Business InsuranceCommercial Insurance

The Advantages of a Business Owner’s Policy 

By October 2, 2017 No Comments

Owning a business isn’t just learning what you should do come tax time, it also means investing in a worthwhile business owner’s policy. In having a BOP, you’re going to be able to protect your property, while reducing personal liability. You don’t have to be a medium to large business to have a business owner’s policy, either, as small businesses have been reaping the benefits of a BOP for decades. There are quite a few advantages to having a BOP for your business, and we’ll let you in on a few of them below.

Protection When You Make a Mistake

We know that life isn’t perfect, and owning a business is all about learning. To protect your business from these mistakes, having a business owner’s policy will allow your back to be covered when a consumer is harmed in some way shape or form. No, this doesn’t mean you’re okay with something bad happening to a consumer, and yes, you’re allowed to feel bad by not compensating, but your business doesn’t have to suffer from your learning experiences.

Do you tend to hire staff at a lower rate because you’re willing to train those who are unexperienced? Having a business owner’s policy in place to negate any staff-caused consumer mishap will allow your business to avoid liability if something should happen.

Maybe you want to protect more than consumers, and you want to protect all the items within your business – equipment, merchandise, product, and more. With a business owner’s policy, you can do just that!

Enrollment Convenience

No one likes reading through thousands of words and you may be nervous signing your name and business up for a policy that you don’t know entirely. Thankfully, business owner’s policies aren’t time consuming to sign up for, and any jargon that you don’t understand can be explained to you by a reliable representative with ease. When you invest in an “all-in-one” plan, you don’t have to worry about missing something when it comes to protecting your business.

Instead of researching and hoping you receive all of the best under one umbrella, you should invest in an all-in-one policy to prevent any liability for random mishaps. It’s important to research and talk with a representative about your business and if you qualify for a particular insurance policy that falls under the “all-in-one” niche.

Customizable and Convenient 

You may think that throwing a bunch of coverage may be expensive, but thinking ahead and making sure your business is covered, as well as your employees, will ensure that you won’t lose out on money in the end. Having a business owner’s policy set in place with everything you need will be worth it in the long-run. A customized plan that caters to you is efficient and convenient; plus, your pockets will thank you in the end! You don’t have to spend an arm and a leg to protect yours, either!

Going with the right insurance company like OIG Insurance will allow you to stay within budget for your business without burning a hole in your pocket.