Owning a small business is often the culmination of a dream, and often involves ups and downs, long days and nights, and sweat equity. With passion and perseverance, opening a small business usually results in personal and financial rewards. A Business Owners Policy (BOP) is a smart way to protect your venture and ensure that you’re able to enjoy the fruits of your labor even when unexpected, expensive problems arise.
What Does a Business Owner’s Policy (BOP) Cover?
According to the Insurance Information Institute (III), a business owner’s policy is insurance packaged to cover property and liability risks specific to a particular industry sector. It protects you financially from damage to your business’s building and contents, income loss due to business interruption caused by a fire or catastrophe, and legal liability in the event that you or your employees do something or fail to do something that causes bodily injury or property damage to someone. A BOP policy does not cover professional liability, worker’s comp, health, disability, or automotive claims.
Why Purchase a Business Owners Policy (BOP)? Because Life is Unpredictable!
If your small business is a startup, you probably watch your balance sheet carefully. Money is often tight for fledgling businesses. In fact, many established small businesses also experiences financial ups and downs. As you evaluate your expenses, you may wonder if you really need a BOP policy. Perhaps you’ve never had a claim before. But can you be certain you won’t have one tomorrow?
Operating without comprehensive business insurance is like playing Russian roulette with your very livelihood! Every day you face myriad risks. A car could plow into your storefront, a pipe could burst and flood your office (requiring you to shut down until repairs are complete), a customer could sue you for selling a defective product that injured him. Without insurance, one catastrophe could put you out of business.
About Walker & Associates Insurance
If you’re not sure if your insurance is sufficient, it’s smart business to have your risks evaluated by professionals you can trust. Since being founded in 1960, Walker & Associates has embraced a “service is first” philosophy. Our team is focused on ensuring that each client receives individualized guidance to preserve their assets and control their expenses. Our strong relationships with international, national, and Indiana insurance companies allow us to negotiate the best coverages, terms, and pricing for our clients. Contact us at Walker & Associates Insurance, (888) 760-7292, for all of your business and personal insurance needs.