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.