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Obtaining a Business-owners Policy (BOP) is the most cost effective and efficient way to obtain property and liability coverage. Though referred to as different names, these policies typically have provisions similar to the property insurance and liability insurance sections of the BOP. This policy covers the following:

Property Insurance

  • Real estate owned by your business.

  • Real estate rented or leased in the premises owned by your business.

  • Equipment, dishes, food and other business property.

General Liability Insurance

A BOP covers a broad range of potential liability situations—everything from slip & fall accidents to claims of libel or slander.

Business Vehicle Insurance

Although your personal auto policy may provide coverage for some business use of your vehicle, it’s unlikely to provide coverage if the vehicle is used primarily in business.

Workers Compensation Insurance

If you have three or more employees, you should check with your state department of workers compensation to see if you are required to provide workers comp insurance.

Business Interruption Insurance

Also known as Business Income and Extra Expense Insurance, Business Interruption Insurance helps pay ongoing expenses while your business is unable to function due to a loss as well as help make up for lost profits. Extra Expense Insurance helps you recover as quickly as possible by paying extra expenses caused by the loss, i.e. rent for temporary quarters.

Food Contamination Endorsement

Adding this to your policy gives you insurance in the unfortunate event that one of your products is appointed as the cause of food poisoning or of transmitting a communicable disease.

Other useful property coverages are:

  • Spoilage: Covers the value of property spoiled as a result of a breakdown of your temperature control system due to conditions beyond your control.

  • Mechanical Breakdown: Covers mechanical or electrical breakdown to your boilers, pressure vessels, refrigeration systems, piping and mechanical and electrical machines or apparatus that generate, transmit or simply use mechanical or electrical power.

  • Outdoor Signs: Covers an outdoor sign not attached to the building

  • Burglary and Robbery: Covers the risk of theft by outsiders

  • Employee Dishonesty: Covers some risks of theft by your own employees

  • Liquor Liability Insurance: Covers your business against loss or damages claimed as a result of a patron of your business becoming intoxicated and injuring himself or others.  

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Let Griffith Insurance & Financial Services, Inc. help you choose a policy that will fit your individual needs.  Protecting your assets, whether personal, business or both, is our goal.