Often referred to as a BOP, the standard business owner’s policy is an excellent start for most businesses to meet their basic insurance needs. The reason this policy is so effective for so many businesses is that it covers many basic coverage needs, bundles several services together, and offers an affordable price point. All of these are critical for new businesses and business owners who may not be certain, at this point, of the full scope of the insurance needs of their businesses.
We believe that providing a solid foundation for your business insurance needs is vitally important. Our 50 year history of serving New Jersey businesses has helped us gain valuable insight, past and present, about the scope and scale of business insurance needs throughout the state.
What is Included in a Business Owners Policy?
There are three ,main types of business insurance that most BOP policies provide:
- General Liability Insurance
- Buildings and Business Property Coverage
- Loss of Income Coverage
This is not the only insurance you’re likely to need as a business owner – not by a long-shot, but it is a good foundation for a policy that can be easily personalized to meet the specific and unique needs of your business.
One vital type of insurance coverage that’s not available with the standard BOP is workers compensation insurance (WCI). This type of insurance is required for almost any type of business in the state of New Jersey.
Additional Insurance Coverage Businesses Need
There are many issues beyond the scope of the standard business owners insurance policy. Not all of them will apply to every business.
Keep these insurance coverages in mind as you make insurance buying decisions on behalf of your business:
- Commercial Auto Insurance
- Data Breach Insurance
- Electronic Data and Equipment Coverage
- Employment Practices Liability Insurance (Errors and Omissions)
- Flood Insurance
- Identity Theft Insurance
- Non-Owned Vehicle Liability (critical for businesses with delivery drivers)
- Umbrella Insurance (additional liability coverage)
- Valuable Papers and Records Coverage
- And more!
Don’t forget to consider industry-specific insurance needs such as insurance for restaurants (spoilage insurance, equipment breakage coverage, etc.), alcohol service (liquor liability insurance), and manufacturers (recall insurance especially).
Always consult with an independent insurance agent whenever you have questions or concerns about the type or amount of insurance coverage your business needs.
Why Turn to Us for Your Business Owner Policy?
Business insurance is a vital protection all businesses need. We understand that quite well and will use our ability to work with multiple insurance carriers to find you the best all-around business owners policy for the best rate to meet your insurance needs now, and as your business grows and expands.
Don’t leave something this important to chance by choosing cheap agencies that offer less than stellar coverage. Inexpensive insurance always makes up the difference somewhere – usually in coverage or service.
Instead, visit us online for a free, no hassle insurance rate quote and allow yourself to be impressed by our professional agents and completely wowed by our personal service. Low rate quotes aren’t everything, but we know how tight money is for businesses today. That’s why we take our time to find the best combination of costs and coverage to help protect your business interests with affordable, comprehensive insurance coverage.
CALL TODAY TO DISCUSS YOUR BUSINESS OWNERS POLICY NEEDS. OUR PROFESSIONAL AGENTS ARE HERE TO HELP!