Businessowners Policy

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Businessowners Policy

An insurance policy that provides coverage in case some event causes a business to relocate or temporarily close. It also provides coverage for damage to the property owned by the business. For example, if an office floods and becomes unusable, a businessowners policy will replace the profits the company would have made during the time the company was closed and also will pay to repair the damage from the flood.
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Business Owners Policies (BOP) were up from flat to plus 1% in May as compared to April 2015.
Bankers Insurance has offered Business Owners policies to customers for over 20 years and has added several innovative products to the portfolio including Preferred Office, Homeowner Association, and Mobile Home Park programs.
But future buyers are going to force carriers to rethink the way they distribute a policy, small business owners policies (BOP) included, according to insurance IT experts.
The initial rollout was for retail business owners policies, to be followed by contractors and garage BOP.
Plus Business Owners Policies (BOP) can be customized to meet specific coverage needs.
Not only are bindable quotes delivered almost immediately, they include total account solutions including Business Owners Policies, Package, Auto, Work Comp and Professional Lines such as E&O, D&O and EPL.
By coverage class, commercial property placements were up to plus 3% from plus 2% the prior month, and business owners policies (BOP) were up to plus 4% from plus 3% in January.
Hiscox offers professional liability insurance quotes direct and online in real-time along with other liability insurance products such as general liability insurance and business owners policies.
When Safeco wanted to add machinery-breakdown coverage to its standard business owners policies last year, it didn't buy the leader in the field--Hartford Steam Boiler.
AIG Direct, eWausau and AtYour all offer the consumer the ability to get quotes or rate indications or submit an application electronically for certain small-business coverages, such as workers' compensation and business owners policies.
In addition to its personal automobile product offering, Safety provides commercial automobile, homeowners, dwelling fire, umbrella and business owners policies.
Dallas-based MarketScout says that directors and officers, general liability and EPLI policies were more expensive compared to April, while business owners policies, crime and fiduciary were less expensive.

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