logo
g Text Version
Beauty & Self
Books & Music
Career
Computers
Education
Family
Food & Wine
Health & Fitness
Hobbies & Crafts
Home & Garden
Money
News & Politics
Relationships
Religion & Spirituality
Sports
Travel & Culture
TV & Movies

dailyclick
Bored? Games!
Nutrition
Postcards
Take a Quiz
Rate My Photo

new
European Travel
Action Movies
Bible Basics
Houseplants
Romance Movies
Creativity
Family Travel


dailyclick
All times in EST

Full Schedule
g
g Insurance Site

BellaOnline's Insurance Editor

g

Insurance for the Business Owner


A business owner’s policy (BOP) has been compared to a homeowner's policy for business. BOPs were first developed in the 1970s and have become a very popular form of insurance for small to medium sized businesses. BOPs combine some of the basic coverages needed by a typical small business into a standard package at a premium that is generally less than would be required to purchase these coverages separately. Business owners also like the simplified nature of the package as opposed to buying a collection of small policies. The efficiency also appeals to insurance companies and allows them to offer a lower premium for the package.

Most of the coverages that are needed by small and medium sized businesses, with the exception of auto and worker’s compensation, are generally included. Business owner’s policies basically consist of property coverage, liability coverage and some additional types of coverage that most businesses require. Optional coverages can also be added to meet specific needs of the business.

Typically a BOP policy includes:

1. Property insurance (covering buildings, equipment and inventory).

2. Business interruption insurance (covering losses that cause you to shut
operations or reduce production for a time). Business interruption
insurance can provide money to offset lost profits or to pay continuing
expenses (typically for up to a year for insured losses).

3. Casualty or liability protection (covering harm done by the employees or
products to other people or their property).

4. Crime insurance (covering loss of money or securities resulting from
burglaries or robberies or destruction) as well as losses from employee
theft or embezzlement.

5. Liability insurance covering lawsuits arising from accidents (as when
someone trips and falls on your business’s property) or when you sell a
product that damages the customer’s property or you are accused of offenses
such as slander, copyright or invasion of privacy.

6.Vehicle coverage for rented or borrowed vehicles.

A number of other coverages such as flood insurance or earthquake insurance or owned vehicle coverage and specialized liabilities are generally not included in BOPs. Some of these may be available separately for extra premiums.

Add Insurance+for+the+Business+Owner to Twitter Add Insurance+for+the+Business+Owner to Facebook Add Insurance+for+the+Business+Owner to MySpace Add Insurance+for+the+Business+Owner to Del.icio.us Digg Insurance+for+the+Business+Owner Add Insurance+for+the+Business+Owner to Yahoo My Web Add Insurance+for+the+Business+Owner to Google Bookmarks Add Insurance+for+the+Business+Owner to Stumbleupon Add Insurance+for+the+Business+Owner to Reddit




RSS | Related Articles | Editor's Picks Articles | Top Ten Articles | Previous Features | Site Map


For FREE email updates, subscribe to the Insurance Newsletter


Past Issues


print
Printer Friendly
bookmark
Bookmark
tell friend
Tell a Friend
forum
Forum
email
Email Editor


Content copyright © 2014 by Denise M. Castille. All rights reserved.
This content was written by Denise M. Castille. If you wish to use this content in any manner, you need written permission. Contact Denise M. Castille for details.

g


g features
10 Things to Know About Buying Auto Insurance

The Policies You Need!

Details to Review About Your Insurance Policy

Archives | Site Map

forum
Forum
email
Contact

Past Issues
memberscenter


vote
Poetry
Daily
Weekly
Monthly
Less than Monthly



BellaOnline on Facebook
g


| About BellaOnline | Privacy Policy | Advertising | Become an Editor |
Website copyright © 2014 Minerva WebWorks LLC. All rights reserved.


BellaOnline Editor