Business Owners Policy

A Business Owner’s Policy is basically a package of different types of business-related insurance combined into a single premium and policy from a single provider. This bundling has some advantages.  Business Owner’s Policies can often offer significant savings to a business owner when compared to purchasing separate types of insurance under different policies.  Moreover, it can be convenient for all of a business owner’s policies to be held by a single insurance company.  Therefore, even if one company offers a subtype of the insurance at a less expensive price, buying it as part of package may be less expensive.

While Business Owner’s Policies can vary, they typically include property insurance, general liability insurance, automobile or other vehicle insurance, and business interruption service.  However, not all insurance types are included in Business Owner’s Policies and it is critical for a business owner to verify that his Business Owner Policy does provide all of his or her desired protection.  For example, a typical Business Owner’s Policy does not include worker’s compensation coverage or disability insurance coverage, which may be required by law. Therefore, an annual risk assessment remains an important part of the insurance process, even for those covered by Business Owner’s Policies.

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1386 Route 9 | Toms River, NJ 08755 | (732) 286-9600

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