Business Owners insurance
Business Insurance can help pay the costs of property damage, lawsuits, lost business income, and other covered losses. To help protect against specific risks unique to their situation, businesses often buy multiple coverages and combine several in one policy. A Business Owner’s Policy, for example, combines property, general liability and business income coverage into one convenient policy
Business Owners Policy
The Business Owners Policy (BOP) is a combination of business property and liability protection specifically designed to meet the insurance needs of small and mid-size businesses.
The general liability portion of a BOP safeguards your business in the event someone makes a claim against you or your business. General liability insurance provides protection from liability lawsuits resulting from things like a customer slipping on a wet floor, a defective product causing damage to a client’s property, or claims that the products or services you provided caused injury. It can also protect you from libel, slander and certain legal claims related to advertising.
The property portion of a BOP helps protect business property you own, lease, or rent, including your buildings, equipment, furniture, and inventory. It helps cover repair or replacement costs of stolen, damaged, or destroyed property, including property that isn’t yours but was in your care. It can also cover loss of income and covered expenses like rent, payroll, and other financial responsibilities while your property is being repaired or replaced after a fire or other covered loss.
Commercial Property
In addition to a standard business owners policy, business owners or managers need to be certain that you are properly covered for losses you may experience if the physical assets of your business — your building and its contents, including owned or leased equipment, and outdoor fixtures, such as fences and signs — are damaged or destroyed. Without appropriate commercial property insurance coverage, you could be putting the future of your business at risk.
General Liability
Commercial property insurance coverage may include losses resulting from weather-related events, building collapse, explosion, civil commotion, equipment breakdown, or damage caused by vehicles, vessels, aircraft, and vandalism. The amount of coverage you will need depends on factors such as the type of property and its location.
What's typically covered
Under most general liability insurance policies, your business can be protected from lawsuits resulting from:
- Bodily injuries that occur to customers, employees, vendors, or visitors on your premises
- Personal injuries sustained because of the actions or negligence of one of your employees
- Property damage caused by your employees
- Advertising injury (damage from slander or false advertising)
- The amount of coverage you will need depends on factors such as the type of business you run and its location.
Call:
(206) 594-1126
Fax:
(509) 505-5566
Email:
insurance@morelandagency.com
