Small and medium sized business are exposed to a number of perils that can be costly if not protected against properly. The North Carolina Business Owners Policy (BOP) has become very popular for business owners because of the many coverages packaged into one inexpensive policy.
By packaging several insurance policies into one simple policy, you not only get very comprehensive coverage but you can save a lot of money. Although it is not designed to be the only policy a business needs, additional types of coverage can be purchased such as workers comprehensive insurance, commercial auto insurance, business umbrella insurance and employment practices.
The typical Business Owners Policy includes coverage for:
- Property insurance- building, inventory and equipment
- Liability- covers harm to others and their property
- Business Interruption- replaces loss of income and pays for continuing expenses until your business is back up
- Crime- Covers losses due to employee dishonesty, money and securities and embezzlement
There are also options that can be included to a BOP including hired and non-owned autos, valuable papers, rented equipment and more.
There are variations to what is actually covered and special limits apply. That is why it’s best to discuss your business’ individual needs and address these needs.
The BOP is typically the perfect solution for small to medium size business such as restaurants, retail stores, law offices, dentists, optometrists and more.
