If you are a Michigan business owner, you must purchase commercial insurance. Our team at the Vernon Agency can help you to compose your commercial insurance portfolio. If your company is near Flushing, MI, we encourage you to come into our office and discuss your insurance options.
Do You Need a BOP?
Since there are so many types of policies needed to meet legal requirements, some corporate clients have chosen to combine some of their required policies.
One popular type of policy combination is called a BOP (Business Owners’ Policy.) According to Vouch, a BOP will typically combine a business property policy, a liability policy, and a Business Interruption policy. The same website reports that these policies not only help your business meet legal insurance minimums, but they cost approximately 10 to 15 percent less.
According to Vouch, a business property insurance policy will provide coverage for your buildings and coverage if they are damaged or burglarized. Business liability insurance is intended to provide coverage if another company, or a client, brings a lawsuit against your company. A business interruption policy will reimburse you for lost income if your business needs to temporarily close. It’s important to realize that a BOP will not provide all of the required elements of your commercial insurance portfolio, so ask one of our agents which other policies you will still need.
Call Us for Your Appointment Today
When creating your commercial insurance portfolio, there will be many elements required. Our team at the Vernon Agency has the experience needed to explain each type of policy you will need. Corporate clients near Flushing, MI, have discovered that we offer consistently excellent customer service. Call us for an appointment today, and allow us the privilege of working with your company.
