General liability insurance protects your business if a customer injures himself or suffers property damage while on your premises. If your wholesale company sells directly to the public and a customer replaces his alternator in your parking lot, accidents can happen that you may be held liable for. General liability protects your company from accidents of this sort.
It also protects you from product liability. In the event that a part you sell to another supplier is defective in some way, and brings harm to them or their end customers, general liability helps protect your company from damages.
General liability automatically grows with your company because it provides coverage for new products and new business locations as you add them.
Business Owners Policy (Bop)
A business owners insurance policy protects your tangible and intangible business assets in addition to providing you with general liability coverage.
BOP combines liability, property and income protection all in one.
Property damage can occur due to natural disasters or unusual events that damage or destroy your physical business buildings. BOP covers structures, outdoor equipment and property, and interior tangible property. If you’ve made improvements to the structure, those are covered by a business owners policy as well.
BOP protects your company from the loss of valuable papers. If critical paperwork is damaged or destroyed there could be extensive costs to replace or recreate them. BOP takes care of these expenses for you.
If your auto parts warehouse keeps critical records in digital and electronic form, BOP covers replacement and recovery costs if those are damaged as well.
Unfortunately not all employees are as honest as we hope for them to be, and BOP covers losses caused by dishonest actions such as theft of auto parts and tools, monetary theft and fraud.