BOP: The most affordable commercial insurance for my business

BOP: The most affordable commercial insurance for my business. For Florida entrepreneurs, the question of why they should have commercial insurance, especially when it’s not legally required in the Sunshine State, may arise. However, the peace of mind that comes with knowing your significant investment is protected against potential lawsuits, accidents, or hazards—like theft, fires, hurricanes, or floods—can be invaluable. Even though the law doesn’t mandate it, this protection could be the difference between the survival or demise of your business.
When evaluating the potential risks your business might face and selecting the appropriate insurance, it’s crucial to seek guidance from a specialized insurance agent. Univista Insurance, with their expertise, can craft a BOP (Business Owner’s Policy) package that combines various policies to protect your business. This approach not only offers excellent protection but also instills confidence in your insurance decisions.
In other words, a typical BOP insurance policy shields business owners from damage and hazards to commercial property, business interruption, work tools, and general liability. For instance, the property insurance included in a BOP often covers specific risks listed in the policy, such as fire, explosion, vandalism, smoke damage, and wind damage. If your business’s equipment is damaged in a fire, the property insurance can help cover the cost of replacement. It can also cover a lawsuit filed by a customer, such as a slip and fall incident in your store.
However, the BOP package generally does not include workers’ compensation insurance, which is legally required if your business has four or more employees. This policy covers employees for injuries they may sustain on the job, reimbursing them for medical expenses and lost income for the days they cannot work due to a work-related accident. It also protects employers against potential lawsuits from their employees.
Construction companies must have workers’ compensation insurance regardless of the number of employees.
It’s important to note that a typical BOP doesn’t include flood insurance or commercial auto insurance; if you need these, you should purchase them separately.
If you’re dissatisfied with your current commercial insurance or feel like you’re paying too much, rest assured that Univista Insurance can help you secure the most affordable coverage. Their commitment to providing cost-effective solutions can give you the financial security you need for your business. BOP: The most affordable commercial insurance for my business.

Call us today for a full rating! 305-728-2088. You can also quote for free here.