Small Business Protection in Massachusetts
There are so many coverage policies out there. As a small-medium sized business owner, your risks should be managed with a Business Owners Policy, saving you time and money. Making life Easier- BOP’s combine property and liability insurance coverage to cover the broad exposures most small businesses face. Lets go over the basics.
Business Owner’s Policies cover the named insured and named additional insured on the policy. Many carriers are now offering blanket additional insured on their BOP’s. Ask us about it!
BOP’s can insure-
- Property (the building and contents owned by the company)
- Business Interruptions (the loss of income due to a covered loss, as well as the extra expense of operating out of temporary locations)
- Liability (the company’s legal responsibility for the harm it my cause to others)- whether it be something your company or employees did or are responsible for causing bodily injury to others or property damage of others from defective products, faulty installations and errors in service, as well as personal injuries like libel or slander.
- Customers injured on your premise
- Storm Damage
- and other covered losses specific to your tailored policy…
The BOP covers your business at the business premise. Some carriers provide coverage at temporary locations subject the the policies language.
Tailor Your Policy to Your Needs:
What makes the BOP great is it’s flexibility. Often, carriers allow business owners to customize their BOP to fit their specific exposures that may not be covered with the standard BOP coverage’s. This aspect of customization allows you to still save money by only purchasing one policy. Some additions to your policy, depending on the carriers options, may include:
- Employment Practices Liability
- Hired and Non-Owned Auto
- Liquor Liability
- Inland Marine