Agent and policyholder suggestions drives innovation at Central. Impressed by a transparent need for expanded small enterprise options, we’ve constructed a Enterprise Proprietor’s Coverage (BOP) that packages small enterprise property and legal responsibility coverages and streamlines the quoting course of.
Right here, we dive into what the BOP is and the way it can positively influence our company companions and policyholders alike.
What’s Central’s Enterprise Proprietor’s Coverage (BOP)?
Now obtainable in 22 states, Central’s new Enterprise Proprietor’s Coverage (BOP) packages a broad vary of property and legal responsibility safety with small enterprise house owners’ wants in thoughts. The BOP provides over 70 coverages, together with Contractor’s Set up, Contractor’s Instruments and Gear, Cyber Suite, Gear Breakdown, Worker Practices Legal responsibility, and extra.
What are the Advantages of the BOP?
Enterprise house owners have fixed calls for vying for his or her time and a focus. Insurance coverage doesn’t must be certainly one of them.
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“Small companies don’t have departments to deal with issues like insurance coverage,” says Anne Russo, Director of Small Enterprise Underwriting at Central. “Throughout the day, enterprise house owners have to deal with fulfilling their orders and serving their shoppers, so we’ve created an insurance coverage product for them that’s straightforward to grasp, buy, and keep.”
With fewer complexities than a industrial strains bundle, the Enterprise Proprietor’s Coverage streamlines the quoting course of and simplifies discovering the suitable protection to your small enterprise. Rising effectivity means our policyholders can keep targeted on what issues most—the success of their enterprise.
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Who’s Eligible for the BOP?
The Enterprise Proprietor’s Coverage is accessible in 22 states and can quickly develop to 24. Eligible lessons embrace commercial condo unit owners, contractors, office, lessor’s risk only, retail, service, and wholesale.
What’s extra, to be eligible for Central’s Enterprise Proprietor’s Coverage, a enterprise should meet particular standards. Their property should not exceed 35,000 sq. toes, they have to make lower than $6 million in gross sales yearly, they usually can’t exceed $1 million in contractor payroll.
The BOP is presently obtainable in Arizona, Colorado, Connecticut, Georgia, Idaho, Illinois, Indiana, Massachusetts, Maryland, Michigan, North Carolina, Nevada, New Hampshire, New Mexico, Ohio, Oklahoma, South Carolina, Tennessee, Texas, Utah, Virginia, and Wisconsin with plans to develop protection to Kentucky and New York quickly.
Central’s BOP covers a variety of small companies and industries. The checklist under gives an summary of companies presently eligible for BOP protection. These not included on this checklist seemingly would nonetheless be coated beneath a common Industrial Strains Coverage as a substitute of the BOP.
Enterprise Sorts Presently Eligible For BOP
- Industrial Rental Unit House owners
- Artistan Contractors
- LRO (for eligible occupancy lessons solely)
- Places of work
- Retail
- Service
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What if my Small Enterprise Isn’t Eligible?
We plan to develop our urge for food within the months forward. Within the meantime, non-eligible small companies can nonetheless be written as a industrial strains coverage. If a Enterprise Proprietor’s Coverage submission is deemed ineligible, Central’s system will quotes for various choices.
As a small enterprise proprietor, your time is efficacious. By offering simplified, complete safety tailor-made to your particular wants, Central ensures you’re safeguarded in opposition to sudden dangers, so you may deal with what issues most—the expansion and success of what you are promoting.
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Discover Out if Central’s Enterprise Proprietor’s Coverage is Proper For You
Click here to search out an agent and be taught extra about how the BOP can profit your small enterprise.
