All businesses, including small businesses, are exposed to at least some risks. An unexpected accident, natural disaster, or other event can strike almost any business at almost any time. To help protect small businesses in Denver, CO, we at AFI Insurance often recommend a BOP insurance policy. This is a fundamental commercial insurance solution that meets many small businesses’ coverage needs.
Understanding BOP: What is a Business Owner’s Policy?
A business owner policy (BOP) is a specialized insurance policy designed to provide small businesses with essential coverage in a single, convenient package. By combining liability and property coverages, a BOP can protect against multiple risks that most companies face.
In addition to being convenient, purchasing a BOP usually costs a little less than getting each coverage individually. Bundling coverages in a single policy often provides some savings.
The commercial insurance coverages in a BOP can vary, but they typically include general liability, commercial property, and other optional protections.
General Liability Insurance: Protecting Against Third-Party Claims
General liability is commercial insurance that helps safeguard small businesses from certain third-party claims of bodily injury, property damage, defamation, and advertising injury. “Slip and fall” accidents and other common accidents that cause injury or damage to another party may be covered, as may defamation lawsuits.
Property Insurance: Safeguarding Physical Assets
Property insurance can protect small businesses’ physical assets, such as buildings, equipment, inventory, and furniture. With coverage against perils like fire, theft, vandalism, and natural disasters, property coverage can help businesses recover if something happens to their investments.
Customized Coverage Options: Tailoring BOP to Your Needs
In addition to these two protections, a BOP might also offer business income coverage, commercial auto coverage, or other protections. We at AFI Insurance can help you find the right ones for your Denver, CO business. Contact us today to find the insurance that your small business needs.
