Business Owner's Policy Insurance - South Carolina
Serving Mount Pleasant, Charleston, Saint Stephen, and surrounding communities.
Starting a business is an incredible feat. It takes a lot of time and dedication to bring life to an idea and it’s important to keep that idea protected. A business owner's policy, or BOP, combines coverages for small businesses into one comprehensive, affordable policy. Small businesses with physical property should invest in this insurance, as it protects against many common dangers that companies face. Contact Moulton & Sheally to discuss a BOP policy for your business today!
What is covered under a basic business owner's policy?
- General Liability insurance covers accidents of bodily injury and property damage that occur on the business property. For example, if a customer falls and twists their ankle in your store, general liability insurance can help with their medical expenses and cover the business’s legal fees if the customer decides to sue.
- Commercial Property insurance compensates for damages or loss to the business property due to fire, lightning, smoke, theft, vandalism and more. Separate coverage may be needed for wind and hail.
- Business Interruption insurance helps with expenses lost while the business is unable to operate after a disaster.
Additional Coverage Options to Consider
Since a business owner's policy combines coverages, you can add different insurances to your policy depending on your needs. Professional liability insurance, for example, covers lawsuits concerning professional negligence. Where general liability covers non-professional negligence, professional liability covers mistakes made by professionals that lead to a direct loss for clients. Basic property insurance excludes flood damage, which is why it is also important to consider adding a separate flood insurance policy in addition to your property insurance coverage as well.
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Who qualifies for a business owner's policy?
Business owner's policies are best geared for small business in low-risk industries, such as retail and restaurants. It may also depend on how many employees your business has.
TOGETHER IS BETTER
Bundling insurance coverage for your business can save time and money. Consider bundling a BOP with a flood insurance policy, commercial auto or workers' compensation coverage need.