Financial Protection for the Small Business Owner

If you own or operate a small to mid-sized company you may be wondering what type of business insurance you should buy. Fitting an insurance policy to a business depends on a variety of factors. Let’s start with discussing the Business Owners Policy. The BOP, as it is commonly referred to, is designed to give broad insurance coverage to small businesses. It combines two of the most critical coverage for any business, general liability and commercial property, under a single contract. If you own and operate a small business in Vermont, a Business Owners Policy through Holden Insurance may be just what you need to protect yourself.

VT Business Owners Policy for Small Business Owners

Other Small Business Policies to Consider

A Business Owners Policy does not cover your employees for work-related injury or illness. You will need to purchase a separate workers compensation insurance policy to pick up this exposure.

If your small business owns any vehicles, you will need to buy a business auto policy for the auto liability and physical damage coverage.

Coverage options like loss of income, debris removal, and additional costs to continue operations are automatically included under the BOP. Additional coverage options can be added to cover other specific risks, such as an outdoor sign.

Only certain small to mid-sized businesses meet the criteria for eligibility under a Business Owners Policy. Some of the factors that go into the requirements for consideration include size of the premises, type of business, number of employees, and annual revenue.

Here are some general examples of BOP eligible businesses:
  • Apartment Buildings
  • Office Buildings
  • Buildings primarily used for Mercantile, Service or Processing purposes
  • Wholesalers
  • Contractors
  • Stores with an Apartment

We understand that you may have questions about the options available. We invite you to speak with one of our commercial insurance specialists. They can walk you through the insurance shopping process and help you determine if a Business Owners Policy is what you require to protect your Vermont business or if a commercial package policy is better suited for your needs. Request a free insurance cost review today!