes of the country offer package policies. A typical Business Owner Policy (BOP) combines Liability Insurance with Property Insurance. Besides covering the expenses of the lost or damaged assets, the insurance will also cover legal expenses (lawsuit fees, settlement costs, lawyer payment, etc.) So, this type of business insurance is ideal for large businesses.
However, as a business owner, you should go ahead or at least consider getting a BOP if any of the following applies to you:
- If you conduct your business right from your home or even outside, you should consider a BOP.
- Your line of business requires a physical location such as an office, store or other building types.
- Presence of any assets is required in the business location, which one can steal or damage such as registers, cash, inventory, other equipment, and so on.
- If your work place is open to the clients, a BOP would keep you safe in situations such as a client suing you due to injury.
What does Business Owners Policy cover?
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- A business owners policy includes property and business liability insurance all in one policy.
- It is designed for small to medium businesses and has a premium that is usually less expensive than what it would cost if the two coverages were not bundled.
- Besides covering the expenses of the lost or damaged assets, the insurance will also cover legal expenses (lawsuit fees, settlement costs, lawyer payment, etc.)
Commercial Property Insurance
Insurance which provides a safety net to your property
Commercial Vehicle Insurance
Commercial vehicles cover your different types of external damages, along with personal and third-party liabilities.
Commercial Umbrella Insurance
Covers you against unforeseen circumstances which are usually not covered by any standard insurance policy
Educational Institution Package
Protection for your institution property from losses
Importance of Business Owners Policy
Many small businesses can benefit from having a Business Owners Policy in place to protect themselves from unexpected financial losses that aren’t covered by General Liability Insurance. A BOP can be constructed to meet the needs of your specific business.
With our help, you can design a package unique to your company’s needs.
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