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Business Owners Policy

Building a business is a tough job. It takes money, resources, time, and dedication. It’s important to keep all that hard work protected. Every year, over 627,000 businesses open their doors for the first time and over half that number close every year. One of the biggest reasons is a lack of money to stay afloat. When starting a business, the last thing you need is more financial pressure. Give your business the best protection with a business owners policy.
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Should I Buy a Business Owners Policy?

If you have a business or are looking into starting one, it is important to have insurance to protect it. What is even more important is taking careful consideration as to which insurance is best for you. REMCO Insurance Services offer a range of insurances for business owners, and we want to help you succeed with the right policy.

What is a Business Owners Policy?

A business owners policy covers major property and liability risk. A business owner’s policy (BOP) can be best understood as a combined policy for business liability and business property. Business owners policy insurance is formed by considering both business property insurance and business liability insurance. This means that BOP insurance supports you in claims relating to theft, fire, and many other disasters. BOP insurance also covers property damage and bodily injury. Additionally, you can expect BOP insurance to cover personal and advertising injuries.
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  • Спасибо большое Георгию за помощь в оформлении страховки,все четко ,понятно.Георгий всегда на связи и отвечает на любые вопросы

    thumb Sveta Vdovenko
    July 25, 2022

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    thumb JF0324
    July 25, 2022

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    thumb Марина Гунькина
    July 25, 2022

  • Great service, special shout to Irina for helping me with a quote. Fast, honest and trustworthy!

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    July 25, 2022

  • Special thanks to George and Irina. They helped me out and I'm very glad I talked to them. They didn't waste time or beat around the bush. They got me a great quote for my house and car insurance. I'd definitely recommend giving them a call for a quote. In a time where customer service is king, these two are definitely up there when I have any questions or need help.

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    July 25, 2022

  • Jay and his team have been awesome people to work with! Very genuine in what they do and truly care about having a positive impact on their clients and the local community. Highly recommend working with Remco!

    thumb Justin Moist
    July 11, 2022

  • Здравствуйте, хочу выразить огромную благодарность Георгию. Он нам помог открыть страховку. Хочу отметить высокий профессионализм Георгия, очень доступно все объяснил и подобрал лучший вариант для нас.

    thumb алексей ящук
    July 1, 2022

  • Здравствуйте, хочу поблагодарить Георгия за помощь в оформлении мед. Страховки! Я с ребенком нахожусь недавно в США и совершенно не знаю как оформляются страховки и всё остальное! Сколько нужно за это платить и тд ! Пошла в ближайшее место по страховкам и там насчитали за оформление (400$),Тк пока без работы и каждый доллар на счету и перед принятием любого решения взвешиваю, решила отложить этот вопрос и ещё искать информацию! когда я на fb увилела объявление о том, что Георгий помогает с оформлением страховки для украинцев бесплатно, я набрала Георгия и этот человек уделил мне время, спокойным голосом всё рассказал, разжевал буквально пошагово и всё оформил! Даже затронули тему от куда я( такое чисто человеческое отношение). Такой отклик и такая поддержка настолько выручает! Я очень благодарна, что есть такие люди, которые помогают другим тем, чем они могут! Особенно в такое время! Это так важно! Для таких , как я , (а таких очень много)это такая рука помощи и такое подспорье! Ещё раз благодарю!

    thumb Ира Чухрий
    June 1, 2022

  • Guys are great. They keep up with the times and do not lag behind like others. They quickly did their job. we are very satisfied.

    thumb Ivan Kuchin
    May 28, 2022

What Does a Business Owners Policy Cover?

A business owners policy typically includes the following:

This is one of the most important insurances to have for small business, as it protects against lawsuits that may relate to property damage or personal injury. Proof of this type of insurance may be required when signing a contract or applying for a loan.

This insurance provides coverage in case of perils such as fire, explosions, storms, theft, vandalism, and storms.

In the event of disaster, this kind of insurance covers your business’ loss of income and may help cover the rebuilding process.

BOP does not include workers compensation, professional liability, flood, earthquake insurance, employment practice liability, or commercial auto policy.

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Who Qualifies for a Business Owners Policy?
A business owners policy typically covers smaller business, in other words those who make less than $5 million a year and employ less than 100 employees. The business has a physical location and owns items (even electronically) that could be damaged or stolen. Get a quote for your business today by calling 215.357.7878 or filling out our online quote form.
What is the Difference Between a Commercial Package Policy and a Business Owners Policy?
These two policies are very similar in that they bundle insurance for a usually cheaper rate. The difference is that a commercial package policy isn’t as limited as BOP. Most commercial package policies include:

  • Property insurance: Covers your business property such as structures and inventory.
  • General liability: Liability protection from claims that occur during typical business operations.
  • Business income: Pays for regular business income lost as a result of fire, theft, or wind.
  • Business vehicle: Provides coverage for vehicles used for business.
  • Business interruption: This insurance pays for income loss as a result of a disastrous incident and covers business expenses such as electricity.
  • Commercial umbrella: This fills in the gaps left by your liability insurance.
  • Electronic data processing coverage: Covers electronic equipment owned by the company.

Usually small businesses utilize BOP while larger companies of varying degrees choose a commercial package policy because of its more extensive coverage. Neither of these policies typically cover directors and officers liability, health and disability, life insurance, or workers compensation.

Additional coverage in BOP insurance.

For a business, BOP is essential since a business owner can customize the policy to fit all industry-specific needs. BOP Insurance Philadelphia is useful for companies of all sizes, though it is particularly beneficial for smaller enterprises. There are consistencies among the various package policies available since BOP is specially built for businesses that face similar risks. Business owners should therefore customize their BOP insurance as a first step when insuring their businesses. All possible and expected risks should be covered so that your BOP insurance offers the highest protection against potential damages and losses from day one. If needed, a business can tailor their BOP to meet the unique needs related to their business. They can achieve this by adding optional coverage such as:
  • Business income related to things like off-premises utility services
  • Data breach
  • And many more!
A business owners policy typically includes the following:
  • General liability insurance: This is one of the most important insurances to have for small business, as it protects against lawsuits that may relate to property damage or personal injury. Proof of this type of insurance may be required when signing a contract or applying for a loan.
  • Commercial property insurance: This insurance provides coverage in case of perils such as fire, explosions, storms, theft, and/or vandalism.
  • Business interruption insurance: In the event of disaster, this kind of insurance covers your business’ loss of income and may help cover the rebuilding process.
Remco Insurance Services can help in getting appropriate health insurance, life, auto and other types of insurances.
215-357-7878

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