A business owner’s policy, or BOP, is one of the fundamental policies that offers basic coverage that all businesses need. It’s a bundle of business coverages that are sold at a deeply discounted price in order to make it possible for business owners to purchase more easily. While it does offer a robust, suite of insurance coverages, this policy is a foundational policy and not one that will serve every possible need your business will have.
Johl & Company wants to help you get your business insurance needs off to a good start and we’ll work with you to arrange a business owner’s policy that meets a variety of needs for your business. Then we’ll work to help you identify specific additional needs your business may have outside of those covered by the BOP.
What Types of Businesses Need a BOP?
All businesses need a BOP. It is the most basic type of insurance for businesses and offers a limited amount of coverage for many of the essential insurance coverage types businesses need.
Since Johl & Company is an independent insurance agency, we can tailor your BOP to your specific profession. For instance, we can offer a business owners’ policy designed specifically for restaurants, manufacturing businesses, offices, retail stores, accounting firms, and many other businesses that may have unique needs for insurance coverage.
The short answer is that your business needs a BOP – whatever industry or field you’re in. If you own a business in today’s economic climate, you can’t afford to miss out on the standard coverages a BOP provides.
What does a BOP Cover?
There is a great deal of variation from one business owners’ policy to the next, though there are some general types of coverage that are fairly universal. These are the primary types of coverage that are fairly consistent from one policy to the next.
- Business Property Insurance
- General Business Liability Insurance
- Business Personal Property Insurance
- Business Interruption Insurance
It’s also important to understand that there are plenty of insurance coverage types that are not covered by a business owners’ policy. Things like workers’ compensation insurance, business auto insurance, professional liability or errors and omissions coverage, and cyber liability coverage, for instance, are excluded from this coverage despite the fact that most businesses need them.
Johl & Company will help you identify your needs for your business owners’ policy as well as areas where you may wish to purchase additional coverage, such as umbrella liability coverage, for added protection.
Why Call On Johl & Company for Your BOP?
Johl & Company has a long history of service to the New Jersey community. We’ve served our friends and neighbors since 1963 and look forward to many more years of service ahead. During that time, we’ve developed many loyal and satisfied customers who have left favorable reviews and feedback.
Our goal is to add you to that number. We believe we’ll do that as a result of our prompt and personal service when purchasing insurance as well as our efforts to ensure that you’re treated fairly when claims are made.
We are an independent agency with access to a wider range of insurance options than the average company agent. This allows us to build packages that are customized to the unique needs of your business and the risks your business faces rather than trying to work you into some sort of “one size fits all” policy.