Business Owners Policy Insurance in Annapolis and all Maryland Residents
Business Owners Policy Insurance Quote Forms
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Business Owners Policy Insurance Information
A business owners policy (BOP) combines several key coverages, including general liability insurance, commercial property insurance and business interruption insurance. By bundling these coverages, BOPs can offer small- and medium-sized companies a simplified process and lower rates than if they were to purchase each form of coverage separately.
What Is Covered By BOPs?
BOPs may be valuable and suitable investments for many different organizations. The trio of coverages included in these packages are generally advisable inclusions in most business’s insurance portfolios and can help provide financial assistance in the following ways:
- General liability insurance—If a policyholder is at fault for the losses of a third party, this coverage can help pay for the following:
- Medical expenses
- Lost income
- Property damage
- Legal costs
- Commercial property insurance—This coverage can compensate a business for losses involving its physical property, such as the following:
- Buildings
- Equipment
- Inventory
- Furniture
- Business interruption insurance—This part of a BOP can insulate a company from losses arising from a temporary stoppage or alteration in its normal operations, including the following:
- Rent/mortgage payments
- Lost income
- Employee payroll
- Tax/loan payments
Who Needs a BOP?
Small- and medium-sized businesses across all industries may find significant value in purchasing and maintaining a BOP. A BOP’s combination of coverages can cast a wide safety net across many common risks and exposures that might transcend industry lines. Although additional insurance may be necessary to fill any remaining coverage gaps, BOPs can provide an excellent start to assembling a suitable coverage portfolio.
Get the Right Coverage
For over 35 years, Deale & Associates Insurance Agency has dedicated itself to serving individuals, families and businesses in Annapolis and throughout Maryland. Our agents draw on this extensive experience to ensure organizations fully understand their insurance needs and options, such as BOPs. Contact us today to get started.
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