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Whether you’re in the business of selling clothes or providing consulting services, your company gives you financial security and the ability to live out your passion. If something were to suddenly impede your ability to continue on with your business, such as a fire, what would you do and how would you pay for the repairs? Here’s how you can alleviate those concerns with a business owners policy.

Everything to Know About a Business Owners Policy

What Is It?

A business owners policy, also known as a BOP, protects commercial entities from both property and liability problems. Usually, property and liability coverage are purchased through two different policies. Instead, a BOP rolls them both into a single policy for a lower premium. They’re best for businesses that are either small or medium in size.

What Does It Cover?

business owners insuranceA typical BOP covers three different areas: property, business interruption, and liability. Property insurance coverage includes damage from fire, vandalism, wind, and other disasters. Additionally, a business owner can get “all-risk” coverage that provides coverage in the event of other issues. It’ll also protect items owned by the business or a third party that is currently in possession of the business. Business interruption insurance offers financial compensation if a disaster, such as a fire, prevents the business from operating. Finally, liability protection ensures that a business owner is covered in case a customer or visitor gets hurt on-site.

Why Do I Need It?

If something happen to your company that keeps you from operating it as normal, you may not have the income to continue on with your lifestyle. It’s particularly important if you have a family and need to support them. A business owners policy safeguards that livelihood. Additionally, if you’re sued by an individual who gets hurt either at your business or due to one of your products or services, a BOP will cover legal costs to keep you and your business afloat.

 

Are you interested in protecting your company with a business owners policy? Integrity Insurance Solutions in San Marcos, TX, has provided a number of insurance products to residents and business owners for 10 years. Even if you have insurance in place, their experienced team will review your current policies and make customized recommendations to improve your coverage. Regardless of whether you need homeowners, auto, life or property insurance, their goal is to give you the highest level of protection at the most affordable price. Call (512) 396-2211 or visit their website to learn more about their trusted insurance solutions.

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