Consider a BOP for Your Fire Sprinkler Contractor's Business
When you are in the market for insurance for your thriving fire sprinkler contractor business, you might want to consider a BOP — Business Owner Policy. It is a group of basic business insurance coverages that are combined into one package. One big advantage of it is that a BOP is typically sold at a premium less than the total costs of the individual policies by themselves.
While they are designed for small to medium sized enterprises, they contain some mandatory coverages as well as options to help customize the BOP for certain businesses. They contain the following coverages:
Business Personal Property & Buildings
This provides coverage for any property owned, leased or rented by your business. The business personal contents coverage portion of the BOP includes protection against equipment, inventory, furniture, computers and other property losses.
This protects your business against any bodily injury or property damage that occurs on your premises.
Loss of Business Income or Business Interruption Insurance
If unexpected events cause your operations to be suspended to the point where you are not receiving income, this coverage will help replace any income loss so you can continue meeting any financial obligations like payroll and rent.
Valuable Papers, Documents and Receivables Coverage
This optional coverage to your BOP helps protect against losses to these valuable items. Any payout will help you absorb the costs of replacing them.
Accounts Receivable Coverage
If your company is not able to collect on its accounts because of document losses, this coverage will replace the amounts that are due.
There are other coverages available on a BOP. Your professional insurance advisor can help go through the options with you.
USA Business Insurance Will Round Out Your Coverage
The BOP, for all of its advantages, is not the complete insurance program that you need. It basically covers property and liability. You will most likely need workers compensation and business auto insurance. Another coverage to look at is professional liability.
You want to make sure that every part of your business that is vulnerable to risk is adequately protected. If you have a loss on a portion of it that is not covered, it could mean a significant financial drain on your business.
Contact USA Insurance today for more information on how we can set you up with the peace of mind a good insurance program can bring your fire sprinkler protection business.