How small businesses can benefit from BOP coverage.

If you own a small business, then you have a lot on your plate.  The last thing that you want to do is deal with complicated commercial insurance policies.  While you obviously cannot forgo insurance completely, there are some things that you can do to make your coverage more straightforward.  For instance, securing a business owners policy, or BOP, is a great way to combine the most essential commercial coverages into a single, easy-to-manage policy.  Here's what you need to know about BOP coverage. What is a BOP? A BOP is a commercial insurance option that combines the most essential types of business insurance into a single policy.  When you secure coverage with a BOP, you can save money and will have an easier time managing your coverage.  Generally, BOPs consist of the following three coverages:

• General liability- This type of insurance offers coverage for third-party injuries or property damage that take place on your business's property.
• Commercial property- This type of insurance offers coverage in the event that your business's building, equipment, inventory, supplies, furniture, or other equipment is damaged due to a covered peril.
• Business interruption- This type of insurance offers coverage if a damage situation or other emergency event disrupts your business's ability to operate. This type of coverage will help you address recurring costs (such as rent and employee wages) if your business does not have revenue coming in.

Do I need this coverage? It is true that business owners are not legally required to carry a BOP.  Business owners can choose to secure these coverages individually or even forgo coverage altogether.  However, BOPs remain a great solution if you are running a smaller commercial operation.  Not only does a BOP make these essential commercial coverages more affordable, but these coverages are also easier to manage because they are offered under a single policy. This is what you need to know about BOP coverage.  Do you need help securing the right commercial coverage for your business?  If so, then contact the experts at Weeks & Associates Insurance Services in Thousand Oaks, California.  We are ready to assist you with all your business insurance needs today.