New Jersey Business Owners Package Insurance (BOP)
Properly insuring your business involves a wide variety of coverages and
can mean purchasing a number of different policies. Fortunately, most
small and even medium sized New Jersey business owners can cover
themselves by purchasing a package policy known as a Business
Owner's Policy or BOP. A BOP is known as a package policy because it
combines a variety of commonly needed coverages into one. It is similar
to your homeowner's policy which combines a comprehensive
Liability Coverage In Your BOP
The Liability Coverage in a BOP is very similar to what
you will find in a General Liability policy. Because of its
package "one size fits all" nature, a BOP is more
limited in its coverage than what is available in a
stand-alone policy. Even so, the average New Jersey
small business should be able to purchase $1 million
to $2 million limits. Not all policies are created equal,
however, so be sure and read the policy and work with
your agent to make sure that any special exposures
your business faces are covered. If not, the insurance
company may offer the additional coverage as an add
on to the BOP, or you may need to purchase it
separately. One example of a coverage that is typically
not included in a BOP is Professional Liability
Coverage
Property Coverage In Your BOP
Most of the basic Property Coverages will be included
in the BOP, including the real property, equipment,
inventory, etc. You should also be able to include
Business Interruption Coverage and basic Employee
Dishonesty Coverage in your Business Owners
Package. Certain business risks may need to be
purchased separately like Product Liability. In addition,
if your New Jersey business depends on specialized
equipment, like a dry cleaner, the basic coverage in a
BOP may not be sufficient.
Special BOP Programs
If you own a common, main-street type of business like a retail store
or a dry cleaner, there may be a BOP that is designed specifically
with your business in mind. Check with your trade association for
insurance recommendations. Insurance companies frequently target
specific types of business. If your business is one of their targets, you
could find a package designed with your business in mind at a very
attractive rate.
Why Buy a BOP
If your New Jersey company qualifies for a BOP - usually meaning
you do not have more than 100 employees and have gross revenues
below $1 million to $2 million - there are advantages. Perhaps most
importantly, by having all of your basic coverages included in the
package, there is much less chance of there being a gap in your
coverage. When you purchase separate policies from separate
companies, it is not uncommon to find duplicate coverage in some
areas and gaps in coverage elsewhere. A BOP is a great place to
start and can be the foundation of your insurance plan. It will probably
not provide you with 100% of what you need, however.
Answer a few questions and
we will provide you with a
quote by email or phone.
Choose the northern New
Jersey Personal, Employee
Benefit or Commercial
insurance coverage you're
interested in from above.
Business Insurance
Business Owners
Package (BOP)
liability policy with a variety of property coverages. Also,
like a homeowner's policy, it can be customized to
broaden the coverage in areas you need.
Click on the link below to fill out a quote request form for a New Jersey
Business Owners Package insurance plan, that regardless of whether
you're a large employer or a small business, will provide exceptional
long term disability insurance coverage for your businesses most
important asset...your employees. Or speak with one of our New
Jersey Business Insurance Specialists to discuss the features.
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We are your local northern New Jersey insurance agency, offering comprehensive
owners insurance packages to businessess in the following cities and counties:
Succasunna, Boonton, Boonton Township, Brookside, Budd Lake, Butler, Cedar
Knolls, Chatham, Chester, Convent Station, Denville, Dover, Dover Annex, East
Hanover, Fayson Lakes, Flanders, Florham Park, Gillette, Green Village, Greystone
Park, Hibernia, High Crest, Ironia, Kenvil, Kinnelon, Lake Hiawatha, Lake
Hopatcong, Lake Intervale, Landing, Ledgewood, Lincoln Park, Lindy Lake, Long
Valley, Lower Montville, Lyonsville, Madison, Mendham, Meriden, Millington, Mine
Hill, Montville, Montville Township, Morris Plains, Morristown, Mount Arlington, Mount
Freedom, Mount Olive, Mount Tabor, Mountain Lakes, Netcong, New Vernon,
Parsippany, Pequannock, Pequannock Township, Picatinny Arsenal, Pine Brook,
Pinebrook, Pompton Junction, Pompton Plains, Powerville, Ralston, Randolph,
Riverdale, Rockaway, Rockaway Valley, Schooleys Mountain, Stirling, Tabor,
Taylortown, Towaco, Troy Hills, Wharton, Whippany, Stanhope, Hopatcong,
Espanong, Hurdtown, Cranberry Lake, Andover, Greendell, Woodport, Springdale,
Oak Ridge, Milton, Sparta, Lake Lenape, Newton, Ogdensburg, Saxton Falls,
Johnsonburg, Allamuchy, Vienna, Hackettstown, Beattystown, Marksboro, Hope,
Townsbury, Washington, Newark, Elizabeth, Rahway, Colonia, Iselin, Avenel,
Woodbridge, Port Reading, Carteret, Perth Amboy, Fords, South Amboy, Metuchen,
Plainfield, Dunellen, South Plainfield, Green Brook, Fanwood, North Plainfield,
Cranford, Scotch Plains, Westfield, Union, Millburn, Springfield, Mountainside,
Gillette, Warren, Watchung, Stirling, Millington, Middlesex, Martinsville, Piscataway,
Edison, New Brunswick, Highland Park, Somerset, Milltown, South River, Bound
Brook, Somerville, Bridgewater, Fairview, Ridgefield, Fort Lee, Leonia, Palisades
Park, Englewood Cliffs, Englewood, Bergenfield, Teaneck, Paramus, Bogota,
Ridgefield Park, Little Ferry, Hackensack, Maywood, Teterboro, South Hackensack,
Rochelle Park, Moonache, Lodi, Hasbrouck Heights, Saddle Brook, Garfield,
Elmwood Park, Woodridge, Carlstadt, East Rutherford, Lyndhurst, Rutherford,
Wallington, Passaic, Clifton, Paterson, Totowa, West Paterson, Little Falls, Great
Notch, North Caldwell, Cedar Grove, Verona, Montclair, Bloomfield, West Orange,
Glen Ridge, Belleville, Nutley, Kingsland, North Arlington, Kearney, Harrison, East
Orange, East Newark, Orange, Irvington, South Orange, Hillside, Townley,
Livingston, Wayne, Morris County, Sussex County, Somerset County, Pasaic County,
Bergen County, Hunterdon County, Union County, and Warren County, NJ. We also
offer business owners insurance services throughout the state of New Jersey,
including the greater New York City area.
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