Business Owners Policy (BOP) Information
Serving Texas, Florida, Illinois, California, Georgia & 30 other states
As a business owner, you have a significant stake in the successes or failings of your company. Problems with your business can impact your personal financial situation. Even if you are diligent about maintaining compliance and workplace safety, you may not be able to eliminate risks and exposures entirely. Fortunately, a business owners policy (BOP) can provide suitable insurance and financial protection.
For over a decade, Integrity Network Insurance Group has been helping business owners in Austin, Dallas, Houston, San Antonio and throughout central Texas understand the importance of BOPs and acquire suitable coverage.
What Is a BOP?
For most small- to medium-sized businesses, BOPs are integral parts of an adequate insurance portfolio. These policies bundle several essential coverages into a single policy that is both convenient and cost-effective. In doing so, BOPs can protect companies from losses and damages arising from many common incidents, such as fires, theft and lawsuits.
What Does a BOP Cover?
When exploring your BOP options, there are several core coverages you may need, including the following:
- General liability—This coverage is essential for protecting you financially after an incident that you are responsible for involving a third party. With the inclusion of general liability coverage, your BOP may be able to pay for the following costs:
- Medical treatment
- Lost wages
- Property damage
- Legal expenses
- Commercial property—This coverage may provide crucial financial assistance if property used to operate your business is damaged, such as the following:
- Physical workplace
- Business interruption—This coverage can help cover various losses and expenses arising from a temporary interruption of your company’s regular operations, such as the following:
- Rent or mortgage payments
- Lost income
In addition to these core coverages, you must assess your business’s specific circumstances and operations. Certain additional coverages may be necessary to complete your insurance portfolio, such as the following:
- Professional liability insurance
- Workers’ compensation insurance
- Cyber liability insurance
- Commercial auto insurance
- Employment practices liability insurance
Get the Right Coverage
Operating a business can be rewarding, exciting and lucrative, but it also comes with many risks and exposures. As an owner, it’s your responsibility to protect the finances and future of your business. Fortunately, a BOP can provide a wide array of protection and help insulate you from losses and damages arising from many common events.
The agents at Integrity Network Insurance Group are dedicated to helping businesses like yours secure their financial futures. We will be diligent in assessing your company’s specific situation and determining your coverage needs. Contact us
today to get started.