What’s a BOP in my Georgia business insurance?
10/7/2011 12:00:00 AM
If you have spent any amount of time researching particular types of Georgia business insurance, you may have come across something called a BOP. Curious? To clarify, BOP stands for “business owner’s policy,” and it’s a bundle of various insurance policies that companies offer to small- and medium-size businesses that meet certain criteria.
While a BOP is available through most insurance providers, the specific inclusions will vary. As a very basic guideline, they will include property insurance (for your business premises, furniture, equipment, machinery and raw materials), liability insurance (in the event you are sued for personal injury or property damage) and possibly business income insurance (for potential loss of income following a disaster). It’s likely there will be other types of insurance included in the package.
BOPs may be available to suit specific types of businesses such as those that are involved in construction, law or beauty services. However, eligibility will depend on a number of factors, including the size of your business, the level of liability coverage required and the extent you or your employees’ offsite work.
It’s also worth noting that a BOP will probably not cover all of your requirements. Certain forms of Georgia business insurance such as workers’ compensation and auto insurance will need to be purchased separately. Your best bet could be to contact your local agent to check on what you may be eligible for. It’s likely to save you time, energy and money.
While a BOP is available through most insurance providers, the specific inclusions will vary. As a very basic guideline, they will include property insurance (for your business premises, furniture, equipment, machinery and raw materials), liability insurance (in the event you are sued for personal injury or property damage) and possibly business income insurance (for potential loss of income following a disaster). It’s likely there will be other types of insurance included in the package.
BOPs may be available to suit specific types of businesses such as those that are involved in construction, law or beauty services. However, eligibility will depend on a number of factors, including the size of your business, the level of liability coverage required and the extent you or your employees’ offsite work.
It’s also worth noting that a BOP will probably not cover all of your requirements. Certain forms of Georgia business insurance such as workers’ compensation and auto insurance will need to be purchased separately. Your best bet could be to contact your local agent to check on what you may be eligible for. It’s likely to save you time, energy and money.