Owning a company comes with many risks, and insurance will address most of them. But since there are several types of business insurance to choose from, deciding on what you need isn’t easy. Rather than purchase basic ones individually, a Business Owner Policy (BOP) provides a simpler solution, as it covers the general risks that most organizations face.

What Does a BOP Cover?

This bundled business insurance packages general liability and property coverage together. A BOP includes legal expenses that occur if a third party sues, such as when a customer gets hurt at your location or your company is responsible for property damage. This policy also covers losses that result from fire, theft, or vandalism to your property. Some add business interruption insurance, which pays out a year’s worth of income if property damages prevent you from operating. Additionally, you may be able to customize plans to address risks specific to your business.

However, though a BOP is comprehensive, it may not address all your business insurance needs. For example, you may need to purchase a commercial auto insurance policy to cover company vehicles. Workers’ Compensation will also have to be purchased in case of employee claims for workplace injuries.

Why Is a BOP Beneficial?

Anyone who owns a small- to medium-size business should consider a BOP because it protects against many of the risks the average workplace encounters. And, since the plan combines essential coverage, you can simplify the way you select and manage business insurance products. A BOP is generally less expensive than what it would cost to buy individual liability and property policies from an insurance company.

To learn how a Business Owner Policy would benefit your company, turn to the agents at Coggeshall-Simmons Insurance, providing affordable and dependable policies to individual and commercial customers in Coolville, OH, for over 45 years. Their team offers comprehensive protection, ideal for local entrepreneurs. Visit this agency online to learn more about their product options and benefit. Or, to get a business insurance quote, contact a friendly agent at (740) 667-3111 today.