Small businesses are often in a unique position. If you own a small business, you probably have big dreams, without the funds or time to match your ambitions. Business owners have to wear so many different hats to ensure that daily operations proceed as smoothly as possible. But with so much responsibility taking up so much of your time, the last thing you want to worry about is managing various insurance policies.

Luckily, there’s an easy solution. A business owner’s policy, commonly known as a BOP, provides one simple business insurance package that bundles all of your coverages. That means only one policy to keep track of and only one premium to pay.

Standard BOPs include commercial property and liability coverage, which every business needs. In addition, you can work with your independent insurance agent to add in even more coverages to protect the specific needs of your business. For example, if your business manufactures filtered water bottles, you want to tack on equipment breakdown coverage to protect your specialized machinery.

BOPs provide a lot of flexibility. For very small businesses, you may find that a basic policy is just the right amount of coverage as is. For small to medium businesses, you have the option to add more custom features to form a more comprehensive policy.

A couple things to note about BOPs:

• Your business is eligible for a BOP if it employs no more than 100 people and earns up to $1 million in annual revenue.
• Commercial auto insurance and workers compensation insurance are often excluded and will need to be purchased separately if needed.

Does a BOP sound like a good solution for your business? Call your independent insurance agent to learn more about how this coverage can protect your business’ best interests every day.

Learn more now. Call Lupton & Luce Inc. at 631.727.4114 for more information on business insurance.