What Exactly is a Business Owner Policy?

While you can work with our business insurance experts to craft specific coverage, a business owner policy includes all major property and liability risks your business needs in a single package. A business owner policy is great for small- to mid-sized businesses, as it bundles all of the basic insurance needs, such as commercial property insurance, commercial general liability insurance, and business interruption insurance.

A business owner policy does not cover workers compensation, professional liability, and some other types of coverage. You may want to discuss additional coverage for your business owner policy, such as flood insurance or auto insurance. As a local Utah insurance company, we can work with you to make sure a business owner policy is the right choice for your business needs.

Commercial General Liability Insurance

Commercial general liability insurance covers damage and injuries caused by your business to a third party. This includes bodily injury or property damage caused by errors in service and defective products. This type of business insurance doesn’t cover damage to your business’ property or employee injuries.

Commercial Property Insurance

This type of insurance is essential for business owners because it protects the building where you run your business, inventory, tools, equipment, and more. Commercial property insurance will help you cover costs to replace or repair the previously listed items in case of a break-in, fire, or other situations. Commercial property insurance can also be used if you run your business out of your home, and it can even provide more coverage than homeowners insurance.

Business Interruption Insurance

Business interruption insurance protects against lost income after an event, such as a fire, theft, or lightning. For example, your commercial property insurance would cover the costs for repairs after a fire occurs at your business. The business interruption insurance would cover costs for lost income from destroyed merchandise and costs for relocating the business until the repairs are completed.

Speak with an Expert

“
As a business owner, we don’t have the time to worry about our insurance needs, but we do know how important it is to have the proper coverage.

With Matt and his team at Quality 1st handling our accounts, we know that we never have to worry. Matt/Jim take the time and initiative to make sure that we are getting the most coverage for the best possible rates and always quote several options. His service is attentive and personal and he makes us feel like we are his only client.

Bret Wursten, Central Valley Machine

Utah Insurance Company

At Quality 1st, we have a team of insurance experts that have decades of experience in the insurance industry. Whether you are in need of business owner insurance, home insurance, or auto insurance, we can help you get the right coverage for the right price.

Call: (435) 752-0101
Get a Quote