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Bill West - Wm B West Insurance Agency, Inc.
Illinois & Wisconsin (224) 538-2006
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BUSINESS INSURANCE: What
does a businessowners policy cover?
1All insurance questions and answers
are provided by the Insurance Information Institute www.iii.org
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 Call
Bill West, Illinois & Wisconsin insurance agent, to answer all
of your insurance policy questions.
(224) 538-2006 - Gurnee, IL
Contact
Bill West - Wm. B. Insurance Agency, Inc. |
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Business Insurance Basics
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- What
does a businessowners policy cover?
Insurance companies selling business insurance offer policies that combine protection from all major property and liability risks in one package. (They also sell coverages separately.) One package purchased by small and mid-sized businesses is the businessowners policy (BOP). Package policies are created for businesses that generally face the same kind and degree of risk. Larger companies might purchase a commercial package policy or customize their policies to meet the special risks they face.
BOPs include:
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Property insurance for buildings and contents owned by the company -- there are two different forms, standard and special, which provides more comprehensive coverage.
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Business interruption insurance, which covers the loss of income resulting from a fire or other catastrophe that disrupts the operation of the business. It can also include the extra expense of operating out of a temporary location.
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Liability protection, which covers your company's legal responsibility for the harm it may cause to others. This harm is a result of things that you and your employees do or fail to do in your business operations that may cause bodily injury or property damage due to defective products, faulty installations and errors in services provided.
BOPs do NOT cover professional liability, auto insurance, worker’s compensation or health and disability insurance. You'll need separate insurance policies to cover professional services, vehicles and your employees.
- How
can I insure my home-based business?
- Do
I need business interruption insurance?
- Are
there any disasters my property insurance won't cover?
- How
can I disaster-proof my business?
- How
do I file a business insurance claim?
- What's
the difference between cancellation and nonrenewal?
- Do
I need workers compensation insurance?
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| The information on these pages is intended to
be accurate at the time posted. It is for general informational purposes
only. Because of the nature of this information, it may not be applicable
in your area or current at the time you read it. Please see your agent
or review the policy contract for detailed information you can rely
on. The information on this site may change without prior notice. |
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