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Topics: Business Owner's Policy
Summary: There are several reasons small business owners should consider combining insurance coverage into one convenient businessowners policy, or BOP. This article breaks down the top three reasons.
As a general standard, business owners are a tough bunch. It takes grit and guts to embark on a business journey, and it’s not all glory and sunshine. Running a business is hard work. Not only is a business owner responsible for the livelihood of their employees, but they’re also responsible to their clients and customers to keep the lights on and the doors open.
With an AmTrust Businessowners Policy, or BOP, small business owners can help make sure that even if the worst happens, the business can still keep running. Why do you need a BOP? Keep reading to find out.
You hope it never happens. You have fair business practices and pricing. You make sure that all of your employees are educated on the policies and procedures of your business. But it can happen to anyone; a lawsuit is an expensive, inevitable and something you should be prepared for.
The single biggest benefit of a BOP is that it allows you to protect your company and your assets in the event of an expensive lawsuit. General liability is one part of a BOP, and it is designed to cover third parties who harm themselves or are harmed on your company property. If a product isn’t assembled properly, or a storage rack topples over, your BOP coverage will help ensure that your business is protected.
Keeping expenses low is the best way to keep the business income high. But how can you do that if you’re paying too much for your business insurance policies? BOP coverage makes it easier and more affordable to maintain the coverages you need by bundling the products most small business owners need to protect their business.
Because a BOP bundles general liability, property insurance and business interruption together, you get the benefit of getting a one policy for one low price. Additional discounts may be available, including 10% off your BOP policy premium just for writing a companion AmTrust Workers' Compensation policy.
How much would you pay for peace of mind when it comes to your business? BOP coverage makes it easy to maintain all of the common coverage businesses like yours need without thinking twice about it. Instead of managing multiple policies with multiple carriers, a BOP means you have one policy, one carrier, and one easy process for getting claims covered.
Businesses small and large benefit from the cost-savings that an AmTrust Businessowners Policy has to offer. Whether you’re just starting out with a small budget and just one client, or you’re about to launch a second location, your business is close to your heart. Protect your company and your assets with an AmTrust BOP.
To learn more, please contact us today or connect with an AmTrust appointed agent.
As the holiday shopping season winds down, small retailers and wholesalers know now more than ever the importance of BOP coverage for small businesses. A BOP ensures that your business is covered in the event of an accident or injury on your property, damage due to illegal activity, or business closure due to natural events. Keep reading to find out how retailers and wholesalers benefit from coverage.