Home » Blog

Blog

BOP Retail Business Insurance — What It Covers & What Not

Businesses, both large and small, face many risks. Fires, burglaries, and natural disasters are just a few of them. To prevent them from getting a financial hit by unexpected losses and to protect their stores and assets, business owners need insurance. In this blog, we are going to talk about Business Owners Policy — a type of retail business insurance.

Business Owners Policy, popularly known as BOP, is an insurance policy that combines the most important coverage business owners generally need. A perfect package deal for small and medium-sized businesses, BOP covers many risks and consists of various types of insurance including:

  • Property Insurance - Property Insurance covers damage to buildings and contents owned by your company.

  • Business Interruption insurance - Business interruption insurance covers the loss of income if you are temporarily forced to shut down because of a catastrophe, such as a fire. It may also include the extra expense of operating out of a temporary location.

  • Liability insurance - Liability insurance covers the company's legal responsibility for harm caused to third parties including personal injury as well as property damage.


What BOP Does Not Cover
As an insurance buyer, we are generally only concerned with what a policy covers but we don’t give enough attention to what it does not, which often leads to assumptions. The result? Losses! The below-mentioned particulars are not covered under Business Owners Policy and must be bought separately:

  • Professional Liability

  • Auto Insurance

  • Workers Compensation

  • Health and Disability insurance


Want to get affordable retail store insurance in Jackson heights or have questions about business insurance? Turn to Linx Insurance Brokerage, INC today and find the best commercial insurance for your business.