Business Owner Policy
Although the actual areas covered by BOP’s vary from policy to policy, the most common BOP coverages include the following:
- Property Insurance: Insures losses to your business personal property and/or building property.
- Liability Insurance: Insures losses to your visitors if they get injured at your premises or if any of your products cause an injury to the consumer. Most BOP’s provide liability protection against civil suits, accidents, product liability, slander and a variety of other legal liabilities.
- Business Interruption: Provides funds to the business owner to cover expenses and to make up for lost profits if a business is closed due to a covered cause of loss.
Because most organizations own, lease, rent or otherwise use automobiles, liability arising out of the ownership or use of automobiles is a common loss exposure. Coverages such as hired and non-owned, physical damage for hired & non owned autos as well as trailers and mobile equipment can be added to commercial auto policies, but are not found in personal auto policies.
For more product information, please schedule a call with a CBE Insurance Group agent.