Looking for a small business insurance quote in Springfield MO? You’ve come to the right place. We’ve gone to great lengths to try and make it as easy as possible to get a business coverage quote from the best commercial insurance carriers available to your small business in Springfield MO.
First, let’s cover some business insurance basics to get you headed in the right direction.
Most small businesses can purchase insurance protection that combines commercial property insurance, commercial general liability insurance, and business interruption insurance into one nice, neat little package, called a Businessowners Policy, or BOP for short.
We love acronyms in the insurance business. Why waste our breath saying Businessowners Policy over and over again when we can simply say BOP and expect that you’ll know what we mean, as opposed to the BOP’s older brother, the traditional Commercial Package Policy, or CPP.
So what is this Businessowners Policy, this BOP, and what makes it different from other business insurance coverage like the traditional Commercial Package?
The easiest analogy might be to think of a BOP as the business insurance equivalent of the homeowner policy for your home, since it combines liability, property, business interruption, plus a host of other business specific coverage features that try to anticipate the most common exposures to loss that small business owners face. More importantly, the businessowners policy bundles that coverage at a fraction of the cost of the alternative, the traditional Commercial Package Policy.
If you prefer another analogy, think of ordering dinner at a restaurant.
The traditional Commercial Package Policy (CPP) is like ordering from the “a la carte” menu where every item is priced individually. Steak, potato, vegetable, salad, desert, and would you like some employment practices liability coverage with that for an additional $300 sir? You may get a larger portion size of each item ordered, but you’ll certainly pay more for it.
The Businessowners Policy (BOP) by comparison would certainly be the manager’s special. Your choice of entre, side dishes, desert and drink for one low price. Even if you don’t want or plan to eat the desert, it comes with the special anyway.
As agents, we’ll try to find a company that offers a Businessowners Policy for your business classification every time we can. If you need a business insurance quote, the first thing we’ll do is try and find a BOP.
First of all, don’t let size fool you. While the BOP started out to cover “smaller” businesses, some pretty big small businesses can be written on a BOP. We have industry leading carriers willing to write “small” businesses with property values up to $20 Million per location and sales as high as $25 Million per location. That’s a big “small business” by any definition.
Businessowners Policy eligibility has more to do with your business operations and where they fall on the hazard scale from low to high. Just as the BOP started out as a coverage solution for smaller accounts, it was available to limited business classifications as well. Over time, the list of eligible business classifications has grown tremendously. Today we have hundreds of individual business classifications in the office, retail, service, wholesale, light manufacturing, and artisan contractor business sectors who are eligible for a BOP.
In fact, between Bill White Insurance Agency and our insurance partner companies, we have well over 500 business classifications that can be quoted over the phone in a matter of minutes.
To get started, contact us with some basic information about your business. Every business is unique, and no one knows your business better than you, but we have a pretty good idea which insurance company is most competitive in your industry classification.