Thayer Innes Insurance

3 Policies found in a Standard BOP Package

Every business owner needs to purchase insurance. With so many options, however, it can be confusing to know exactly what you need. Thayer Innes Insurance lists three common products that are typical for a business owners policy.

Commercial Property

If you own the building where your business is located, you need property coverage. It protects you from loss in the event of a fire, sudden flooding, theft or vandalism. If you work in an area that experiences frequent flooding, though, you will need a separate flood policy.

General Liability

Your business may be vulnerable to claims brought against it by visitors or customers. General liability may cover personal injury or property damage, but you may need to add professional liability or other additional coverage to your package that meets the specific risks of your industry.

Business Continuity

If your business is interrupted by significant damage to your building, you may need financial assistance to keep it afloat until things return to normal. Including business continuity coverage in your business owners package is a smart way to do that.
When you are trying to decide how much coverage your business needs, don’t forget these three policies. You may need to add other coverage, but they give you a good foundation to build on.