Difference btwn Businessowner’s Policy & General Liabili
by Guest » Tue Jun 15, 2010 08:16 pm
What is the difference between a Businessowner’s Policy and a General Liability Policy?
Total Comments: 2
Posted: Tue Jun 15, 2010 08:23 pm Post Subject:
A business owner’s policy is what is referred to as a package policy. It is designed for small businesses that meet certain criteria. It includes coverage similar to general liability as well as property insurance to cover the business’ assets. Other coverages including Employee Dishonesty can also be added to a business owner’s policy.
Posted: Fri Jan 14, 2011 11:35 pm Post Subject:
A BOP is not a commercial package policy. A commercial package does combine different lines of coverage under the "package", but they are still separate policies. A BOP provides Property and GL coverage under the same policy, and is usually more limited than a stand alone GL policy. BOP's are geared for smaller businesses, and do not provide the flexibility of coverage that would be included on a GL policy. Agents like them b/c they avoid much of the potential for E&O claims, but it's a one size fits all type of product.
Posted: Tue Jun 15, 2010 08:23 pm Post Subject:
A business owner’s policy is what is referred to as a package policy. It is designed for small businesses that meet certain criteria. It includes coverage similar to general liability as well as property insurance to cover the business’ assets. Other coverages including Employee Dishonesty can also be added to a business owner’s policy.
Posted: Fri Jan 14, 2011 11:35 pm Post Subject:
A BOP is not a commercial package policy. A commercial package does combine different lines of coverage under the "package", but they are still separate policies. A BOP provides Property and GL coverage under the same policy, and is usually more limited than a stand alone GL policy. BOP's are geared for smaller businesses, and do not provide the flexibility of coverage that would be included on a GL policy. Agents like them b/c they avoid much of the potential for E&O claims, but it's a one size fits all type of product.
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