Insurance companies determine rates for policyholders using algorithms that assess future risk. Your BOP insurance rates may be different from other businesses purchasing the same coverage.
Insurers use information about your policy and business to calculate your premiums. They may consider the following:
The size of your organization
Your location
Your annual revenue
Your insurance policy deductibles
Your coverage amount
Your company’s claims history
Your industry
Your agent can help you tailor a BOP to meet the needs of your business and get a quote.