What is a Business Owner’s Policy (BOP)?

You’ve worked hard to grow your small business. But how do you know you have the right type of insurance coverage for your needs and industry? That’s where having a business owner’s policy (BOP) is a good idea for most companies.

Our team at the OFS Insurance Agency LLC in Clinton, MS wants to help. We’ve put together this brief guide explaining what a business owner’s policy is and why you need one to ensure you’re protected.

What is a Business Owner’s Policy (BOP)?

A business owner’s policy (BOP) is a commercial policy that includes the benefits from both business liability and business property coverage. Often, purchasing your policy this way is much more cost-effective than buying individual ones for the same protection level.

The best part about a BOP is that it can also be customized to fit your industry and operations. If you have a physical location, you can tailor it to include situations where customers visit your business. And if you physically visit customers, there are options to extend your policy, too. There are tons of possibilities, so it is always important to talk to your agent about why a BOP is a wise idea for your business.

Why Should Small Businesses Invest in a BOP?

There are many reasons why a small business should invest in a BOP. Every industry comes with a certain amount of risk, so ensuring you have the right insurance for your needs is important. A BOP gives you the maximum amount of protection in a package that is usually quite affordable compared to dealing with having to replace business equipment out-of-pocket or settling a costly lawsuit on your own.

Are you ready to learn more about buying a commercial insurance for your small business in Clinton, MS? Please contact our team at OFS Insurance Agency LLC today for a no-obligation quote.