Business owners policies (BOPs) are a popular insurance choice for many small and medium-sized businesses in Aurora, CO. Here’s what coverages BOPs commonly include.
Overview of BOPs
A BOP bundles various types of insurance coverage into one package, making it a cost-effective and convenient option for business insurance. These tend to be basic coverages that most small businesses need. While BOPs are customizable, they typically focus on a few critical protections:
- Property Insurance: Normally covers damage to buildings, equipment, and inventory.
- Business Interruption Insurance: Business income insurance normally covers lost income and additional expenses when your business cannot operate due to a covered event, such as a fire or natural disaster.
- Liability Protection: Normally covers your business in case of lawsuits for bodily injury, property damage, or personal and advertising injury. This would likely cover a slip-and-fall accident on your business’s property if you have a physical location in Aurora, CO.
Additional Coverages and Customization
While these are the core coverages, some BOPs can be customized with additional protections. Options can vary, but they might include
- Commercial Auto Insurance: This is likely required if your business has a commercially registered vehicle.
- Cyber Liability Insurance: Likely crucial if your business handles sensitive customer data.
- Professional Liability Insurance: Likely important if you provide professional services.
Wee at All-Star Insurance Brokers Inc. can help with all these coverages if your business needs them.
Learn More About BOPs
Are you interested in learning more about BOPs and how they can safeguard your business? Contact All-Star Insurance Brokers Inc. and one of our agents will gladly help you decide whether this is the right type of insurance for your business.