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Business Owners Policy 

First Choice Insurance Services is Long Island's Leader provider of Personal Insurance. Our extensive network of carriers give us the ability to competitively quote a wide range of insurance types.

Commonly referred to as a "BOP", this insurance policy may cover BOTH property and liability damages. These policies provide insurance for restaurants, wholesalers, retail stores, and contractors alike. Our clients find a deeper peace of mind knowing the assets that feed their families are protected from property damage, peril, business interruption, liability lawsuits, crime, spoilage of merchandise, forgery, fidelity because we make sure you are insured to a value that is reflective of what your business is actually worth. This way, you never pay too much and will always be made whole after a claim. With a combined experience of 15 years in business, we have the versatility to understand all your needs. Give us a call, together we can secure the interest of your business.

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Do I need a Business Owners Policy?

A BOP consists of general liability insurance and commercial property insurance. Neither of these policies is required by law in order to run a business. It is common in many industries that operating partners which you do business with will have general liability insurance requirements. If you want to sign a client contract with these requirements of liability, then you may need this type of policy. Proof of general liability coverage is also required to apply for certain professional licenses. Many commercial landlords require tenants to purchase commercial property insurance. A landlord might ask to see proof of coverage before you can sign a lease. Most importantly a simple slip and fall can justify a liability case for the plaintiffs “human life value”. That value will often exceed the entire small business's revenue.

How much BOP coverage do I need?

The suggested BOP coverage you need depends on factors such as the type and size of your business, number of employees, and the type of customers you typically work with. Small business revenue could be exceeded by a simple lawsuit so we would want to cover that revenue in full. This way you can have the peace of mind most of our clients have, “no matter what happens my business will remain profitable”. The average small businesses opt for the standard $1 million/occurrence- $2 million/ aggregate. This policy will pay up to $1 million to cover anyone's claim, with a $2 million limit for the lifetime of the policy, which is typically one year. 

What coverage does a Business Owners Policy provide for social media risks?

The general liability portion of your BOP will include advertising injury coverage. This coverage will provide protection for lawsuits related to libel, slander, and invasion of privacy, as well as copyright or brand infringement. Our clients can now freely navigate their social media campaigns knowing they are completely covered.

Interested in a Business Owners Policy Insurance quote call us today 631-392-4415

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