Arnold, Bruce & Doerfler Insurance Blog
By just running a small business, it has already cost you a lot of time, money, and energy just to get it off the ground, and now you are finally seeing the results of your hard work! Your employees are working hard to keep your business running, your clients and customers are often satisfied with your services, and you get to leave your office after a tiring day feeling accomplished.
But to keep everything running smooth, don’t forget about getting commercial business insurance. Don’t see the point of it? Here are some commonly asked questions about BOP insurance with answers.
Why Should I get a Business Insurance?
Getting commercial business insurance for your business, like a business owners policy (BOP), will help protect your business from all kinds of situations, like damages from natural disasters, theft, vandalism, equipment or property damage, and more. It would also help cover the expenses caused by business interruption, including an injured employee.
Is BOP Mandatory?
This would usually depend on the state you are living in, but certain types of business insurance like workers’ compensation, disability insurance, and unemployment insurance tax are required in some states by law. Therefore, if you’re starting a business, make sure to check your local state government and business bureau to know about your state’s requirements for business insurance.
What are the Types of Business Insurance Policies Available?
There are several types of insurance that you can choose from for your business, and these include general liability insurance, workers’ compensation insurance, property insurance, commercial auto insurance, professional liability insurance, and of course the business owner policy.
Will I have a Discount If I purchase a Business Insurance Bundle?
Yes, like bundling your auto insurance and homeowners insurance policies, you’ll also get a discount when you purchase a bundled business insurance. A lot of small business owners tend to opt for BOP insurance as it is already a packaged deal that is perfect for small business owners.
Is BOP Insurance Expensive?
No, in fact, commercial business insurances cost less than auto insurances annually if you’re a small business owner. But if you run a large company, the business insurance policy can be quite expensive. This is because compared to small businesses, there is a large number of things that need to be covered in larger companies.
When it comes to getting your business insured, it would be much better to get your business over covered than under. Therefore, if some of the coverage you want aren’t included in BOP, you can always consider buying individual insurance for it.
At Arnold, Bruce & Doerfler Insurance, we do our best in making sure that our clients are well-protected with affordable and comprehensive policies. We make sure to go the extra mile to help you with your needs. To learn more about how we can help you, please contact our agency at (503) 222-1951 or Click Here to request a free quote.