Business Insurance

General Liability Insurance provides coverage for claims related to third-party bodily injury, property damage, and personal or advertising injury caused by your business operations. A Business Owner’s Policy (BOP), on the other hand, combines General Liability Insurance with Commercial Property Insurance and Business Interruption Insurance into a single, comprehensive package. Essentially, a BOP offers broader protection by including coverage for your business property and income in addition to general liability.

General Liability Insurance is crucial for businesses as it protects against financial losses resulting from claims of bodily injury, property damage, and personal or advertising injury. This coverage helps safeguard your business assets and ensures operational continuity in the face of unexpected lawsuits.

A BOP typically covers general liability, commercial property, and business interruption insurance. This means it protects your business from claims related to third-party injuries, property damage to your business premises, and lost income due to covered perils that disrupt your operations.

Small to medium-sized businesses that face risks such as property damage, liability claims, or business interruption should consider a BOP. This includes retail stores, restaurants, offices, and other businesses that have physical locations and assets to protect.

The cost of General Liability Insurance varies depending on factors like the size of your business, industry, location, and coverage limits. On average, small businesses might pay between $400 to $2,000 annually.

Yes, most insurance providers allow you to customize your BOP to fit your specific business needs. You can add endorsements or additional coverages like cyber liability, equipment breakdown, or professional liability to enhance your protection.

Workers’ Compensation is typically not included in a BOP and must be purchased separately. It is mandatory for businesses with employees and covers medical expenses and lost wages for workers injured on the job.

Yes, home-based businesses should consider General Liability Insurance. Homeowner’s insurance policies often do not cover business-related claims, so obtaining separate coverage helps protect against liability risks associated with your business activities.

To file a claim on your BOP, contact your insurance provider as soon as possible with detailed information about the incident. Provide any necessary documentation, such as photos, receipts, or witness statements, to support your claim and expedite the process.

You can obtain a BOP quote by contacting licensed insurance agents or brokers who specialize in commercial insurance (like us!).