The Benefits Of A BOP For Your Storage Business

Wednesday, December 26, 2018

The Benefits Of A BOP For Your Storage Business

Many Americans have more possessions than they can keep in a house. As a result, many turn to self-storage businesses to store these items. So, the owners of the operations must insure their business to the highest degree. It helps guarantee operations remain secure in the event of unexpected problems. Most self-storage businesses can benefit from Business Owner’s Policies (BOPs). These policies include many of the common elements of protection most businesses need.

Self-storage services can start out with BOPs, and at times enhance that coverage. Let’s look at how to approach insuring yourself.

What’s A BOP?

Business insurance doesn’t usually come in just one policy. Indeed, most business owners should carry several policies within their own portfolio. However, by investing in a BOP, self-storage owners might be able to reduce some of that policy load.

BOPs combine several common elements of commercial insurance into one package. That can often save you money on premiums, deductibles, and other standard policy costs. Within coverage, most business owners can find:

The savvy self-storage unit owner can see the benefits of investing in a BOP. However, when you do get one, you’ll need to tailor it to meet the needs of your industry. Limits, exclusions and other parameters should all account for your unique operating risks.

And once you have coverage, you’ll likely need to augment that protection with extra policies. Some of these might include:

The insurance your self-storage business needs depends on quite a few unique characteristics. Talk to your Southwest Commercial Insurance agent about the coverage appropriate for your operation.