Call Us 408-626-7800 ☰ ˟
Logo
Call Us 408-626-7800
  • Home
  • Our Agency
    • About UsImage of right arrow
      • Our Staff
      • Our Locations
    • Personal ProductsImage of right arrow
      • Auto and Homeowners Insurance
      • Automobile
      • Homeowners
      • Other Personal Lines
      • Recreational Vehicle
      • Additional Insurance Services
    • Commercial ProductsImage of right arrow
      • Coverage for Specific Industries
      • Coverage for Your Business
    • Blog
    • Get a Quote
    • Our Providers
    • Contact Us
  • Products
    • Auto and Homeowners Insurance
    • AutomobileImage of right arrow
      • Auto Liability Coverage - Campbell CA & San Jose CA - Coverage Plus Insurance Agency
      • Uninsured/Underinsured Motorist Coverage - Campbell CA & San Jose CA - Coverage Plus Insurance Agency
      • Specialty Auto Insurance - Campbell CA & San Jose CA - Coverage Plus Insurance Agency
    • HomeownersImage of right arrow
      • Property Insurance - Campbell CA & San Jose CA - Coverage Plus Insurance Agency
      • Homeowners Liability - Campbell CA & San Jose CA - Coverage Plus Insurance Agency
      • Renters Insurance - Campbell CA & San Jose CA - Coverage Plus Insurance Agency
      • Condo Insurance - Campbell CA & San Jose CA - Coverage Plus Insurance Agency
    • Recreational VehicleImage of right arrow
      • Boat/Watercraft Insurance - Campbell CA & San Jose CA - Coverage Plus Insurance Agency
      • Motorcycle Insurance - Campbell CA & San Jose CA - Coverage Plus Insurance Agency
      • Motorhome Insurance - Campbell CA & San Jose CA - Coverage Plus Insurance Agency
      • ATV Insurance - Campbell CA & San Jose CA - Coverage Plus Insurance Agency
      • Snowmobile Insurance - Campbell CA & San Jose CA - Coverage Plus Insurance Agency
    • Coverage for Your BusinessImage of right arrow
      • Commercial General Liability - Campbell CA & San Jose CA - Coverage Plus Insurance Agency
      • Contractors Insurance - Campbell CA & San Jose CA - Coverage Plus Insurance Agency
      • Builders Risk Insurance - Campbell CA & San Jose CA - Coverage Plus Insurance Agency
      • Workers Compensation - Campbell CA & San Jose CA - Coverage Plus Insurance Agency
      • Commercial Auto Insurance - Campbell CA & San Jose CA - Coverage Plus Insurance Agency
      • Business Owners Policy (BOP) - Campbell CA & San Jose CA - Coverage Plus Insurance Agency
      • Small Business Liability Insurance - Campbell CA & San Jose CA - Coverage Plus Insurance Agency
      • Commercial Property Insurance - Campbell CA & San Jose CA - Coverage Plus Insurance Agency
      • Surety & Fidelity Bonds - Campbell CA & San Jose CA - Coverage Plus Insurance Agency
      • Small Business Insurance - Campbell CA & San Jose CA - Coverage Plus Insurance Agency
  • Get a Quote
  • Contact Us
  • Blog
  • Location & Hours
Auto con

Auto

We browse through a wide variety of coverages and find the right one for you.

Learn More
Homeowners Icon

Homeowners

We browse through a wide variety of coverages and find the right one for you.

Learn More
Business Icon

Business

We browse through a wide variety of coverages and find the right one for you.

Learn More
Recreational Vehicle Icon

Recreational Vehicle

We browse through a wide variety of coverages and find the right one for you.

Learn More
Home > Blog > How To Estimate Property Coverage For Your BOP
TUESDAY, APRIL 12, 2022

How To Estimate Property Coverage For Your BOP

As a business owner, take care in estimating your annual business insurance property coverage. Estimating property coverage for your BOP plan isn’t hard. That said, it can get a little complicated when your inventory fluctuates.a woman holding an open sign

Generally, your BOP will protect you from most claims. It will also keep your costs low if you’re buying new policies. If you have inventory, though, your plan might not offer enough coverage.

What Property Does Your BOP Cover?

A BOP will protect most of your business’s assets. This includes your building. It also covers:

  • Your equipment
  • Your inventory
  • Your furnishings

These items, often, have a set value. This said, your inventory’s value will usually depreciate. Even if your property isn’t as valuable, your BOP plan will likely still protect you.

The Upper Limit

Your BOP coverage has an upper limit. This upper limit is your plan’s maximum coverage amount. If you face a significant loss, this limit will determine how much protection you can get. You can use this limit when estimating how much coverage you have available.

You can also take note of specific dollar amounts assigned to each item. Your policy lists these amounts in the event you face a significant loss. Are these amounts enough? If they’re not, you might want more coverage.

Can You Boost Your Property Coverage?

When buying a business insurance policy, you should plan ahead. You might find your BOP are too low. If they are, talk to your agent. Your policy needs to reflect your property’s actual value—including your inventory. If you’re like most businesses, your inventory probably changes frequently.

So, what can you do? You can determine what your business’ highest inventory value is. Look at your business’s last 12 months to get an idea of this. Then, add the value of every asset your business owns, including the building, furnishings, equipment and even computers. Your policy needs to cover this amount.

Get the Best Coverage Possible

Most BOP premium minimums are between $350 and $500, but these standard policies might not cover all your property. If you can cover all of your assets, you’ll be able to protect your business in the long run. If assist you in finding a comprehensive, affordable and safe business insurance policy.

Posted 11:08 AM

Tags: business insurance, business owners policy
Share |


No Comments


Post a Comment
Required
Required (Not Displayed)
Required


All comments are moderated and stripped of HTML.

NOTICE: This blog and website are made available by the publisher for educational and informational purposes only. It is not be used as a substitute for competent insurance, legal, or tax advice from a licensed professional in your state. By using this blog site you understand that there is no broker client relationship between you and the blog and website publisher.
Blog Archive
  • 2023
  • 2022
  • 2021
  • 2020

  • business(6)
  • insurance(6)
  • coverage(6)
  • policy(4)
  • auto insurance(3)
  • bop(3)
  • commercial(3)
  • home insurance(3)
  • owners(2)
  • commercial auto(2)
  • business owners policy(2)
  • workers(2)
  • business insurance(2)
  • auto(2)
  • compensation(2)
  • liability(1)
  • professional liability(1)
  • renters insurance(1)
  • flood insurance(1)
  • general liability insurance(1)
  • property(1)
  • homeowners(1)
  • professional(1)
  • claims(1)
  • vehicles(1)
  • filing(1)
  • car(1)
  • employee(1)
  • liability insurance(1)
  • professional liability insurance(1)

View Mobile Version

Contact Us Today!
408-626-7800

Social Social Social

Resources

  • Products
  • Customer Service
  • Payments / Claims
  • About Us
  • Refer A Friend
  • Our Carriers
  • Blog
  • Contact Us

Contact Us

750 E McGlincy Lane, Suite 109
Campbell, CA 95008

Phone: 408-626-7800 | Fax: 408-626-7676 | service@covplus.com
© Copyright. All rights reserved. | Powered by Insurance Website Builder