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Other insurance Policies to Consider as BOP

Other insurance Policies to Consider as BOP

 Professional Liability Insurance

Professional Liability Insurance protects license


es, certificate and diploma holders, and companies from errors and omissions in the performance of their services. Also known as malpractice and malpractice insurance, this insurance is suitable for accountants, architects, engineers, real estate agents, lawyers, insurance agents, inspection firms and management consultants. If in doubt, ask!

 Employment Injury Insurance

For companies that employ employees, workers, Liability insurance is required. It is purchased separately from the Business Owner's Policy (BOP) and is required in most states based on the number of employees. The amount of the bonus depends on your industry and your annual salary depending on your job responsibilities.

 Employees Workers insurance

Compensation Insurance covers the cost of medical care a worker needs as a result of a work-related accident, illness, or death. The illness must be directly related to the work performed, it must not be a contagious viral or bacterial infection. An example of a work-related illness that may be covered by workers' compensation is the illness of black lung disease miners. Compensation pays your employees a percentage of their lost earnings when they are unable to work due to a covered injury or illness. Compensation Insurance covers the injured worker's income until they can return to work.

 Commercial Auto Insurance

This insurance protects your company against liability claims resulting from the negligent use of a motor vehicle.

 Contractor insurance Policy Cost

The Contractor policy covers liability insurance and commercial property insurance at a reduced cost. The replacement value of the business and real estate assets, the industry, the location, the age of the building, the type of construction, the annual income and the payroll accounting influence the premium.

Due to the many variables that make up the rates charged by the Business insurance policy, it is not possible to insure even an average premium. Do you think the same type of business is more or less profitable in Kentucky than in Florida or California? Fewer! Kentucky is not prone to hurricanes or earthquakes.

 Advantage from the policy for entrepreneurs

Entrepreneurs' The policy covers both corporate asset protection and corporate liability. This is a general guideline for companies with low to medium responsibility needs. Your premium is usually cheaper than buying these policies individually.

BOP can be configured according to the needs of a specific company. An insurance advisor can help you put together a package tailored to your business needs. The main types of protection generally included in this policy are:

Property Insurance - The policy covers damage or loss of property resulting from a specific list of events described in the policy. These events are detailed in the policy and may include fire, wind, smoke, vandalism and explosion damage. This policy covers damage to a building whether it is owned or rented.

Business Interruption – A type of property insurance that replaces a lost source of income when a building is damaged due to an insured hazard that prevents normal business operations.

Property and Product Liability - This coverage covers incidents arising out of your business activities that result in property damage or personal injury to others (not yours or your employees). Examples include damage to a customer's property caused by an employee performing a service at their home, injury from product malfunction, slips and falls on company premises, etc.

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