If you are the owner of your optometry practice, you face risks to your hard-earned business each and every day. Whether a natural disaster shuts down business for months or disconnected internet service halts operations for a day, business owner’s insurance will keep you protected.
While insurance isn’t the most exciting part of owning your own practice, it is critical to giving you the protection and peace of mind you need, should any damage occur. For comprehensive protection of your business, consider learning more about Business Owner’s Policies (BOP).
About Business Owner’s Insurance
Business Owner’s Policies (BOPs) cover a wide variety of business insurance needs, and protect your office, equipment and inventory. It also includes general liability coverage. Depending on your business needs, additional coverage can usually be added to a BOP.
A standard BOP provides:
- Property Insurance – covers your building and what is inside of it, including equipment, furnishings, computers, anything you keep on hand for patients and more.
- Business Interruption Insurance – ensures revenue recovery in the event a property damage claim disrupts your business operations. This portion of a BOP will help make up some of your lost income.
- General Liability Insurance – covers costs associated with third party claims, including bodily injuries, property damage and personal injuries like libel, copyright infringement, etc.
If you own a business, it’s a smart idea to have a Business Owner’s Policy in place. If you think your optometry practice faces additional risks beyond what a standard BOP covers, contact Lockton Affinity.
Coverage may not be available in all states and is subject to actual policy terms and conditions. Coverage is provided by an excess/surplus lines insurer which is not licensed by or subject to the supervision of the insurance department of your state of residence. Policy coverage forms and rates are not subject to regulation by the insurance department of your state of residence. Excess/surplus lines insurers do not generally participate in state guaranty funds and therefore insureds are not protected by such funds in the event of the insurer’s insolvency.