Did you know that one disaster can wipe out the profits and assets of your business, as well as destroy your life’s work? Don’t let the effort and money you have invested in your business disappear in a moment of disaster because you do not have appropriate business coverage.  Even if you never experience a disaster, coverage above and beyond workers’ compensation insurance may be required to ensure the assets of your business are adequately protected.  A Business Owner’s Policy (also referred to as a “BOP”) is a business insurance package that combines the protection of all major liability and property risks into one policy. The experts at Eichberg Associates, Inc. will work with you to determine the coverage and options needed to protect your small-to-medium-sized business with a Business Owner’s Policy.

What type of protection does this policy provide?

The protection offered under a BOP fall under two general categories – General Liability and Property Coverage. For more information, please review the information on each of those insurance types under the Business Lines section of our website.

Your BOP can be customized to suit your individual needs with supplemental coverage for protection in situations such as:

  • Electronic data loss
  • An office building you own
  • Personal or rented vehicle used for business but not owned by your business
  • Commercial crime … and more

What damages are covered by a BOP?

Property Damage:  Including fire, theft or other incidents that damage the physical assets of the business and coverage for physical damage to the property as well as the customer’s property.

Legal Costs:  Including attorney fees, witness fees, and settlement costs

Medical Costs:  Including medical costs for those who may have been injured while on company property, including customers and employees.

Business Interruption:  In the event your business is unable to operate due to a major disaster, the insurance would reimburse the company for its losses as well as for the profits that would have been earned during that time.

Other Damages:  Depending on what supplemental coverages, if any, you have elected.

Who needs a BOP?

Owners of small-to-medium-sized businesses should consider a BOP if:

  • You need to save money by combining insurance coverages into one package
  • You need to secure affordable General Liability protection
  • You lease or own business equipment (furniture, tools, computers …etc.)
  • You lease or own your business property
  • You maintain an inventory and/or other physical assets

Why purchase a Business Owner Package?

For many business owners, their life, their income and their future are wrapped up in their businesses.  Could you pay a large liability claim and not wipe out your business?  Could you withstand an interruption or total loss of your business?  A “no” answer to either or both of those questions is why you need the protection and peace of mind of a BOP.


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