California Business Owners Package

We at Paramount think that purchasing a business owners package (BOP) is both intelligent and efficient.

A BOP simplifies coverage needs by combining two of the most important types of coverage for your business into a single policy.  A BOP includes business property and business liability coverage. This is a great way to save money while broadening your coverage for things like fire, theft, lawsuits and loss of income. Additional coverage can be added to a BOP like business income for off-premises, utility services, data breach, and many more. A BOP  is the perfect option for businesses to tailor their business owners policy to meet their specific needs.

Typically, BOPs include property insurance for buildings and contents owned by the company. This coverage comes in two separate forms: standard and special, the latter of which provides more comprehensive coverage. A BOP also includes business interruption insurance, which covers loss of income resulting from a catastrophic event that disrupts the operation of the business. It can also include the extra expense of operating out of a temporary location. Finally, a BOP offers liability protection, which covers your company’s legal responsibility for the harm it may have caused to others.

There are additional coverages within a BOP that could benefit your company. Data breach coverage, for example, is important for any business that handles or stores private customer, patient or employee information. Especially today, now that cyber crimes are more prevalent than ever, data breach coverage has become a necessity for businesses. Another important coverage is professional liability, also known as Errors and Omissions insurance. Paramount knows that you put your professional judgment and expertise at risk daily while running a business. Can your business afford to be sued? Even if you have done nothing wrong; a customer can claim a negligent act, an error or omission in the service provided by your company. Paramount understands the importance of having a profession liability policy in place in order to protect your business.