Simple Protection for Your Business
Business Owners Policy (BOP)
A Business Owners Policy (BOP) is an all-in-one insurance package designed for small to medium-sized businesses. It combines essential coverages like property, liability, and business interruption insurance into a single, more affordable policy. Tailored to fit your specific needs, a BOP helps protect your business from a variety of risks, including property damage, income loss due to covered events, and liability for accidents or injuries on your premises. For Mississippi business owners, this policy is crucial in managing the financial risks and potential losses that come with running a business.
What’s Covered in a BOP?
General Liability Coverage
Commercial general liability insurance protects your business from common liability claims such as:
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Property damage or bodily injury due to negligence
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Personal injury (including libel or slander)
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Advertising injury (such as false advertising or limited copyright infringement)
If you’re sued or damages are filed against your business, general liability coverage helps cover the following:
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Legal defense and settlement costs
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Out-of-court settlement expenses
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Court-awarded damages if you are found liable
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Investigation and attorney fees
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Bonds, if required
This policy also covers medical expenses for nonemployee injuries on your property, even before legal action is taken.
Commercial Property Coverage
Your business is vulnerable to disasters such as fire, theft, vandalism, or explosions. Commercial property insurance ensures that you can recover from these incidents by covering the costs of repairing damaged property or replacing lost assets.
Mississippi’s Gulf Coast businesses, in particular, face heightened risks from hurricanes, tropical storms, wind, hail, and flooding. Deductibles for these events may be higher due to the increased risk. Additionally, because floods are not covered by a standard policy, you should consider adding a separate flood insurance policy.
Key coverages include:
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Building & Personal Property
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Builders Risk
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Business Income
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Extra Expense
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Legal Liability
Business Interruption Coverage
When a covered disaster disrupts your operations, business interruption insurance helps you recover lost income and cover extra expenses. This might include relocation costs, employee wages, and other expenses needed to keep your business running during the interruption.
Whether included in your BOP or purchased separately, business interruption insurance provides a financial safety net in case of unforeseen events. If your business location is damaged by a natural disaster, this coverage can help you find a temporary location, cover operational expenses, and maintain income while you rebuild.
Where Do I Start?
Navigating business insurance can be complex, especially with the weather risks in Mississippi. We’re here to assess your needs, identify potential risks, and customize a policy that provides the best protection for your business. Let’s start securing your future.
Click to get a quote online or call to speak with an agent. We’ll help you protect your business, home, auto, life, and more.