A Word From Our Sponsor On Reasons To Consider A Business Owners Policy

If you own a small business, you already know that you can protect yourself from some of the unknown hazards out there with insurance. If you have not looked into a business owners policy insurance option, you may want to find out if it is a good fit for you.

Business owners policy insurance, commonly called a BOP, is a combination of general liability and property insurance. By bundling these two types of coverage together, it may cost less than if you purchased them separately. These types of insurance policies are generally geared toward small- and medium-sized businesses, and may not be right for every company.

One major reason to consider a BOP is the availability of business interruption insurance, which can provide reimbursements for lost revenue for up to a year if anything happens to your business that makes you unable to operate and earn income.

Since it combines property and general liability insurance, a BOP traditionally covers things like losses due to theft, fire, and equipment problems, in addition to protection in the event of a lawsuit—whether it is from an employee, a customer, or a third party.

If you own a small or medium business, one unexpected event can cause tremendous harm to your business. Finding business owners policy insurance that provides the right protection and coverage will help you prepare for the unknown, and recover so your business can continue to operate.

A Word From Our Sponsor On How To Get More Workers Compensation

There are many reasons businesses need to get excess Workers Compensation. There are risks that any business has that go beyond the normal amount they receive and they need to ensure they can cover those costs. Many companies have to do state regulated things to ensure compliance, such as make sure the workplace is safe, adequate training and supervision for all employees; all the tools have to be in working order, appropriate warnings for dangerous tools, and establish and enforce safety rules. Even though these are often followed strictly there still may be an accident.
If an accident does happen the workers compensation is there to cover the medical costs as well as time away from work. The physical rehabilitation is also supposed to be covered under the compensation. Some organizations have had a harder time paying and dealing with the litigation that comes with a claim and that is why they choose to get excess Workers Compensation policies either from a self-insured company, a private insurance company, or a state funded organization
When a company chooses to take more initiative for their employees they will notice and will likely be happier with their workplace environment. You can follow the regulations and relieve yourself from workers compensation burdens by getting more than just the state mandated amount and you should have much less problems with claims.