Business Owner Policy : |
| If you own a small business or if you are considering going into business for yourself in the future, it's important for you to consider what unique risks this activity might bring into your life. There are many levels of insurance than can protect you from various business risks and, although they can be much more complex than personal lines of insurance, they are well worth taking the time to understand.
A standard business owner's policy (BOP) provides coverage for property (fire, wind, theft, etc.), liability (injury of someone in your business or by your product), business interruption, and, in some cases, workers' compensation. For eligible small and medium-sized businesses, a BOP is a comprehensive package that can be a potential bargain source of insurance.
Since you can't predict when you might be hit with a natural disaster or a lawsuit, purchasing a BOP is a good way to get basic coverage when you're starting your business. No matter how remote these risks may seem, just one hurricane or one personal-injury claim can make all the difference.
The following
coverage
is typical provided on standard BOP. |
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Property covers
losses to your building and business property.
You can choose the Standard Form ("named perils"),
which covers losses from perils listed in the policy.
If you'd like broader coverage - at a higher premium
- the Special Form ("all risk") covers losses
from all causes unless the policy specifically
excludes
them. Property coverage includes your building
and premises, permanently installed machinery
and equipment (heating and air conditioning equipment,
etc.), and business personal property (furniture,
business stock, and property stored off premises).
You'll also have coverage against losses from
crime
(theft, forgery, counterfeiting, etc.) and for
income lost when your business can't operate
at full strength (Business Interruption).
-
Liability covers
the legal liability of your business for monetary
losses to third parties from a variety of causes:
Bodily Injury: Repays visitors
injured on your premises or customers injured by
a product you manufacture or sell.
Personal Injury: Covers violations of
privacy, false imprisonment (for example, detaining
a
suspected shoplifter), wrongful eviction, etc.
Advertising Injury: Pays for losses due
to the written or spoken words of you or your
employees (slander, libel, copyright infringement,
etc.).
-
Optional
Coverage For an
extra premium, you can add such
Coverage as:
Employee Dishonesty: Covers losses to money,
securities, and other property due to employee
theft.
Burglary and Robbery (added to the Standard
Form): Covers loss or damage to your business
personal property, including money and securities,
on and off premises.
Mechanical Breakdown: Covers property damage from the failure
of boilers, heating and air-conditioning systems,
or electrical equipment.
Outdoor
signs:
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The options, features, deductibles,
riders, and other choices associated with business insurance
can stymie even a sophisticated entrepreneur. Picking the
right kind of insurance is one of the most difficult tasks
a small business owner faces. You will need to choose from
hundreds of different classes of liability offered by the
insurance industry, while selecting policies that fit your
budget |
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Business Owner's insurance is a relatively one of the best purchases you'll
make for your business. Please ensure you complete the quotation form below
as accurately as possible. If you would rather speak to one of our representatives,
please Call (973) 836-0310 or e-mail: business@horizoncoast.com to
setup a confidential consultation. |
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| Completion of this form is for informational purposes only, and is just an estimate and is not a statement of contract. Coverage may not apply in all states. This WILL NOT result in a new policy, or change to an existing policy. For complete details of coverage, conditions, limits and losses not covered, be sure to read the policy, including all endorsements |
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