Call Us 814-886-4021 ☰ ˟
Logo
Call Us 814-886-4021 814-948-8940
  • Home
  • Get a Quote
    • Automobile Insurance Home
    • Homeowners Insurance Quote
    • General Liability Insurance
  • Blog
  • Resources
    • Refer a Friend
    • Important Links
    • Insurance Glossary
  • About Us
    • About Us
    • Our Locations
    • Employee Directory
    • Customer Testimonials
    • Privacy Policy
  • Contact
    • Contact Us
    • Join Our Newsletter
Home > Blog > What Kind of Liability is Covered Under a Business Owners Policy?
FRIDAY, SEPTEMBER 11, 2020

What Kind of Liability is Covered Under a Business Owners Policy?

a person standing in front of a building

 

 

A business owners policy (BOP) is a type of insurance policy created to protect small businesses with important insurance at a more affordable price. By bundling your business’ insurance coverage's in a single BOP, you can save money as compared to purchasing every coverage separately.

 

Each BOP is different, as these policies are adjustable depending on the needs of your business. At its very basic, a BOP includes:

 

  • General Liability insurance covers claims regarding bodily injury, property damage and personal and advertising injury that are filed against the business. For example, if someone is injured in your retail store, general liability insurance can help pay for their medical expenses as well as cover the business for legal fees in case the victim decides to sue. 

  • Commercial Property insurance covers the physical property owned by the business in case of loss or damage due to fire, wind, lightning, hail, smoke, explosion, theft, vandalism and more. This can apply to the physical structure such as a restaurant, equipment, furniture, decorations, etc.

 

Most BOPs also come with business interruption insurance, which compensates the business for income lost while the business is unable to operate due to a disaster or government mandate.

 

This is the most basic form of a BOP. Many business owners choose to add coverages to their policy in order to cover against different accidents. Lawsuits, for example, are extremely dangerous for a business. A single liability claim can send a business thousands of dollars in debt. New businesses especially don’t usually have the cushion to cover expensive, uninsured lawsuits.

 

Liability coverages you may add to your business’ BOP include:

 

  • Professional Liability insurance covers accidents regarding professional negligence. If a person offering specialized or professional services causes their client to lose money due to a mistake, professional liability insurance can help compensate the business. 

  • Cyber Liability insurance covers expenses related to a cyberattack, such as PR and data recovery. 

  • Directors and Officers insurance covers the key directors and officers of a business in case they are sued directly regarding their actions while employed. This can include stock performance claims, overreaching, and human resource issues such as discrimination and sexual harassment. The latter coverage is generally known was employment practices liability and can be bought separately or as part of a directors and officers policy. 

  • Product Liability covers bodily injury and property damage caused by the business’ offered or produced products. 

 

Posted 8:20 PM

Share |


No Comments


Post a Comment
Required
Required (Not Displayed)
Required


All comments are moderated and stripped of HTML.

NOTICE: This blog and website are made available by the publisher for educational and informational purposes only. It is not be used as a substitute for competent insurance, legal, or tax advice from a licensed professional in your state. By using this blog site you understand that there is no broker client relationship between you and the blog and website publisher.
Blog Archive
  • 2022
  • 2021
  • 2020

  • insurance(8)
  • coverage(7)
  • commercial(4)
  • policy(4)
  • business(3)
  • life insurance(3)
  • business insurance(3)
  • auto insurance(2)
  • health insurance(2)
  • premiums(2)
  • homeowners(2)
  • costs(2)
  • homeowners insurance(2)
  • auto(2)
  • liability(1)
  • workers compensation(1)
  • general(1)
  • life(1)
  • healthcare(1)
  • accident(1)
  • safety(1)
  • vehicles(1)
  • general liability insurance(1)
  • bop(1)
  • commercial auto(1)
  • owners(1)
  • burglary(1)
  • workers(1)
  • employee(1)
  • car(1)
  • term life insurance(1)
  • home insurance(1)
  • accidents(1)
  • vehicle insurance(1)
  • commercial auto insurance(1)
  • compensation(1)

View Mobile Version
Carrier
Carrier
Carrier
Carrier
Carrier
Carrier
Carrier
Home| Get A Quote| Customer Service| Blog| About Us| Contact
Cresson
310 Keystone Ave | Cresson, PA 16630
Phone: 814-886-4021 | Fax: 814-464-2119
Northern Cambria
1101 Philadelphia Ave. | Northern Cambria, PA
Phone: 814-948-8940 | Fax: 814-948-8420
Social Social
Logo

Powered by Insurance Website Builder