Gallina and Sons serve many Pittsburgh, PA businesses with the commercial insurance they need to protect their financial security. Many companies choose to purchase a business owners policy (BOP), a policy bundle that provides the four most common types of commercial insurance at a reduced premium. Is a BOP right for your business?
BOPs: Designed for Small and Mid-Sized Businesses
The insurance industry designed business owners’ policies to serve small and mid-sized businesses with the insurance policies they most often need. In some cases, the four policies in a BOP may provide all the coverage a business needs. It also works as a foundational policy, so businesses can add other coverage as needed.
Large businesses and corporations don’t qualify for a BOP. Your business won’t be eligible if your company employs more than 100 individuals or generates more than $5 million in revenue. Some underwriters cap revenue at $1 million.
Commercial Insurance Provided in a BOP
Although you refer to the BOP as a single policy, it contains many forms of insurance. If you purchased each policy within a BOP, you’d pay a separate premium for each. By choosing the BOP option, if your business qualifies for it, you obtain the following four insurance policies for a reduced premium:
- Business interruption
- Property damage.
If needed, you can add other policies to the BOP, such as workers’ compensation, when you purchase it initially or later.
Contact Gallina and Sons Today about a BOP
Contact Gallina and Sons today to determine if your Pittsburgh, PA, business qualifies for this nifty policy. Let us help you determine what other policies you might need to add to a BOP to protect your business entirely.