Business Owners Package Insurance

If you own a business, you likely have heard more times than you can count what you need to do to be successful. Maybe it has to do with saving. Perhaps the advice revolves around hiring or other procedures. But if no one has told you about business owners package insurance, then you’ve been missing out on an essential piece of protection.

At Lake Region Insurance Agency, we know how much work it takes to run a business. We are here for you each step of the way to ensure you have the tools you need, including all of your Minnesota insurance, like a business owner’s package insurance policy.

What is a Business Owners Package Insurance Policy?

Typically, this kind of insurance plan combines a couple of vital coverages into one package policy. Often called BOP, this type of insurance will protect your business when there are events like fire, vandalism, theft, or other disasters.

Furthermore, BOP insurance also covers claims for injuries and damage that impact employees or customers. Many businesses gravitate toward these policies because they are customizable for your specific business needs.

Sometimes a company requires coverages that are considered optional, like for a data breach or other special situations. A BOP will allow you to pick and choose what you need in addition to the primary business coverage.

Because these policies have flexibility in what you choose, they are perfect for any business. Do you have a large corporation with millions of dollars in revenue? Or a small company with a few employees and a growing profit margin? Either way, you can be sure you will have coverage.

Who Should Have a Business Owners Package Insurance Policy?

If you are still unsure about whether or not you should purchase this type of insurance policy, consider the following. You probably need it if any of these situations apply to you.

• Your business has an actual physical location. Even if the majority of your business is online, you need coverage for your assets. For example, if your company operates out of your home, but you have equipment and merchandise there, you need insurance in place.
• You have assets that would require replacement. From furniture to cash to electronics, you don’t want to be on the hook to pay for recovering these items.
• You are at risk of a lawsuit. Do you sell a product that could potentially hurt someone, even if it’s user error? Do you have employees or customers on-site who could fall or injure themselves? Legal fees escalate swiftly, so it is best to have a protective policy in place.

Call Lake Region Insurance Agency Today

It is a rare business that wouldn’t benefit from a BOP policy. If you own a company with any assets or a physical location, you should have a business owners package insurance policy. Fortunately, Lake Region Insurance Agency has you covered.

As an independent agency, we can meet all of your Minnesota insurance needs. We’d love to chat about how we can serve you. Call or stop in for a personalized policy review to be sure you have the peace of mind you deserve.