A business owner’s policy (BOP) bundles general liability insurance with commercial property insurance. It typically costs less than if the policies were bought separately.
From massage therapists to hairstylists, personal care business owners often invest in a business owner’s policy for its extensive coverage. Consisting of both general liability insurance and commercial property insurance, a BOP covers customer injuries and your own business property under a single plan. This policy protects against:
Businesses that are eligible for a BOP typically:
Speak with a licensed Insureon agent to learn whether your business is eligible.
Even in the low-risk environment of a day spa or nail salon, accidents happen. The general liability portion of a business owner’s policy can pay for legal fees and other expenses related to customer injuries or property damage. It usually includes product liability insurance to cover harm caused by products sold at your business.
A BOP helps cover third-party lawsuits related to:
The property insurance portion of a BOP can help personal care professionals cover expenses when damage, theft, or loss occurs at their place of business. For example, you may be confronted with the aftermath of smashed windows and graffiti at your barbershop. A BOP pays for business property lost or damaged due to:
If your personal care business is forced to close, it could cause substantial financial setback. For example, your medical spa may need to close for renovation after a fire. Business interruption insurance shields your business from lost revenue and other expenses related to closure caused by a disruptive event.
Talk to a licensed Insureon agent to add business interruption coverage to your BOP.
A business owner’s policy covers many risks common to the personal care industry, but it doesn’t protect against work mistakes or employee injuries. Personal care professionals should also consider:
Professional liability insurance: This policy can cover legal costs related to professional mistakes, such as customer complaints that a massage or skin treatment didn’t produce promised results. It's also called errors and omissions insurance (E&O).
Workers’ compensation insurance: This policy is required in almost every state for personal care businesses that have employees. Workers’ comp can cover medical costs and lost wages for work-related injuries and illnesses.
Are you ready to protect your personal care business with a business owner’s policy? Complete Insureon’s easy online application today to compare quotes from top U.S. carriers. Once you find the right policy, you can begin coverage in less than 24 hours.