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VANTAGE BUSINESS OWNERS POLICY PROGRAM (BOP)
Let us help you to plan to better enjoy the
things that are very important to you in your life.
The success of a business, whether it's a tiny
enterprise run out of a basement or a large
corporation, is largely dependent on hard work and
ingenuity. However, no matter how industrious you
are, one disaster can wipe out all your profits and
even destroy your business. The key to making sure
that all the effort and money you have invested in a
business doesn't disappear when a disaster strikes
is to protect it with the appropriate insurance.
What does a business
owners policy cover?
Insurance companies selling business insurance offer
policies that combine protection from all major
property and liability risks in one package. (They
also sell coverages separately.) One package
purchased by small and mid-sized businesses in the
business owners policy (BOP).
Package policies are created for businesses that
generally face the same kind and degree of risk.
Larger companies might purchase a commercial package
policy or customize their policies to meet the
special risks they face.
BOPS include:
- Property insurance for buildings and contents
owned by the company – there are two different
forms, standard and special, which provides more
comprehensive coverage.
- Business interruption insurance, which covers
the loss of income resulting from a fire or other
catastrophe that disrupts the operation of the
business. It can also include the extra expense of
operating out of temporary location.
- Liability protection, which covers your
company’s legal responsibility for the harm it may
cause to others. This harm is a result of things
that you and your employees do or fail to do in
your business.
Operations that may cause bodily injury or
property damage due to defective products, faulty
installations and errors in services provided. BOP’s
do not cover professional liability, auto insurance,
worker’s compensation or health and disability
insurance. You’ll need separate insurance policies
to cover professional services, vehicles and your
employees.
Please speak with a VANTAGE business
professional for a more detailed explanation of
products available to assist you in protection
planning |
