When should you buy insurance?
April 29, 2022
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First Underwriters Insurance Brokers provide insurance protection for adult residential care facilities including adult foster homes, adult family homes, assisted living homes, adult care homes, assisted living facilities, and personal care homes.
As the owner of a small or medium-sized business, you want to concentrate on growing your business. What you don’t want to worry about is, insurance.
For many main street type businesses, Hayes Brokers has one insurance policy to cover your two main concerns: property and liability. It is called a Business Owners Package (BOP) and it includes the property (hazard) and liability (casualty) that you know you need, plus a few extras that you may not know you need until it’s too late.
When you purchase most or all of your insurance coverage through one insurance company, you often get discounts. A BOP combines two of your main policies at a lower price than two separate policies. This means there are fewer policies to worry about, and only one premium payment to make.
Some advantages of BOPS are:
Boat Insurance
Some BOP policies include coverage that is more broad in scope or not as readily available on a monoline policy. These may include:
Some insurance companies even have special BOP packages for certain types of business such as pool contractors or beauty salons. These policies include coverage specific to the business being insured.
Unfortunately, BOP policies are not all-inclusive. You will still need policies for Commercial Auto, Workers Compensation, Professional Liability, Health and Disability, and higher limits Umbrella. You will need separate policies for vehicles, employees and professional services.
Full Service Insurance Brokerage Firm Offering Personal, Commercial, Life, and Health Insurance in addition to Risk Management Consulting.
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The opinions expressed on this site are the opinions of the individual author and may not reflect the opinions of First Underwriters Insurance Brokers. All content appearing on this website is not meant to be exhaustive or construed as legal advice. Consult your licensed broker at First Underwriters to address specifics, possible concerns or compliance requirements.
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