Agent and policyholder suggestions drives innovation at Central. Impressed by a transparent want 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 impression 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 need to be considered 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. “In the course of the day, enterprise house owners have to concentrate on fulfilling their orders and serving their purchasers, so we’ve created an insurance coverage product for them that’s straightforward to grasp, buy, and preserve.”
With fewer complexities than a industrial strains bundle, the Enterprise Proprietor’s Coverage streamlines the quoting course of and simplifies discovering the correct protection to your small enterprise. Rising effectivity means our policyholders can keep centered 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 obtainable in 22 states and can quickly increase to 24. Eligible lessons embody 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 need to make lower than $6 million in gross sales yearly, they usually can’t exceed $1 million in contractor payroll.
The BOP is at the moment 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 increase protection to Kentucky and New York quickly.
Central’s BOP covers a variety of small companies and industries. The record under supplies an summary of companies at the moment eligible for BOP protection. These not included on this record probably would nonetheless be coated underneath a normal Business Strains Coverage as a substitute of the BOP.
Enterprise Sorts At present Eligible For BOP
- Business Rental Unit Homeowners
- Artistan Contractors
- LRO (for eligible occupancy lessons solely)
- Workplaces
- Retail
- Service
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What if my Small Enterprise Isn’t Eligible?
We plan to increase 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 effective. By offering simplified, complete safety tailor-made to your particular wants, Central ensures you’re safeguarded towards sudden dangers, so you possibly can concentrate on 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 seek out an agent and be taught extra about how the BOP can profit your small enterprise.
