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Home > Commercial-Products > Coverage-For-Your-Business > Business Owners Policy (BOP) - Westlake OH & Avon OH

Business Owners Policies (BOP) in Westlake, OH

For many people, owning their own business is a dream. Being in charge of your own company can be lucrative and exciting as well as risky. If you tie your financial interests to a business, you will also be subject to risks and exposures. Fortunately, there are many ways to protect the finances of both yourself and your company, such as acquiring a suitable business owners insurance policy (BOP).

What Is a BOP?

BOPs are a type of insurance policy generally intended for small- and medium-sized businesses. These arrangements can provide robust and diverse protection from financial damages arising from many common incidents. By bundling several integral types of coverage into a single policy, BOPs offer a convenient and cost-effective insurance solution.

What Does a BOP Cover?

No two businesses have the same insurance needs; however, many businesses will find that the coverages included in a BOP are helpful. In general, a suitable BOP will consist of the following types of coverage:

·        General liability—This coverage can help pay for a third party’s losses arising from incidents for which your business is responsible, such as the following:

o   Bodily injury

o   Property damage

o   Personal and advertising injury

·        Commercial property—This coverage provides financial assistance if property used to operate your business is lost or damaged, including the following:

o   Structures

o   Equipment

o   Inventory

o   Tools

o   Furniture

·        Business interruption—This coverage can help pay for the following expenses or losses arising from a temporary pause in your business’s operations:

o   Rent

o   Mortgage payments

o   Tax payments

o   Loan payments

o   Lost income

o   Employee payroll

o   Temporary relocation

While BOPs generally include these core coverages, you may also need additional coverage, such as the following:

·        Workers’ compensation insurance

·        Professional liability insurance (also known as errors and omissions insurance)

·        Commercial auto insurance

·        Cyber liability insurance

·        Directors and officers liability insurance

·        Employment practices liability insurance

Get the Right Coverage

The insurance experts at McCallum Agency have over 50 combined years of experience helping businesses in the Westlake and Avon areas assess and address their coverage needs. Our agents will take the time to analyze your company and ensure that you have suitable coverage to protect its finances and future.

Contact us today to get started.

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27570 Detroit Ave | Westlake, OH 44145
P: 440-899-2700 | F: 440-899-7755
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