As a business owner, you must take appropriate measures to protect your commercial and personal interests financially. Incidents involving your company could have far-reaching ramifications that may destabilize the fiscal stability of both your career and personal life, potentially leading to significant hardship. With this in mind, a business owners policy (BOP) may be a crucial insurance investment. 

What Is a Business Owners Policy? 
A BOP may be integral to many organizations’ business insurance portfolios. These arrangements bundle several essential coverages under a single insurance product, often leading to overall cost savings, less paperwork and fewer contacts with whom to communicate. These policies are typically available to small- and medium-sized enterprises. 

What Is Included in a Business Owners Policy? 
The exact contents and capabilities of a BOP may vary depending on your insurance carrier, as well as your needs, preferences and budget; however, the following components are often included: 

• General liability insurance can provide financial protection from incidents affecting third parties, such as bodily injuries or property damage. 
• Commercial property insurance can help pay for losses and damages involving your company’s own property, including buildings, equipment and inventory.
• Business interruption insurance can compensate your organization for ongoing expenses and losses arising from disruptions of normal operations, such as loan payments, payroll and lost revenue. 

How Much Does a Business Owners Policy Cost? 
When assessing your business’s risks and exposures and quoting your rate for appropriate BOP coverage, insurance companies may consider the following factors: 

• Location
• Industry 
• Workforce Size Estimated Annual Revenue
• Value of Business Assets
• Prior Claims History
• Policy details (e.g., coverage limits, deductibles and endorsements) 

Get the Right Coverage 
At Stewart Kriese Insurance Agency, we are providing commercial coverage solutions in Oakdale, CA and Modesto, CA. Contact us today to learn more about BOPs and secure appropriate insurance.