Seattle Business Insurance Quote

Do you have a Seattle business insurance policy? Should you have a policy? Buying Seattle business insurance is a smart move but be sure you fully understand what is covered and what is not.

You carry a homeowner’s insurance policy to protect your home, but what about your Seattle business?

Is there an insurance policy out there to protect your business against unforeseen circumstances? Fortunately, there is. It’s called a Business Owner’s Policy (BOP) and it could be the only thing standing between you and a financial disaster in the event of a company crisis. It would be nice if BOP insurance completely insulated your business from loss. Not surprisingly, it doesn’t. Like any other Seattle business insurance policy, a BOP only covers scenarios dictated by the policy itself. However, the big advantage of a business owner policy is that it provides coverage in a variety of insurable areas for less than it would cost to purchase multiple independent policies.

So a BOP can save money for you by combining most of your insurance needs into a single policy. You should also know that BOPs are designed primarily for small to medium sized businesses in Seattle. Large Seattle companies typically don’t qualify for coverage under a BOP. Although the actual areas covered by BOPs vary from policy to policy, the most common BOP coverages include the following:

Seattle Property Insurance

As a small business owner, much of your investment is tied up in physical property, i.e. buildings, equipment, inventory, etc. A single event, like a fire, can have a devastating impact on your investment, so a BOP will cover losses over and above the policy’s deductible amount.

Seattle Business Interruption

Property value isn’t the only loss your business can incur in a disaster. The loss of equipment and property may also force the business to decrease production or shut down entirely until repairs and new equipment are in place. Business interruption coverage provides funds to make up for lost profits and to cover expenses until the business is operational again.

Casualty Protection Business Insurance

Suppose your products or production processes harm someone. Who pays for that? If your BOP has a casualty and liability protection clause, you can sleep soundly knowing that you will be covered should the unimaginable occur as a result of your products.

Crime Insurance Seattle

Sadly, your business needs to be protected from the consequences of crime. A solid BOP will give you protection from all kinds of crimes including burglary, theft, and robbery, as well as more subtle crimes such as employee theft or embezzlement.

Liability Protection Seattle Business Insurance

Lawsuits are simply part of doing business these days. Most BOPs provide liability protection against civil suits for accidents, product liability, slander, copyright infringement, and a variety of other legal liabilities.

Vehicle Insurance Seattle

BOPs wouldn’t be complete if they didn’t also provide coverage for the vehicles owned by your business in Seattle. Rather than obtaining vehicle coverage through another insurer, you should consider looking for a BOP that includes this coverage to help keep insurance costs down.