Protect your company with a business owners policy from Tipton Hill Insurance
Your business is your most valuable asset, and you have to make sure it is protected from a wide variety of risks and exposures. Shopping for insurance solutions individually may be overwhelming, so to make it easier for business owners, we work with multiple carriers nationwide to offer Business Owners Policy (BOP), where different insurance coverages are combined with additional protection in one convenient package. If you are not sure what coverage is right for your business, speak to one of our experienced representatives today and learn how BOP can protect your business.
BOP may be the perfect choice for your business if your organization is located outside of home, you have less than 100 employees and less than $5 million in sales, there is equipment or property that belongs to your business and needs protection, and you want to protect your business investments.
Things to Consider:
The most common insurance policies include bodily injury, property damage, personal or advertising injury, business’s property protection, and business income interruption. Depending on the type of your business and your risk exposures, you can always customize your BOP by adding important additional coverages to your insurance policy. Some additional coverage options you might consider include:
- Professional Liability – The policy protects your business against the claims or lawsuits regarding the damages resulting from your company’s omissions, errors, negligence, or misinterpretation. If your business offers a professional service or gives professional advice, you will especially benefit from this coverage.
- Business Income Interruption – If your business suffers a covered loss after which it is unable to operate for a certain period of time, the coverage will reimburse the income losses.
- Identity Theft – The coverage gives you a peace of mind knowing that your identity is being monitored on a regular basis for potential suspicious activity alerting you about any changes.
- Equipment Breakdown – The policy offers protection from equipment breakdowns due to motor burnout, power surges, and operation errors. It can pay for the cost of repair or replacement of damaged equipment, time and labor costs for replacement or repair, and other related expenses.
- Cyber Liability – Your customers trust your business with their information, but cyber-attacks are happening more frequently in the recent days. The policy will provide comprehensive data security services and coverages.
- Employment Practices – The coverage offers protection for employers against claims made by employees alleging wrongful termination, discrimination, harassment, and other employment-related issues. Small business owners, whose business lacks a legal department or does not include an employee handbook, will benefit from this policy the most.
Popular Coverage Options:
Purchasing Commercial Property Insurance coverage as a part of your BOP will protect your business property in the event of a covered loss. Depending on your policy, the insurance may cover theft, accidents, natural disasters, and more.
Personal & Advertising Injury Liability
The policy offers protection against the claims related to false arrest, malicious prosecution, false imprisonment, wrongful eviction, libel, invasion of privacy, slander, and copyright infringement, among others.
Bodily Injury and Medical Payments
In the event somebody suffers an injury related to your business (non-employee), the policy will protect you against liability claims as well as pay for medical expenses of the injured party.
Damage to Property of Others
In the event of damage to somebody’s property because of your business activities, the policy will protect your business against liability claims.