Business Owners Policy insurance coverage

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As a business owner, you’re responsible for identifying and managing risks that could undermine the success of the business you’ve built with your own two hands. A Business Owners Policy (BOP) financially protects small and medium-sized businesses like yours from some of the most common risks you face every day, including harm to others or to your property. BOP insurance coverage is a convenient and affordable way to combine multiple types of insurance into a single policy.

What does BOP insurance cover?

BOP insurance coverage combines two of the most important types of insurance businesses need — general liability insurance and commercial property insurance — into a single policy. Here’s what’s included:

General liability insurance: Protects your business against the financial impact of third-party liability involving claims of bodily injury, property damage, and personal and advertising injury. If you run a carpet cleaning business, for example, and one of your customers steps from the wet carpet onto a tiled floor and slips, general liability insurance may cover their resulting medical costs. Or let’s say you treat a stain a little too aggressively and ruin an expensive carpet. General liability insurance can cover the replacement costs.

Also, if your business gets sued, which is a pretty common occurrence these days, general liability insurance will provide your legal defense (even if the claim is frivolous) and will settle claims when you are found to be liable.

Commercial property insurance: Covers your building (if you own it) and the contents inside your building or within 100 feet of your premises, (whether you own your building or not). If you own a restaurant, for example, and a storm damages the new signage you just paid for, commercial property insurance can cover the costs to repair or replace it.

Business interruption insurance: A key part of commercial property insurance, business interruption insurance covers the loss of business income due to a covered event, like a fire or a storm, until you can safely reopen again. It will cover your continuing expenses as well, which can be a huge help to business owners when they’re not earning income due to a temporary closure of their business.

BOP insurance coverage can include optional add-ons, such as:

  • Equipment breakdown insurance: Protects you from loss of or damage to mechanical or electrical machinery caused by a mechanical breakdown or electrical failure. If you run a carpentry business, for example, and your laser cutter malfunctions, equipment breakdown insurance can cover the cost to repair or replace it.
  • Hired and non-owned auto insurance: If you get into an accident while conducting work-related business in a vehicle not owned by your company, such as a leased vehicle or even your personal auto, your business can be sued. Say you own a yoga studio and you get into an accident on the way to the bank while driving your own vehicle, hired and non-owned auto insurance can safeguard your business from liabilities that may arise as a result of the accident.

How do you get BOP insurance coverage?

With Thimble, getting BOP insurance coverage is as simple as clicking on “Get a Quote” or downloading our free app. Instead of waiting around for the other guys to call you back, we’ll ask you a few simple questions about your business so that you can get the coverage you need in only a matter of minutes. It doesn’t get much easier than that!

Quick-thinking insurance for your fast-moving business

Business owners can conveniently and affordably add a broad layer of protection to their business with BOP insurance coverage, which combines general liability insurance with commercial property insurance so you’re covered for the financial consequences of expensive lawsuits and property damage.

At Thimble, we put you in the driver’s seat so that you’re in control as you grow. You can modify, pause, or cancel coverage instantly, whether work slows down or heats up. And, remember, it’s simple – just click “Get a Quote” or download our app. We’ll get you covered quickly so you can get back to business safely.