What is a Business Owner's Policy?

To protect your business from the perils and risks it faces on a daily business, it's important that you insure and protect it from these dangers. 

A business owner's policy (BOP) combines business property and business liability insurance onto one convenient policy. A BOP helps cover your business from the threat of claims resulting from things like fire, theft, or another covered disaster and from claims in which bodily injury, property damage, and fast advertising could arise from your business' operations. If you are unsure of what a BOP is, here is a quick recap which could help you determine if you need one to protect your business.

Who needs a BOP? 

You should consider a business owner's policy if:

• There's a possibility of you being handed a nasty customer lawsuit. For example, if there was a customer injured at your workplace.
• Your business has a physical location, whether it's a home office, leased or owned office, store, or other workplace.
• You have assets that could be stolen or damaged-whether they're digital assets, customer data, office equipment, cash, or inventory.

What the advantage of having a BOP?

The advantage comes in simplifying coverage by including business property and business liability-two different coverages that all businesses need, in one policy. Instead of having to purchase two separate policies, you can simply purchase one and save money while doing it.

What does a BOP generally include?

• Business liability insurance - Covers the costs associated with liability claims.
• Business property insurance - Protects businesses from covered damages.
• Business income coverage - If your business has to suspend operations, this will cover the following financial losses.

Your business deserves to be covered, and you deserve to save money while you offer protection to your business. To find the right business insurance that will protect and cover your business, be sure to contact Scavone Insurance Agency Center LLC, located in White Plains!