Business Owners

Armor Insurance Professionals understands that you, as a business owner, want to save money and make as much profit as possible. We also understand that sometimes it takes a little money to make a lot of money. That’s why you should invest in business owner’s insurance, also known as a Business Owners Policy (BOP). This policy combines multiple types of business-related insurance into one convenient policy for business owners. With a BOP, you can secure your company's financial stability, protect your company from large financial losses, and ultimately, avoid getting into risky business.

 

Who needs a Business Owners Policy?

You should consider purchasing a Business Owners Policy if:

 

  • You own a small business (fewer than 100 employees and less than 5 million dollars in sales)

  • Your business has a physical location

  • Your business could potentially get sued

  • You have valuable assets that could get stolen or damaged (e.g., cash, data, inventory, furniture, equipment, etc.)

What does a Business Owners Policy cover?

This policy includes a wide variety of coverage options, so you get to decide which ones to purchase according to your specific business’s needs. Some coverage options include:

 

  • General Liability: This coverage protects you when a customer gets injured or their property gets damaged while in your store.

  • Business Income (Business Interruption Insurance): If an unexpected event causes your business to suspend operations, this coverage will help replace your loss of income so that you can continue fulfilling other financial responsibilities, such as payroll or rent.

  • Commercial Property: With this coverage, you can protect your physical assets, such as your building, equipment, furniture, and inventory when they are damaged or stolen.

  • Data Breach Coverage: If you deal with sensitive data, such as customers’ and employees’ private information, this coverage will protect you when any of that data is lost or stolen and when there is a lawsuit involved with the breach. It can also cover the expenses used to notify individuals affected, monitor credit card usage, purchase consulting and forensic services, and more.

  • Professional Liability (Errors and Omissions or E&O): This coverage protects you if you provide a service, especially one that provides advice or knowledge, and a client makes a claim for negligence or an omission of information.

  • Specialty Coverage: You can personalize your coverage to suit your business’s specific types of risks.

 

Along with a BOP, you may also consider purchasing stand-alone popular business-related insurance policies, such as Workers Compensation and Commercial Auto, if relevant.

Keep in mind that with Armor Insurance Professionals, you get to personalize your insurance policies to suit your needs and circumstances. As a brokering agency, we can compare prices from different companies for you at no cost. Need help deciding on the right amount of protection that fits in your budget? Get an online quote now or speak with a friendly agent to get started!

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