Business Insurance

What does a Business Insurance Policy Cover?

Insurance companies selling business insurance offer policies that combine protection from all major property and liability risks in one package called a Business Owner Policy (BOP). They also sell coverages separately called Commercial Package Policies (CPP) or Tailored Package Policies (TPP). BOP policies are created for businesses that generally face the same kind and degree of risk. Other companies might purchase a Commercial Package Policy to customize their policies to meet the special risks they face. Our agents will be able to assist you in the proper policy for your business type.

Commercial Business Policies can include:

  1. Property insurance for buildings and contents owned by the company.
  2. 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.
  3. General 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.

BOP’s, TPP’s, and CPP’s do NOT cover professional liability, auto insurance, worker’s compensation or health and disability insurance. You’ll need separate insurance policies to cover professional services, vehicles and your employees.

Source: Insurance Information Institute, Inc

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