A Business Owners Policy (BOP) combines business property and business liability insurance into one convenient policy. We’ll work with you to design coverage that protects your business from a variety of risks, unique to you.
Use the yellow hot spots and explore how business owners policy can help protect against common risks.
On average, it's estimated that three out of five businesses will be sued by their employees. While there is nothing you can do to prevent someone from filing a lawsuit, there is something you can do to limit the costs of defending a legal claim.
Obtain employment practices liability insurance to protect your business and its directors, officers, and employees from alleged employment-related acts such as wrongful termination, failure to promote, discrimination, and sexual harassment.
Note: Actual policies must be consulted for specific terms and conditions.
Could your business cause damage to the environment? If so, are you covered?
Environmental insurance provides protection if an environmental catastrophe occurs.
Note: Actual policies must be consulted for specific terms and conditions.
The Internet has spun a whole new web of liability exposures. E-commerce, social networking, cloud storage, and other technologies bring great benefits to large and small businesses alike. But with these benefits also come challenges, including protection of privacy, data, and financial information of your customers.
Cyber liability coverage covers unauthorized access to electronic data or software within your network. It also provides coverage for spreading a virus, computer theft, extortion, or any unintentional act, mistake, error, or omission made by an employee. This coverage is quickly becoming more and more important as you embrace technology to help run your businesses.
Note: Actual policies must be consulted for specific terms and conditions.
Your business property is a significant financial investment. What if something happens to it?
Commercial property insurance can help protect the property your business owns or leases, including things like equipment, inventory, furniture, and fixtures. Whether you own your building or lease your workspace, commercial property insurance can be purchased separately or can be combined with other necessary coverage to protect your business’ physical assets.
Note: Actual policies must be consulted for specific terms and conditions.
An auto accident can cause bodily injury or property damage to others for which you are responsible, potentially putting your business in financial jeopardy.
Business auto insurance provides coverage for vehicles owned or leased by a commercial enterprise and provides coverage for bodily injury, property damage, and other coverages, and includes both comprehensive and collision coverage.
Note: Actual policies must be consulted for specific terms and conditions.
With technology performing many tasks in today's world, a breakdown can cause a significant financial burden, including the cost to repair the equipment, the interruption of your business, as well as any lost income and extra expenses.
Comprehensive coverage provides protection against equipment mechanical breakdown. Discuss the details of what's covered with your insurance agent.
Note: Actual policies must be consulted for specific terms and conditions.
What would you do if a fire impacted the operation of your business? Or what if a pipe leak caused a system outage or extended downtime? These and other events can destroy your ability to serve clients and bring in revenue, which can have a major long-term impact on the viability of your business.
Business income insurance compensates you for lost income if the business cannot operate as normal due to damage that is covered under your commercial property insurance policy, such as fire or water damage. Business interruption insurance covers the revenue you would have earned, based on your financial records, had the incident not occurred. The policy also covers operating expenses, like electricity, that continue even though business activities have come to a temporary halt.
Note: Actual policies must be consulted for specific terms and conditions.
Directors and officers (such as board members) are exposed to increased risk factors and are held accountable for acts that claim negligence in the performance of their duties. Any resulting lawsuits are typically expensive to defend, resulting in potentially large settlements.
Obtain comprehensive coverage to protect senior individuals of your company. Directors and officers liability insurance provides coverage for the legal costs to defend a covered lawsuit and provides the money necessary for any settlement beyond the defense costs.
Note: Actual policies must be consulted for specific terms and conditions.
If one of your employees receives an injury or becomes ill due to a work-related occurrence, you are required by law to have the proper coverage in place.
Workers' compensation protects your employees should a job-related injury or sickness occur during the course of employment. This coverage is required by law, so be sure that you understand your obligations.
Note: Actual policies must be consulted for specific terms and conditions.
Businesses are susceptible to many risks, such as claims due to bodily injury, property damage, personal injury, and more.
General liability insurance is an absolute necessity for any business. It provides broad coverage when you are deemed responsible and liable, and will also pay to defend any covered lawsuit or action regardless of its merit.
Note: Actual policies must be consulted for specific terms and conditions.
As a business owner, you've worked hard to build a solid business. But what happens when the unexpected happens? Are you covered?
A business owners policy is uniquely designed to protect your most important assets, including your business, its continuation, your employees, and your way of life. Discuss the details of this coverage with your agent and ensure that you're protected.
Note: Actual policies must be consulted for specific terms and conditions.
If you perform services for others, you are at risk of not doing the work correctly (errors) or not doing it at all (omissions). Lawsuits can arise claiming the error or omission harmed your client and caused them a financial loss.
Errors and omissions liability insurance protects any business that gives advice, makes educated recommendations, designs solutions, or represents the needs of others. Ensure you have this important coverage if you perform services for clients.
Note: Actual policies must be consulted for specific terms and conditions.
What will you do if one of your trusted employees is found guilty of doing something dishonest?
Crime and fidelity coverage is designed to provide coverage for employee dishonesty, forgery and depository, theft, destruction and disappearance, and more. Discuss the details of this coverage with your agent to learn more.
Note: Actual policies must be consulted for specific terms and conditions.
What happens when your business faces a large liability loss that exceeds the basic limit of your standard policy?
A commercial umbrella policy provides high limits of insurance, typically between $2,000,000 and $10,000,000. Coverage is extended over your general liability insurance, workers' compensation, business auto, as well as directors and officers liability coverage. It provides a great safety net and helps ensure your business is well protected.
Note: Actual policies must be consulted for specific terms and conditions.
Anna opened up a bakery in the middle of a busy city. Her sales quickly pick up, and she’s profiting like crazy before she knows it.
But then, a series of unfortunate events strike her bakery.
First, her bakery is broken into at night, and money is stolen from her safe. She files a police report and is advised to call her insurance. Unfortunately, Anna didn’t think crime insurance would be necessary, so she didn’t have the type of coverage to help her recover from this.
Soon after the robbery, one of Anna’s cupcake batches is left in the oven for too long. The cupcakes start to burn, and a fire breaks out in the kitchen. Luckily, it was contained before getting out of the kitchen, but there is still significant damage to the kitchen. Anna never in a million years thought this would happen to her, so she didn’t have property insurance. This is another expense that will have to come out of pocket.
To top it all off, a few weeks later, a large protest happens in her city, and she’s unable to operate for six days. She never considered Business Interruption Insurance, so now she has to recover from the loss of not operating out of pocket.
Anna didn’t visit an insurance agent, and she didn’t do her research. As a result, her insurance hardly covers anything. At SOGO Insurance, we assess every single one of the risks your business faces to give you the appropriate coverage. Call us today for a quote on what type of Business Owners Insurance you need.
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At SOGO Insurance, we focus on helping clients secure the best insurance rates by working with top-rated national and regional carriers. Our dedicated brokers deliver a personalized experience, empowering clients to choose from various coverage options.
