Business Owner’s Policy.
A Business Owner’s Insurance policy combines protection from all major property and liability risks in one package. Also known as a BOP, this type of policy is popular among a variety of small and medium-sized businesses. In the greater Torrington CT area, consult Irongate Insurance Counselors to discuss your business insurance needs. If you have fewer than 100 employees and less than $5 million in sales, a BOP may be a good fit for you. Package policies are created for businesses that generally face the same kind and degree of risk. BOPs are appropriate for restaurants, wholesalers, retail stores and contractors. This type of policy does NOT cover professional liability, auto insurance, worker’s compensation or health and disability insurance. You’ll need separate insurance policies to cover professional services, vehicles and your employees.
Examples of BOP Coverages:
- Property insurance for buildings and contents owned by the company. This protects business furniture and equipment used in your office (chairs, desks, computers).
- Business interruption insurance, which covers the loss of income resulting from a fire or other catastrophe that disrupts the operation of the business. It can also include the extra expense of operating out of a temporary location.
- Liability protection, which covers your company’s legal responsibility for the harm it may cause to others. This harm is a result of things that you and your employees do or fail to do in your business operations that may cause bodily injury or property damage due to defective products, faulty installations and errors in services provided. Included are defense costs for libel and slander.
A Business Owner’s Policy (BOP) is a convenient way to help protect your Torrington CT business for property damage and liability insurance in a single policy. By bundling these two coverages into one policy, you can worry less about insurance policies and focus more on your customers. Business owners trust Irongate Insurance to help them with their business insurance needs. Contact Irongate Insurance Counselors today for a free Business Owner’s Policy quote. We’ll work together to create a plan that works for your business. Call 860-658-6500.