BOP Coverage: Protection for Maryland Small Businesses
Policies for Columbia, Baltimore, Washington D.C. and the greater Chesapeake Region
Get Your Business Owners Insurance Started Today
Even small businesses can generate millions of dollars in revenue. Their hard assets also contain value in and of themselves. Losses could prove costly, and commercial insurance often proves lifesaving in these cases. Given the size and scope of your operation, how can you get coverage to your satisfaction?
For customers who need to balance wide-ranging commercial coverage with affordable costs, McFarlin Insurance is proud to offer Business Owners Policy options, or BOPs. With this customized protection for small operations, we can help your company thrive well in to the future.
Contact us at 410-312-7800 or request an online quote right now!
Why do you need a BOP?
Maximizing income is important for all small business owners. In this endeavor, you’ll want to simplify the management and costs of your insurance portfolio. With a BOP, you can often achieve that goal.
BOPs generally contain several types of commercial insurance. That way, you’ll get your business’s most-critical coverage elements all in one place. A BOP can create several perks for policyholders, such as:
- Allowing you to only pay one premium for several types of policies. You’ll also be able to achieve cohesion among coverage limits and deductibles.
- Reducing risks of coverage lapses among different policies.
- Permitting you to modify and add coverage to better fit your commercial needs.
BOPs can serve as critical ways for smaller operations to start out with a strong insurance portfolio that offers considerable convenience. Therefore, don’t hesitate to get covered.
What’s in a BOP?
Every BOP will vary. However, all policies offered through McFarlin will contain:
- Property insurance: Covers damage to your owned structures, contents and other assets.
- General liability coverage: Insures damage you cause to third parties, like your customers. Most policies cover bodily injuries and property damage.
- Expenses and interruption coverage: A damaging incident could cause a loss of income. This problem could deepen if you must temporarily close for repairs. With this coverage, you can still meet critical operating expenses even during a closure.
Expanding Your BOP
In most cases, your business will need more coverage than just a standardized BOP. You can often enhance coverage by adding:
- Professional liability insurance: Also called E&O coverage, this protection insures you against clerical mistakes or business actions that cause clients losses.
- Cyber liability coverage: In case of problems with your computer systems, client data could get stolen or become compromised. This coverage can assist with damage control and protective services following occurrences.
- Workers’ compensation: This is mandatory coverage for most businesses. It provides employees with supplementary income following on-the-job injuries or illnesses.
- Employment practices liability insurance: Should someone accuse your operation of harassment or discrimination in hiring or retention, liability costs could skyrocket. This coverage could help you combat these claims and reach appropriate settlements.
At times, you might be able to integrate this coverage into the BOP itself. In other cases, you must enroll in supplementary policies. McFarlin Insurance can help you design supplementary coverage around the core of your BOP, while keeping portfolio costs manageable. With us, you have a guarantee that you’ll never have lapses or holes in your full insurance portfolio.
Ready to get covered?
If you’re ready to get covered, contact McFarlin Insurance. We understand that today, heightened liability risks face every business. We’re here, to help you get the best protection for your operation.
So, don’t wait. Contact us at 410-312-7800 or request a BOP quote online right now.