Arnold, Bruce & Doerfler Insurance Blog
There is no definite formula to a business’ success. The techniques and strategies should fit the business’ nature and capabilities. However, there are ways to stabilize the operations and ensure that the business will survive in the long run. One of which is purchasing a business owners policy for extensive coverage. Here is how the policy can help the business sustain stability.
Smart and Advantageous
The Business Owners Policy includes two insurance coverage namely business property and business liability. It will save money for the business instead of purchasing coverage separately. These insurances aim to protect the company from fortuitous events or human-made catastrophe. It may be theft, fire, loss of income or lawsuit. It is also flexible because the business can add more coverage with it for substantial protection.
As mentioned above, every business is different, so each has also different needs. The flexibility of the business policy will cater to all type of businesses.
Data Breach Coverage
Technology helps the businesses to operate with ease, but it does not mean it saves us from errors and mistakes. Most companies keep personal records of its consumers; it is also their responsibility to make it confidential. In case of breach, customers may file a lawsuit against the company. The Business Owners Policy will help the business face the consequences. It may shoulder payment to the people affected by the breach along with defense and settlement fees.
Data breach may also destroy the company’s credibility, so it is imperative to take the extra precaution of the customers’ information.
Professional Liability Coverage
If the business has its professional skills on the line, it is critical to add professional liability coverage to the Business Owners Policy. We can’t avoid mistakes and errors no matter how many years we have been in the industry. Extra protection from professional liability insurance will help save the business from negligence act. Consumers will not have a second thought in filing a lawsuit when a fault occurs. It is best to have armor for it.
Extra protection for the business will not hurt the finances. In fact, the business owners policy will retain the company’s reputation in the industry. With its coverage, the firm may assure its consumers that they will serve them for an extended period. It may also be an ode to the economy that the business will be here growing and developing with the community until the test of time.
At Arnold, Bruce & Doerfler Insurance, we put our clients first by offering them policies that they can afford. Learn more about our products and services by calling our agency at (503) 222-1951. You can also request for a free quote by CLICKING HERE.