Coverage You Can Add to Your Business Owner Policy

Carmel business owner policy


A Carmel business owner policy (BOP) can provide you with comprehensive insurance coverage in one easy package. Business owner policies combine liability and property insurance coverages, but there are also complementary policies that can be added to the BOP to prevent gaps in coverage.

Three of the most common of these coverages are worker’s compensation, employment practices liability and professional liability. Workers’ compensation coverage protects you if an employee injures him or herself on the job and files a claim. Since this risk has the potential to present a major expense, it’s an important coverage for a business owner to have. Employment practices liability insurance covers your business in the event of a lawsuit based on a wrongful act during the employment process. Examples of this include suits for discrimination, harrassment, wrongful termination or retaliation. Professional liability coverage is also referred to as errors and omissions (E&O). If you operate a service business or give advice to your clients as part of your professional practice, this coverage protects you from claims of negligence.

A Carmel business owner policy is a great foundation to your company’s insurance coverage, and it can be complemented by other policies that cater to your business’ specific needs. Having a well-rounded insurance package gives you peace of mind to grow your business despite the many risks you may face.