Most Basic Things That a Business Owner’s Insurance Policy Must Cover

Your West Hollywood small business does not need the pricing or the cumbersome insurance boilerplate of a Commercial Insurance Package policy. A Business Owner’s insurance policy, referred to as BOP insurance, will work just fine for the small business insurance needs. Aside from the low cost involved when purchasing a BOP insurance policy, the insurance coverage afforded by this Business Owner’s insurance policy is very comprehensive.

The business owner’s policy premium is driven by the property values you insure. The BOP policy does not contain a co-insurance clause. The BOP insurance may not be subject to an audit at the end of the policy term. The BOP insurance policy continuously renews, until you request that it is canceled, or if you stop paying premiums.

BOP Insurance Policy Coverages, We Offer

The Business Owner’s insurance policy sold by Makar Technique Insurance Agency in West Hollywood can insure your real and/or personal property and comes with enhancements automatically included or enhancements that can be purchased for additional coverages to be included at a nominal fee which picks up all the extras you need as a small business owner but you probably don’t think about.

Your West Hollywood Business Owner’s insurance policy will include computers and media, including laptop computers, which are covered on a worldwide basis, Employee Dishonesty, including ERISA up to $10,000 in any one occurrence, outdoor signs and landscaping, subject to a  policy limit, which is generally $5,000. Valuable Papers and Accounts Receivable insurance is included.

All Section I property coverage is subject to your deductible, which can be as low as $500 per claim.

Included is the coverage for your loss of business income and extra expense insurance for the actual loss you sustain for a period of 12 months. Depending on the insurance company you are insured with, this period could be as much as 18 or 24 months.

Section II of your Business Owner’s insurance policy provides for Liability coverage. Your deductible does not apply to this section of coverage. The limit is generally $1,000,000 for each occurrence or claim and $2,000,000 in the aggregate. The aggregate limit is the most the company will pay in any one policy term for third party liability claims against you. The liability limits can be lower and in some instances, the insurance company may offer higher limits. This section of coverage provides coverage for your premises, products and completed operations, personal and advertising injury liability. Host liquor liability is included, provided you are not in the business of selling alcoholic beverages.

As with any insurance policy, there are exclusions, restrictions, and limitations. If you provide your independent agent at Makar Technique Insurance Agency a good description of your operations, he or she will be able to get your policy as customized for you as possible. Get in touch with us today!

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