Business Owners Policy (BOP) Insurance in Bethpage, NY

There are various risks and exposures that come with normal day-to-day business operations. No matter how careful you are, a costly incident can put your finances at risk. A business owners policy (BOP) is one type of policy that can protect your organization. You may benefit from a BOP if you own a small or medium-sized business.

What Is a Business Owners Policy?

A BOP is a specialized insurance package that combines multiple essential business insurance coverages into a single policy. It is a valuable asset that can help protect businesses and provide peace of mind for owners in the face of unforeseen circumstances.

What Does a Business Owners Policy Include?

A business owners policy typically includes the following coverage:

• Property insurance can help protect the physical assets of a business from covered incidents. Types of physical assets could include buildings, equipment, inventory and furniture.
• General liability insurance may help cover legal expenses, medical costs and settlements resulting from third-party claims of bodily injury or property damage. These claims could directly result from your operations, products or services. 
• Business interruption insurance, or business income insurance, helps protect your business financially if it is forced to close temporarily following a covered loss. It can help pay recurring business expenses, such as taxes, commercial property rent and payroll.

Depending on your business’s specific needs and your insurer, you may be able to tailor your BOP to include additional coverage options such as cyber liability or employment practices liability insurance.

Who Needs a BOP?

In general, BOPs are designed for small and mid-sized businesses that meet specific eligibility criteria, and each insurance provider may have its own criteria. Contact James V. Funaro Agency today to discuss business insurance needs. Our agents can help determine if your business qualifies for a BOP and if it is the best fit for your operations.