Running a business involves various risks, including property damage and potential liability claims. Securing the right insurance coverage is essential to protect your assets and ensure the long-term success of your business. At City Best Insurance Services, located in Ontario, CA, and serving the surrounding areas, we offer business insurance that acts as a safety net for small to mid-sized businesses. This coverage allows owners to concentrate on growth and daily operations without the constant concern of unexpected challenges. In this guide, we’ll explore what a Business Owners Policy (BOP) includes, the importance of additional coverages, and the best ways to insure your home-based business.
What Does a Business Owners Policy Cover?
Insurance companies offer policies that combine protection from major property and liability risks in one package. A commonly purchased package by small and mid-sized businesses is the Business Owners Policy (BOP). These policies are tailored for businesses that typically face similar kinds and degrees of risk. Larger companies may opt for a commercial package policy or customize their coverage to address their unique challenges.
BOPs typically include:
1. Property Insurance:
Covers buildings and contents owned by the company. There are two forms available: standard and special, with the latter offering more comprehensive coverage.
2. Business Interruption Insurance:
Compensates for lost income resulting from a fire or other disaster that disrupts operations. This coverage may also include the additional expenses incurred when operating from a temporary location
3. Liability Protection:
Covers your company's legal responsibilities for harm caused to others. This includes damages arising from actions or omissions by you and your employees, which may result in bodily injury or property damage due to defective products, faulty installations, or service errors.
Note: BOPs do not cover professional liability, auto insurance, workers' compensation, or health and disability insurance. Separate policies are required for these coverages.
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Contact Information
Toll-free: (800) 448-5100
Email: mhafez@citybestinsurance.com
Address: 1630 E. 4th St. Suite D Ontario California 91764
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