A Business Owners Policy (BOP) from Thimble is all the coverage most small businesses need in one easy package with two main areas: commercial property insurance and general liability insurance. We package them together to cover the most common risks that small businesses face, from slip-and-fall accidents to natural disasters.
Commercial property insurance includes two main things:
- Business Building Coverage* - It’s insurance for your four walls and the roof over your head! This Covers damage or destruction to the physical location. It protects the building’s structure (the walls around your stuff) from a variety of accidents, such as a fire or a rock thrown through a window.
- Business Personal Property Coverage: Property you own and use for business that’s located in, on, or within 100 feet of the business premises listed on your policy. That “property” can be anything from large equipment and inventory down to the paper clips.
*Heads up: Every business is unique, so certain types of business premises aren’t eligible for Business Building coverage from Thimble. It’s always best to get a quote to see what your options are.
And general liability insurance covers a few more crucial risks:
- Property Damage: Your workplace may have slip and fall hazards. Should a client injure themselves while visiting your workplace, you could be liable for their medical expenses as well as pain and suffering.
- Bodily Injury: You may visit your client’s home to perform your services. Should you damage their property during the course of your work, you could be responsible for replacing or repairing the damaged property.
- Personal + Advertising Injury: A part of your job involves advertising your company to grow the business. Should one of your rivals claim that your advertisement damaged their reputation, you could be liable for defamation.
Those are the two main parts, but along with commercial property and general liability coverages, BOP policies from Thimble include business interruption coverage. Eligible businesses can also add other optional coverages, including hired and non-owned auto coverage and equipment breakdown coverage.
Thimble makes it possible to customize a BOP policy to exactly what your business needs. Learn more and get a quote here.