Business Owners Policy – Is Your Business Eligible?

A business owner’s policy, or BOP, is a type of pre-packaged insurance designed for certain types of small-business owners. The BOP allows business owners to save on liability insurance costs by bundling multiple insurance policies together for a single affordable premium.
The BOP includes:

• Commercial General Liability coverage (protection from claims of property damage and bodily injury)
• Property coverage (protection for physical assets)
• Other types of losses including advertising damage, loss of business income, etc.

Does your business qualify?
Typically, a BOP is best for small to medium sized businesses such as retail stores, condominium commercial unit owners, offices, wholesale, processing and servicing, restaurant, convenience store, contracting, etc.
Businesses must also be less than 35,000 square feet in total floor area with less than $6M in annual gross sales at each location.
Deciding whether or not a BOP is the right policy for your business comes down to eligibility and coverage. It is important to keep in mind that not every business is eligible for this type of policy.
Call Ion Insurance today and one of our local agents will help you decide which policy best suits your business!