If you run a small business, you know that your insurance coverage is important. You want to pay the best price for this coverage, that’s true. But, you also want to have the coverage that works best for you.
Choosing the best business owners policy (BOP) insurance is often a balancing act of price and coverage. The right level of coverage should always trump the price, so long as you can afford your payments.
That’s why BOP insurance is often convenient coverage for many small businesses. BOP insurance essentially combines the major aspects of different business coverage. You can get many elements of business coverage in a single policy. These policies usually combine many different parts of liability and property coverage.
You can often include different types of liability coverage in your BOP coverage. One important liability that you should ensure your coverage protects is advertising coverage. This type of coverage can protect you if your business causes personal or financial injury through advertising.
Covered aspects of advertising insurance can include:
- Libel—a published false statement about someone else, their business or product
- Slander—a spoken false statement about someone else, their business or product
- Copyright infringement of another’s business attributes or products
- Invasion of privacy—your product, service or targeting methods cause problems for a consumer
- Misappropriation—using another company’s ideas for your advertising purposes
If advertising is a big part of your business, your BOP insurance should include advertising coverage. This coverage can often protect things like your billboards, slogans and other materials.
You often have to prove that any claims were not caused by your intentional negligence. In other words, you can’t usually cause an advertising injury intentionally or with malice. Your insurance will likely deny the claim.
Furthermore, the type of small business you own might not qualify for advertising insurance. Companies like internet providers, ad agencies and publishers have unique risks when it comes to advertising. Companies like these usually need special coverage for their advertising practices.
When choosing a business owners policy, make sure that it addresses your advertising needs. You can often add this coverage area to your personalized plan.
If you have questions about BOP coverage, Matt Roenker Insurance Agency is here to help you. You can explore our website for more BOP options. You can also call us today at 757-671-1111.