I was just doing some studying on the Businessowners Policy (BOP) a policy that combines property and liability coverages into a package for small business.
The basic Insurance Services Office, Inc. (ISO) Businessowners Coverage Form (standard forms used by many insurance companies) is fifty six (56) pages long! And in small print!
I can tell you that if you have or are going to buy a BOP, that you at least read it once over (try not to fall asleep!), so you know what you are buying.
This should be the same for any policy you buy, but I wanted to stress it so important that you know what is covered and what isn’t – so you don’t get any nasty surprises when it is time to file a claim.
Please Read Your Insurance Policies!
Download the Businessowners Coverage Form here – so you can check out the coverages, exclusions and all the other good stuff.
Ethan’s Last Word
The moral of the story is to make sure you read through all of your insurance policies – especially the exclusions.