Business Owners Policy (BOP) Insurance in Lake Oswego, Oregon
Finding the right insurance coverage is a crucial part of owning and operating your business, but insurance premiums could cut into your profits. A business owners policy (BOP) can provide the best of both worlds—essential coverage at an affordable rate for certain eligible small or medium-sized businesses. Contact Action Insurance Company in Lake Oswego, Oregon, to learn more about BOP coverage.
What Is a Business Owners Policy?
A BOP policy enables qualifying businesses to combine core business coverages into a single, convenient policy. BOP coverage is generally less expensive than purchasing each policy separately. Contact Action Insurance Company to learn if your business qualifies for BOP coverage.
What Does a Business Owners Policy Cover?
Standard BOP policies may include three primary coverages. The following are examples of business coverages that may be included in your policy:
- General liability insurance can help cover expenses (e.g., legal fees and medical bills) if your business is held liable for third-party bodily injury, property damage, personal injury or advertising injury.
- Business interruption insurance can help cover your lost income if your business is temporarily forced to shut down due to a covered loss.
- Commercial property insurance can help pay for damaged, lost or stolen business items.
Additional coverages may be available as endorsements. Review your risks carefully and discuss your coverage needs with your insurance agent.
Who Needs a Business Owners Policy?
BOP coverage is not typically required, but the included coverages may be. For example, you may need commercial property insurance if you own or rent your workspace. Some customers or clients may also mandate general liability insurance. While you could buy each policy separately, a BOP policy could be a better fit for your business.
How to Get a BOP
Contact Action Insurance Company today to learn about qualifying for a BOP and tailoring your coverage to meet the insurance needs of your business.