A BOP combines liability and property insurance into one convenient, easy-to-manage bundle. Here is a summary of what is generally covered:
Why Should You Purchase BOP Insurance?
While not required by the State of Illinois, Business Owner’s Policy (BOP) coverage is highly recommended for small companies. You may think you are safe without such coverage, but what will you do if your property is damaged, your business is sued or a customer has an accident at your site? Don’t risk your livelihood and those of your employees! Be sure to protect your Illinois business with cost-effective Business Owner’s Policy insurance from B2Z Insurance.
What, Exactly, Is a Business Owner’s Policy?
A BOP offers protection in the event of customer injuries and property damage, and it also covers advertising and product-related claims. It does not cover your employees if they are injured or become ill on the job; a Workers’ Compensation policy is required for those liabilities.
This part of the BOP covers your building and business personal property, which is movable property owned and used by the business. It also reimburses you for expenses related to loss of income and cleanup as well as construction costs incurred following a covered event.