A deductible is the amount a policyholder has to pay out of pocket before the insurance provider may cover the costs of the claim.
FAQ_category: Business Owner's Policy (BOP)
Yes, business owner’s policies (BOP) have a deductible. A $250 or $500 deductible is generally typical.
A business owner’s policy (BOP) provides the usual general liability protections: client or customer sues you for injuries or property damage. It may help pay for an attorney, legal fees, medical costs of the hurt client, and advertising. Plus additional property protections. Property protections include repair or replacement of damaged or destroyed buildings, inventory, equipment, furniture, and fixtures.
A business owner’s policy (BOP) is a packaged insurance product. It combines the offerings of general liability coverage and property protection coverage into a single insurance policy. Buy one policy instead of two and save money!