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Business Owners Policy (BOP)

What is a Business Owner Policy?

A Business Owner Policy combines protection from all major property and liability risks in one package. Property insurance for buildings and contents owned by the company, business interruption insurance, which covers the loss of income resulting from a fire or other catastrophe that disrupts the operation of the business. It can also include the extra expense of operating out of a temporary location, and Liability protection, which covers your company’s legal responsibility for the harm it may cause to others. This harm is a result of things that you and your employees do or fail to do in your business operations that may cause bodily injury or property damage due to defective products, faulty installations and errors in services provided.

Why Do I Need this Coverage?

Without adequate business insurance, the outcome could be devastating. If you don’t have enough business assets to cover a loss, your personal assets may be collected. Because it only takes a single property damage or personal injury lawsuit to jeopardize your business’s future, business insurance is a must if you want to grow your business and keep your assets protected.

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Commercial General Liability Insurance

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Commercial General Liability Insurance

General liability insurance (GL) is coverage that can protect you from a variety of claims including bodily injury, property damage, personal injury and others that can arise from your business operations. General liability insurance can also protect you against any liability as a tenant if you cause damage to a property that you rent, such as by fire or other covered loss. Finally, it can also cover claims of false or misleading advertising, including libel, slander, and copyright infringement.

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