Business Owners Policy (BOP) in Knoxville, Madisonville & Kingston, TN

Combined Coverage for Special Advantages.

As a business owner, your company represents a significant financial investment. Given this commitment, you must prioritize implementing and maintaining robust loss control measures, including a versatile insurance portfolio. A business owners policy (BOP) can be an excellent start.  

Benefits of a BOP 

A BOP can be an invaluable investment for your business and may provide critical financial assistance in response to many common incidents. The coverages included in BOPs generally transcend industry lines, meaning that many organizations can benefit from purchasing one. Furthermore, BOPs may help your company save money by bundling several coverages within one policy, garnering lower overall premiums.  

What Does a BOP Cover? 

BOPs may represent an integral pillar of your organization’s insurance portfolio due to its diverse coverages. In most cases, your BOP will include the following: 

• General liability insurance—This coverage can help cover expenses arising from third-party losses for which you may be responsible, including the following:
  • Medical bills
  • Lost or reduced income
  • Property damage
  • Legal costs
• Commercial property insurance—This part of your BOP can provide financial assistance if a covered incident affects your company’s property, including the following:
  • Buildings
  • Electronics
    • Equipment
  • Inventory
  • Signage
  • Landscaping
  • Furniture
• Business interruption insurance—If a covered event forces your organization to temporarily halt or alter its normal operations, this component of your BOP can help pay for the following:
  • Rent or mortgage payments
  • Lost revenue
  • Employee payroll
  • Tax and loan payments 

BOP Requirements for Specific Industries 

Eligibility requirements for a BOP may vary among insurance companies. These arrangements are generally intended for small- and medium-sized organizations. Your business may also be limited in its ability to acquire a BOP due to your industry. For example, some insurers may not offer BOPs to companies in high-risk sectors. The physical footprint of your organization’s premises, annual revenue and other factors may also affect your eligibility.   

Get the Right Coverage 

We’re here to help. With nearly 50 years of combined experience serving our clients’ insurance needs, the dedicated staff at The Mike Dyer Agency is well-equipped to assess and address your business’s circumstances and determine how a BOP may be able to help you secure its finances and future. Contact us today to get started.