Family Auto Insurance Agency
  • Home
  • Online Quote
    • Auto Quotes >
      • Auto Insurance Quote
      • ATV Insurance Quote
      • Roadside Assistance Quote
      • Motorcycle Quote
      • RV Insurance Quote
    • Business Quotes >
      • Business Insurance Quote
      • Business Owners Package (BOP) Insurance Quote
      • Group Benefits Insurance Quote
      • Workers Compensation Quote
    • Property Quotes >
      • Home Insurance Quote
      • Earthquake Insurance Quote
      • Flood Insurance Quote
      • Landlords Insurance Quote
      • Renters Insurance Quote
    • Other Quotes >
      • Boat Insurance Quote
      • Event Insurance Quote
      • Umbrella Insurance Quote
  • Service
    • Report a Claim
    • Make a Payment
    • Update Contact Info
    • Policy Changes
    • Proof of Insurance
    • Client Center
    • Policy Review
    • Online Documents
    • Free Consultation
  • Insurance
    • Vehicles >
      • Auto Insurance
      • ATV Insurance
      • Boat Insurance
      • Motorcycle Insurance
      • Roadside Assistance
      • RV Insurance
    • Business >
      • Business Insurance
      • Business Owners Package (BOP) Insurance
      • Group Benefits
      • Workers Compensation
    • Property >
      • Home Insurance
      • Earthquake Insurance
      • Flood Insurance
      • Landlords Insurance
      • Renters Insurance
    • Other >
      • Event Insurance
  • About
    • Staff Directory
    • Client Testimonials
    • Refer a Friend
    • Agency Photo Gallery
    • Newsletter Signup
    • Blog
    • News
  • Contact
  • Home
  • Online Quote
    • Auto Quotes >
      • Auto Insurance Quote
      • ATV Insurance Quote
      • Roadside Assistance Quote
      • Motorcycle Quote
      • RV Insurance Quote
    • Business Quotes >
      • Business Insurance Quote
      • Business Owners Package (BOP) Insurance Quote
      • Group Benefits Insurance Quote
      • Workers Compensation Quote
    • Property Quotes >
      • Home Insurance Quote
      • Earthquake Insurance Quote
      • Flood Insurance Quote
      • Landlords Insurance Quote
      • Renters Insurance Quote
    • Other Quotes >
      • Boat Insurance Quote
      • Event Insurance Quote
      • Umbrella Insurance Quote
  • Service
    • Report a Claim
    • Make a Payment
    • Update Contact Info
    • Policy Changes
    • Proof of Insurance
    • Client Center
    • Policy Review
    • Online Documents
    • Free Consultation
  • Insurance
    • Vehicles >
      • Auto Insurance
      • ATV Insurance
      • Boat Insurance
      • Motorcycle Insurance
      • Roadside Assistance
      • RV Insurance
    • Business >
      • Business Insurance
      • Business Owners Package (BOP) Insurance
      • Group Benefits
      • Workers Compensation
    • Property >
      • Home Insurance
      • Earthquake Insurance
      • Flood Insurance
      • Landlords Insurance
      • Renters Insurance
    • Other >
      • Event Insurance
  • About
    • Staff Directory
    • Client Testimonials
    • Refer a Friend
    • Agency Photo Gallery
    • Newsletter Signup
    • Blog
    • News
  • Contact

Family Auto Insurance
​Agency Blog

Essential Things you Need to Know if You Buy Business Owner Policy Insurance

8/23/2020

0 Comments

 
Picture
​In the world of business, it's safe to say that taking risks will always be part of the game. But what makes a business successful is being able to calculate risks and translate it to a better outcome. Getting a business owner policy (BOP) insurance for your company is a huge step to protect you from such risks further. That's why most business operators opt to secure their stock by putting BOP on top of their priority. 

If you are wondering what's the significant chunk of subscribing to this insurance, this article will provide you with things you need to know.
Understanding the BOP
First off, if you are taking your insurance as dangerous as expanding your business network, begin with the basics. Understand what BOP offers and its general purpose. A BOP gives business owners a variety of insurance products combined into one, generally intended for small to mid-size businesses.

It usually covers your property, liability insurance, and business interruption. But to qualify for the preferential policies, your business has to meet specific eligibility criteria. 

Special Considerations 
Aside from the coverages mentioned above, your business could also add vehicle coverage, flood insurance, and crime insurance to their belt. Although the inclusion of this coverage still depends on the agreed terms between you and the insurance company. The only hindsight is that the typical coverage limit for these policies is relatively low. 

BOP Requirements
The eligibility for business owner policies is an extensive process. Not all business owners are qualified to have BOP. Generally, an insurance provider may require you to submit your business location, revenue, and business class before evaluating if you met the criteria to qualify. 

The Common Coverage
In terms of coverage, there are three standard policies that most BOP insurers will offer. These are property insurance, business interruption insurance, and liability protection. 
  • Property Insurance 
    This policy contains two distinct forms, the standard and the special. The latter, though, is often preferred as it provides a more comprehensive offer. 

  • Business Interruption Insurance 
    A business interruption insurance will cover your expenses in case a fire or catastrophe results in damage in your covered business property. In selected situations, it may also include your financial obligation for relocating to a temporary location. 

  • Liability Protection 
    This policy will cover your business' legal responsibility in case your company inflicted harm on others. 

Conclusion
With these considerations, we hope that this article gave you a more precise context of the things you will get when you eventually get a business owner policy. It is best to consult an insurance agent when choosing what coverage will fit your business needs.

At Family Auto Insurance Agency, we put our clients first by offering them policies that they can afford. Having insurance is a necessity nowadays and we're here to help you out. Learn more about our products and services by calling our agency at (313) 285-9042. You can also request a free quote by CLICKING HERE.
0 Comments



Leave a Reply.

    Contact Us

    Detroit Office:
    6442 Michigan Ave
    Detroit, MI 48210​
    (313) 285-9042

    Lincoln Park Office:
    3205 Dix Hwy 
    Lincoln Park, MI 48146
    (313) 288-1550
    Click Here to Email Us

    Archives

    November 2022
    October 2022
    September 2022
    August 2022
    July 2022
    June 2022
    May 2022
    April 2022
    March 2022
    February 2022
    January 2022
    December 2021
    November 2021
    October 2021
    September 2021
    August 2021
    July 2021
    June 2021
    May 2021
    April 2021
    March 2021
    February 2021
    January 2021
    December 2020
    November 2020
    October 2020
    September 2020
    August 2020
    July 2020
    June 2020
    May 2020
    April 2020
    March 2020
    January 2020

    Categories

    All
    Auto Insurance
    Business Insurance
    Business Owner's Package (BOP) Insurance
    FAQs
    Financial
    Flood Insurance
    Home Insurance
    Insurance
    Local
    Motorcycle Insurance
    Renters Insurance
    Safety

    RSS Feed

Navigation

Homepage
Insurance Quotes
Policy Service
Insurance Products
Contact Us
Agent Login

Connect With Us

Share This Page

Contact Us

Family Auto Insurance Agency
Detroit Office:
6442 Michigan Ave
Detroit, MI 48210​
(313) 285-9042
Lincoln Park Office:
3205 Dix Hwy 
Lincoln Park, MI 48146
(313) 288-1550
Click Here to Email Us

Location

Family Auto Insurance Agency - Detroit, MI
Review Us
Website by InsuranceSplash