Business Owners Policy in Cullman, AL
A business owners policy (BOP) provides three core insurance policies at a discount. Generally, a BOP includes commercial property insurance, business interruption insurance and general liability insurance policies.
Not every business can purchase a BOP; contact Jean Deese Agency in Cullman, Alabama, to find out whether this type of insurance may be a good fit for your company.
What Is a Business Owners Policy?
A BOP helps provide coverage for risks common to many small and medium-sized businesses, such as theft, liability claims, fire and business interruption losses. But not every business can purchase a BOP. Your agent can help you understand whether your company is eligible.
What Is Included in a Business Owners Policy?
BOP policies typically include the following:
· Property insurance helps pay to replace or repair a company’s property after a covered incident.
· General liability insurance helps pay for a company’s legal liability due to property damage or injury.
· Business interruption insurance helps pay regular bills if a company must shut down to allow for repairs after a covered event.
Your agent may recommend that you tailor your company’s insurance coverage to help mitigate additional risks faced by your company to include the following:
· Umbrella insurance provides coverage for claims that exceed the limits of your company’s liability policies.
· Workers compensation insurance is required in Alabama but is not automatically included with a BOP. This coverage helps pay medical bills and lost wages if your employee is injured or becomes ill in a work-related accident.
Depending on the size of your business size and industry, our agents may also recommend the following:
· Business vehicle insurance
· Cyber liability and cyber risk insurance
· Employee practices liability
· Flood insurance
· Equipment breakdown insurance
· Employment practices liability insurance
Business Owners Policy Requirements
BOPs typically help meet the needs of companies with fewer than 100 employees and less than $5 million in yearly revenue. Insurers set specific criteria about which businesses are eligible to purchase a BOP.
This prepackaged insurance isn’t a perfect fit for every company, but your agent can help you determine whether it may meet your organization’s needs.
Get a Quote for Business Insurance
Contact the Jean Deese Agency today to learn more about whether a BOP could be a good fit for your company.