Business owners Policy in Vermont

Business Owners Policy Coverage for Vermont Businesses

Business is complicated but your commercial insurance doesn’t have to be. Though your small business is specialized, many Vermont small businesses in low-risk industries use similar core business insurance policies. To simplify your insurance purchase, these polices can be combined into a single business owners policy (BOP).

Start The ConversationRather than purchasing your property insurance, general liability insurance, and business interruption insurance separately, they can be combined into a BOP. For many Vermont businesses, this option is more affordable than separate policies, and it helps to simplify the insurance process while offering more coverage than standard business insurance policy. Depending on your specific policy, additional options may be able to be added to customize your package policy.

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How Can You Benefit from a Vermont Business Owners Policy?

Property Insurance

One of the core components of most commercial insurance policies is property insurance. As part of a BOP, your building, office equipment, and other items belonging to your business can all be covered for fire, theft, storm damage, and other events. Typically, anything that is within your office at the time of the loss can be covered, including client’s property. You may also have some coverage for business items and equipment that are taken off the premises.

General Liability Insurance

If a client slips in your parking lot or otherwise gets injured on your property, they may be able to sue for medical costs and damages. Additional liability risks can arise if your product, service, or advice causes harm to a client. You need liability insurance to help pay for lawyer fees, court costs, and awarded damages in case of personal injury or damage. General liability insurance helps to provide broad protection against situations in which you may be sued.

Business Interruption

If your business has to close due to a loss, the odds are against you keeping your business from failing. With business interruption insurance, your business expenses including rent, utilities, and employee salaries can all be covered during the repairs. You may also be able to reopen in a temporary space with your excess expenses covered. With this coverage in your BOP, you can better prevent your business from failing during this crucial time.

Other Business Owners Policy Options

Many Vermont BOPs can be customized to the needs of your business. Including these in your package policy can keep your costs low while broadening your insurance coverage. Some available options may include:

  1. Professional Liability
  2. Workers Compensation
  3. Hired, Non-owned Auto
  4. Cyber Insurance
  5. Inland Marine
  6. Commercial Umbrella
  7. Theft
  8. Liquor Liability

Your agent can give you all your available options for your BOP so you can choose the options that best fit your business needs and budget.

Learn How to Protect Your Business

Business owners policies are not right for every business. Those companies with more complex needs, higher liability limits, or other special insurance considerations likely need to buy separate polices. Your agent can help you best determine if a BOP is right for your business.

When your VT small business has basic insurance needs, a BOP can help simplify your insurance purchases while saving you money. Combining essential property, liability, and business interruption insurance, these policies help to cover the most common needs for small businesses. Many of these policies can be customized with optional additional policies for a broad range of coverage in one convenient package.

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