Operating a business means paying for overhead expenses. One of these expenses is insurance coverage, and it can take up a lot of resources--especially if you’re getting multiple plans for each specific risk.
PolicySweet® has a coverage solution that can help protect you and your business from multiple risks. You might want to consider our Business Owners Policy (BOP), which covers general liability, business property, and cyber risks.
BOP: Made for Small Businesses and Self-Employed Professionals
Spending resources for two or more types of coverages is not just inconvenient; it can also be time intensive. Most small businesses and self-employed professionals simply do not have the time to research and obtain multiple insurance plans. Thankfully, there is a consolidated insurance policy that can help you avoid this scenario — the BOP.
A BOP from PolicySweet covers three key areas that many Georgia businesses obtain: general liability, cyber risk, and business property. Since these three risks are covered in one policy, you only have to make one payment. Having a BOP can be convenient.
Areas Covered by BOP
To help ensure maximum protection from major risks, a BOP can cover the following areas.
General Liability
With general liability, you can get protection against claims made by third parties, such as customers, visitors, and suppliers. Liability claims arise from third-party bodily injury or property damage resulting from business operations. If unsettled outside of court, these claims could escalate to lawsuits, which could result in major financial loss.
General liability insurance can cover these expenses, helping to ensure that you have financial support for claims. You can get payouts for the following and more.
- Legal fees and court costs
- Settlement fees
- Medical and hospital expenses for third-party claims
Keep in mind that general liability insurance only covers you and your business from third-party claims. Workers’ Compensation insurance can provide coverage for employees if they’re the ones that experience an injury. Workers’ Comp is legally required for most businesses in Georgia.
Business Property
Your equipment, tools, and other assets can be necessary for continual operations. Damage to or loss of these items can result in disruptions and financial loss. These issues can result from natural disasters, criminal activity, and other unforeseen circumstances. Thankfully, you may be able to quickly recover from these losses with business property insurance.
This coverage can provide financial support for repairing damaged assets or replacing lost ones. Even rented equipment can be covered depending on the specifics of the underwriting. Thanks to this coverage, you may be able to quickly resume operations and help avoid delays.
Cyber Risk
When businesses migrate to digital platforms, they also become vulnerable to cyber risks like data theft and malware. Becoming a victim of a cyberattack could lead to disruptions to your operations and your business could be impacted financially.
A BOP can help you avoid this scenario as it provides cyber risk coverage. You can get financial support to help notify customers and start an investigation looking into what caused the incident.
Features of a BOP: Why Get This Coverage?
Getting insured can provide protection from financial loss. There are several reasons to obtain a BOP. Here are some reasons why you may want to consider getting this type of coverage.
- Help Improve Your Business's Reputation: Having coverage can give customers the impression that you take your company seriously. Clients know that you’re looking towards the future when you get insurance. If someone files a claim, you may be ready to respond immediately as it can help maintain your reputation.
- Help Ensures Operational Continuity: Damaged assets or liability lawsuits can cause delays to your operations. With coverage, you can avoid these scenarios or quickly recover from an incident. That way, you can continue providing your offerings and help keep your customers happy.
- Rest Easy: You can get immense relief knowing that you have a financial safety net in case a disaster strikes. You won’t be scrambling for resources because your BOP can help cover the expenses.
Help Make Insurance Easy with PolicySweet
Georgia businesses have plenty of options when it comes to insurance providers, but here are a few reasons why working with us could be the ideal choice for you.
Tailored and Customizable Plans
A BOP is one of the few insurance policies that can cover a variety of risks. In addition, we can customize packages based on your request to help meet your business needs. Just let us know, and we’ll see what we can do.
Quick and Simple Process
We strive to make obtaining insurance easy. It takes only a few minutes to get a quote for your business. The very next day, your coverage can start.
Dedicated Representatives
At PolicySweet, we take customer service seriously. That’s why we have representatives ready to help. Contact our team and ask questions about a BOP. We’ll answer as thoroughly as we can to help you make more informed decisions.
Industries and Businesses We Cover
A BOP is applicable to most types of small business and self-employed professionals. We’ve worked with the following business types and more. If you don’t see your industry, contact us and let us know about your business insurance needs.
Get Comprehensive Georgia Business Insurance
It may be best to be prepared before an unfortunate incident strikes and financially impacts your business. A BOP from PolicySweet can cover the key needs of Georgia businesses, including cyber risk, general liability, and business property insurance. Contact us now and start your protection!