Business Owner Insurance Policies
Ormond Beach, Daytona Beach, and Palm Coast, Florida
Those who own and manage a small business will often have their insurance needs met by a Business Owner Policy or BOP. Similar to a homeowners policy, this commercial grade coverage offers both property and liability protection.
Businesses such as retail stores, small and artisan contractors, dry cleaners, restaurants, offices, and convenience stores (including those with gas pumps) are eligible for this convenient style of coverage.
What Does It Cover?
Business Owner Policies will protect buildings and elements such as additions (completed or being built), indoor and outdoor fixtures, machinery and equipment, landlord furnishings, and maintenance property such as landscaping equipment.
The coverage applies to materials, equipment, supplies and temporary structures located near the insured premises, as well as outdoor furniture, floor coverings, and appliances used for refrigerating, ventilating, cooking, dishwashing, and laundering.
Both property located inside or immediately outside the covered buildings is covered. Business personal property insurance for office equipment and furniture applies to that which you own, lease, or control as long as it is being used by the business.
The liability coverage of the BOP provides comprehensive protection for claims or suits made by others. This liability covers losses that involve injury to other persons or damage to others' property.
There is some limited protection against personal injury like slander or libel or advertising injury, and losses involving an operation's products or services.
What Doesn't It Cover?
You will find there is no coverage for losses involving most vehicles (see Business Auto Insurance), money or securities, illegal contraband, land, water, crops or lawns, and boats.
Your Business Owner Policy can be supplemented to provide additional protection including accounts receivable, valuable papers and records, earthquake, spoilage, and more.
Supplemental liability coverage might be expanded to handle additional business interests, limited vehicle liability, losses related to employee situations, liquor liability, and injuries to leased employees.