Commercial
Business Owner's Policies (BOP) By combining property insurance and general liability coverage into a BOP, many companies can get appropriate business liability coverage at a lower cost than they would by buying two separate policies.
However, if a BOP coverage limits would be less than your company’s potential liabilities, it may make sense to pay an additional premium for umbrella coverage. Such policies cover the gap between an underlying policy’s limits and an awarded claim for general liability, hired and non-owned auto liability, and employer's liability. Keep in mind, however, that umbrella policies do not cover professional liability claims.
Working with multiple agencies? Some businesses may pick and choose policies from different agencies in an effort to find the lowest rates for the various types of business insurance coverage they need. But there’s more to the equation than just cost.
When you buy all of your business insurance from a single agency or brokerage, your agent can ensure that you have no coverage gaps, and give you peace of mind that you’re not paying extra for redundant coverage. Plus, when it’s time to update or renew your small business insurance coverage, you need only make one simple contact to ensure that your coverage continues to meet all of your needs as your business grows.
However, if a BOP coverage limits would be less than your company’s potential liabilities, it may make sense to pay an additional premium for umbrella coverage. Such policies cover the gap between an underlying policy’s limits and an awarded claim for general liability, hired and non-owned auto liability, and employer's liability. Keep in mind, however, that umbrella policies do not cover professional liability claims.
Working with multiple agencies? Some businesses may pick and choose policies from different agencies in an effort to find the lowest rates for the various types of business insurance coverage they need. But there’s more to the equation than just cost.
When you buy all of your business insurance from a single agency or brokerage, your agent can ensure that you have no coverage gaps, and give you peace of mind that you’re not paying extra for redundant coverage. Plus, when it’s time to update or renew your small business insurance coverage, you need only make one simple contact to ensure that your coverage continues to meet all of your needs as your business grows.
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