Indiana BOP insurance

Packaged Policies for the Prudent Business Owner

Insurance companies in an effort to help Indiana businesses insure against property and liability risks came up with a package policy to streamline the insurance process and lower the cost of insurance. While a company can still purchase coverages separately, and for certain policies they will have to, a business owners policy (BOP) is available for small to mid-sized business. Indiana BOP insurance package policies were created for businesses that generally face the same type and degree of risk in their daily operations.

Large corporations have their own solution

Larger companies having different circumstances from their smaller counterparts have an option to purchase a commercial package policy (CPP) or may customize their policies to meet the special risks they may face. There are so many things to juggle while running a company so why add the task of finding the exact insurance policies to buy to the mix?

The kinds of coverage most businesses need

Property insurance is a staple for business people that own the building and contents within. There are two different forms: standard, and special, which provides more comprehensive coverage. Business interruption (BI) insurance 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 or any necessary equipment rentals.

Liability protection is a must since it covers your company’s legal responsibility for any harm it may cause to others. This harm can be a result of anything that you or your employees may do (or fail to do) in your operations that causes bodily injury or property damage, which could be due to defective products, faulty installations, or errors in services provided.

It’s important to note that Indiana BOP insurance doesn’t cover professional liability, commercial auto, worker’s comp, or health and disability insurance. You’ll need separate insurance policies to cover professional services, vehicles, and your employees.