Combined Coverage for Special Advantages

As a business owner, you may enjoy lucrative and exciting rewards from your company’s successes and growth. However, ownership is a double-edged sword, meaning you may also bear significant consequences for business failings and shortcomings. Given these stakes and the financial ramifications of potential errors, securing appropriate insurance is critical. That’s why business owners policies (BOPs) may be essential. 

What Is a BOP? 
BOPs can provide a versatile core of your company’s insurance portfolio and loss control measures. These arrangements are composed of several common types of insurance that may include valuable coverage for many commercial enterprises. This bundling of what might otherwise be separate policies can help your company save on its overall insurance costs while also limiting the points of contact you need to maintain. 

What Does a BOP Cover? 
While the exact details, capabilities and limitations of BOPs may vary, these packages typically include at least the following types of insurance: 

• General liability insurance—This coverage can financially protect your business from incidents that affect third parties, such as customers, guests and passersby. In response, your BOP may help pay for resulting losses, such as medical expenses, property damage and legal costs.
• Commercial property insurance—This component of your BOP may provide financial assistance if a covered incident damages your business’s physical assets, including structures, electronics, equipment, inventory and furniture.
• Business interruption insurance—If a covered incident disrupts your company’s regular operations, this coverage may compensate you for ongoing expenses and resulting losses, such as rent, loan payments, employee wages and reduced revenue. 

In some cases, you may also be able to bundle additional types of insurance with your BOP, such as the following: 

• Errors and omissions insurance
• Workers’ compensation insurance
• Data breach insurance
• Commercial auto insurance 

Who Needs a BOP? 
BOPs are generally intended for small- and medium-sized enterprises. If you qualify for one of these arrangements, it may prove to be a cost-effective and convenient investment capable of securing your company’s finances and future. The importance of the coverage offered by most BOPs transcends industry lines, meaning that any eligible organization should strongly consider acquiring and maintaining a suitable policy. 

We’re Here to Help 
Having served businesses, families and individuals since 1990, the dedicated staff at Atlantic International Company of Georgia is well-equipped to assess and address coverage needs. If you own a business in the Atlanta or Sandy Springs areas, contact us today to learn more about BOPs and get a personalized quote.