Insurance since
1894
DeMeritt Agency
Inc.
6 Center St, P O Box
248
Exeter NH 03833
603-778-7304, Toll free in NH 1-800-974-7304
Fax 603-772-8339
contact@demerittagency.com
Business Owners Policy (BOP)
A Business Owners
Policy provides prepackaged Property and Liability insurance coverage
tailored to protect small and medium-sized (“Main
Street”) businesses from a wide range of perils.
ELIGIBILITY
Types of businesses eligible for a BOP
cover a wide spectrum. Note that some businesses — such as
auto repair shops, bars, full-service restaurants, and manufacturing
operations — might be ineligible for a BOP and require other
types of insurance. There are specific size criteria for BOP
eligibility.
COVERAGE
Property:
Loss to your building and business
property. You can choose the Standard Form (“named
perils”), which covers losses from perils listed in the
policy. If you'd like broader coverage — at a higher premium
— the Special Form (“all risk”) covers
losses from all causes unless the policy specifically excludes them.
Property coverage includes your building
and premises, permanently installed machinery and equipment (heating
and air conditioning equipment, etc.), and business personal property
(furniture, business stock, and property stored off premises).
You'll also have coverage against losses
from crime (theft, forgery, counterfeiting, etc.) and for income lost
when your business is unable to operate at full strength (Business
Interruption).
Liability:
Covers the legal liability of your
business for monetary losses to third parties from a variety of causes:
• Bodily Injury — repays visitors injured on your
premises or customers injured by a product
you manufacture or sell.
• Personal Injury — covers violations of privacy,
false imprisonment (for example, detaining
a suspected shoplifter), wrongful
eviction, etc.
• Advertising Injury — pays for losses due to the
written or spoken words of you or your employees (slander,
libel, copyright infringement, etc.).
Optional Coverage:
For an extra premium, you can
beef up your BOP by adding such coverage as:
• Employee Dishonesty: Covers losses to money, securities, and
other property due to employee theft.
• Burglary and Robbery (added to the Standard Form): Covers
loss or damage to your business personal property, including
money and securities, on and off premises.
• Mechanical Breakdown: Covers property damage from the
failure of boilers, heating and
air conditioning systems, or electrical
equipment.
• Outdoor signs.
