WEDNESDAY, MAY 28, 2014
 Startups and small businesses may not have enough resources or even cash flow to buy individual business insurance policies. But that's no reason to go uninsured! Instead, talk to your agent about a business owner's policy, known as a BOP. This all-inclusive bundle policy delivers the most common business coverages with one easy premium.
A BOP is great for any type of business owner. A more hands-off person will enjoy paying a single premium for all of the necessary coverage and a more hands-on person will enjoy the ability to customize a BOP with additional coverages to protect a business' unique needs.
What is included in a BOP? Every BOP comes standard with property and liability coverage to protect your business' assets and legal liability to maintain a safe facility. You can select your coverage limits and add on additional coverages as desired, such as cyber liability, equipment breakdown, medical payments, loss of income and employment practices liability coverage. Commercial auto and worker's compensation coverage will generally have to be purchased separately.
A BOP sounds great, but not every business is able to purchase this type of coverage. Who qualifies for a BOP? In order to purchase a BOP, your business must employ no more than 100 workers and earn no more than $1 million in annual revenue. If your business is larger, you will likely have to purchase individual business insurance policies.
Contact your independent agent to learn more about how a BOP can benefit your small business and to start comparing policies right away.
Get comprehensive coverage today. Call First Insurance Group at (502) 348-5921 for more information on Lexington business insurance.
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