Deconstructing Insurance: The Business Owner Policy

Deconstructing Insurance: The Business Owner Policy

Small business Happy owner

Do you own a business, small or large? If you do, then you are well aware of the financial risks that you take every day, not to mention the financial risks that you most likely took just to get your business off the ground. One of the ways that you can protect your business and yourself is through the purchase of a business owner insurance policy.(BOP)

There are a number of coverage options that you should strongly consider. If you run your business out of a physical location, you’ll want building coverage to help pay for repairs or rebuilding in the event that your building is damaged. This coverage can also help cover property lost within the building as well as any income lost due to the inability to use your place of business. 

You will also want to purchase liability coverage for your business. This will help protect you in a number of ways. If a person is injured on the premises of your business, liability will help cover court costs, legal fees and medical bills associated with the damages in the event that you lose the case. It can also help protect you financially if your product or service has resulted in an injury in addition to any necessary recalls.
You should purchase workers compensation as well to cover any injuries incurred by employees on the job.

If you would like to extend the coverage of your New Jersey business owner policy, then contact us at CCW Insurance.