A business owners insurance policy is a comprehensive coverage usually written as all-risk unless the insured requests named peril
All risk coverage covers losses from causes which are not specifically excluded.
Named Peril insurance coverage is a policy that instead covers specific losses listed on the policy, opposite of All-Risk.
Perils that are usually excluded from BOP (Business Owners Policy) include:
- Nuclear Damage
- Government Operations
- Military
- Pollution
- Sewage Backup
- Earthquakes
- Power Failure
- Inherent Vice (Normal Wear and Tear)
- Decar, Rust
- Loss Caused By Animals
- Intentional Illegal Actions Performed by Name Insured
- Criminal Acts by the Name Insured’s Employees
- Errors in the Computer System of the Insured Business Owner
- Property Loss that is a result of Faulty Design, Development, or Planning
Speak with a licensed Insurance Professional from V.W. Gould Agency to assess your current Business Owners Policy
It is important that as a business-owner you understand the exclusions and realize the potential for various coverage’s that need to be obtained to fill in the holes left in the exclusions. A representative at V.W. Gould Agency is ready to assist you in determining the c overages you may need to avail yourself of. To speak with a licensed insurance professional in regards to your commercial insurance policy give us a call today at (386) 734 3970.
