1701 Gateway Dr. Ste. 431
    Richardson, TX 75080
    972-480-9878
   

 BOPs include:

1. Property insurance: for buildings and contents owned by the company. There are two different forms, standard and special, which provides more comprehensive coverage.

2. Business interruption insurance: it covers the loss of income resulting from a fire or other catastrophe that disrupts the operation of the business. It can also include the extra expense of operating out of a temporary location.


3. Liability protections: it covers your company's legal responsibility for the harm to others which result from your or your employees' faults in business operations that may cause bodily injury or property damage.

BOPs do NOT cover professional liability, auto insurance, worker's compensation or health and disability insurance. You'll need separate insurance policies to cover professional services, vehicles and your employees.
Business interruption insurance can be as vital to your survival as a business as fire insurance. It is not sold separately, but added to a property insurance policy or included in a package policy.

A business that has to close down completely may lose to competitors. Therefore, there are three points you should notice.

1. Compensation for lost: Business interruption insurance compensates you for lost income if your company has to move due to disaster covered.

Business interruption insurance covers the profits you would have earned if the disaster not occurred. The policy also covers operating expenses, like electricity, that continue even though business activities break off temporarily.
2. Sufficient limits: Make sure the policy limits are sufficient to cover your company for more than a few days. After a major disaster, it can take more time to get the business back on track. There is generally a 48-hour waiting period before business interruption coverage kicks in.

3. Price difference: The price of the policy is related to the risk of a fire or other disaster damaging your premises.

Extra Expense Insurance

Extra expense insurance reimburses your company for a reasonable sum of money over and above normal operating expenses to avoid shutting down during the restoration period. Usually, extra expenses will be paid to decrease business interruption costs.