Combined Coverage for Special Advantages.

All businesses should take time to assess their risks and exposures and address them with adequate loss control measures. Inevitable accidents and errors may occur regardless of how cautious or experienced the business. The resulting financial losses could be significant enough to upend an organization’s financial wellness and even jeopardize its future. Fortunately, a business owners insurance policy (BOP) can provide essential financial protection.  

What Is a BOP? 
BOPs are a multifaceted form of insurance with several key coverages that may suit businesses across many industries. These arrangements are typically intended for small- and medium-sized organizations and provide a cost-effective and convenient solution for many common risks and exposures.  

What Does a BOP Cover? 
The specific details, capabilities and limitations of a BOP may vary by insurer, but typically these policies include the following coverages: 

• General liability insurance—This component of a BOP can help pay for third-party losses for which a policyholder is responsible, such as those arising from the following:
  • Bodily injury
  • Property damage
  • Personal and advertising injury (e.g., slander, libel, false advertising and copyright infringement)
• Commercial property insurance—Also known as business property insurance, this coverage may help pay for losses involving a policyholder’s owned or rented physical assets, such as the following:
  • Buildings
  • Electronics
  • Equipment
  • Inventory
  • Furniture
• Business interruption insurance—This coverage may help policyholders absorb certain expenses or financial losses resulting from a delay or disruption of their normal operations, including the following:
  • Rent and mortgage payments
  • Lost income
  • Employee wages
  • Loan payments
  • Tax payments 

While the aforementioned trio of coverages is typically included in most BOPs, organizations may have the opportunity to add additional insurance, such as workers’ compensation and commercial auto. 

Who Needs a BOP? 
BOPs should be considered an integral component of any eligible small- or medium-sized business’s loss control measures. The coverage included in BOPs may make all the difference in the aftermath of an incident that could otherwise lead to devastating out-of-pocket financial losses.  

Get the Right Coverage 
Having served the Ottumwa and Bloomfield areas since 1960, the dedicated staff at McCune and Reed Insurance is well-equipped to help businesses, families and individuals acquire ideal coverage. Contact us today to get started.