A Business Owner’s Policy (BOP) combines business property and business liability insurance into one convenient policy. BOP Insurance helps cover your business from claims resulting from things like fire, theft or another covered disaster and from claims involving bodily injury, property damage and personal and advertising injury that could arise from your business’ operations.
Businesses can tailor a Business Owner’s Policy (BOP) to help meet their unique needs by adding optional coverages like data breach, business income for off-premises utility services and other specialized coverages to their BOP.
You should consider a business owner’s insurance policy if:
Purchasing a BOP is smart and convenient. It simplifies coverage needs by including business property and business liability, two important coverages that most businesses need, in one policy. Compared to purchasing separate policies for business property and business liability, our Business Owner's Policy (BOP) offers businesses a way to save money while getting broad coverage for things like fire, theft, lawsuits and loss of income. It’s an even smarter and more convenient choice because other important coverages can be added to it. Businesses with specific needs can tailor their business owner’s policy (BOP) by adding additional coverages like business income for off-premises utility services, data breach and more, to suit the particular needs of their company.
Business Owner’s insurance typically includes Commercial Property insurance, General Liability Insurance and Business Income insurance:
There are additional coverages that you can add to your business owner’s policy to help to tailor coverage to your specific needs. Here are two popular optional coverages that are frequently added to a Business Owner’s Policy:
Data Breach Coverage
Any business that handles or stores private customer, patient or employee information is at risk for a data breach. When this sensitive information is lost or stolen, it’s important to act quickly to restore confidence in your business. If a breach occurs, T. L. Brown’s Data breach coverage can help pay for the expenses to notify impacted individuals, engage credit monitoring services (if warranted), public relations and more. We also offer coverage to help with defense and settlement or judgment costs in the event your business is sued because of a breach. And coverage is provided even if private data is stored internationally. Additional coverage options can help:
Data Breach coverage from T. L. Brown Insurance Group includes access to professionals who can help guide you on how to prevent breaches and how to manage should one occur.
Professional Liability (Errors and Omissions) Coverage
You put your professional judgment and expertise on the line just about every day. Even if you’ve done nothing wrong, your business can be sued by a customer or client claiming a negligent act, error or omission in the professional services you provided. Add Professional Liability (Errors and Omissions) coverage to your BOP insurance to help protect your business from this type of claim. Some types of businesses may not be eligible for this coverage.
For businesses with employees, Workers’ Compensation Insurance is important. Purchased separately from a Business Owner’s Policy (BOP)and mandatory in most states, Workers’ Compensation coverage pays an employee or employee’s family for medical costs in the event of a work-related injury, illness or death. Workers’ Compensation also helps cover an employee’s income if they are out of work due to a covered illness or injury.
For companies that use cars and trucks for their business, Commercial Auto Insurance from T. L. Brown Insurance Group is another important policy you should consider. Help protect your business from the potentially devastating financial losses your company could incur if you are or an employee is found at fault for an auto accident.