Small Business Insurance

Does your client’s BOP include restrictions on temporary storage?

April 2019

For many small business owners, square footage is limited and extra equipment, inventory, and supplies make a perfect storm for cluttered workspaces and frustrated employees.  To keep operations running smoothly, small business owners often make the necessary decision to move their unnecessary supplies into temporary storage and in their minds promise to find a more permanent solution… later.

But the reality is that temporary storage solutions for small business owners – like the rest of us – often end up being more permanent ones.  Are your clients’ business owner’s policies (BOP) sufficiently protecting them from the risks they may face when storing their property off-site?

Chubb’s industry leading product includes:

  1. Unlimited time restrictions
    • While many of our competitors offer similar coverage, oftentimes their policies have a limit on the number of days your clients can use temporary storage.
  2. No sublimits
    • With broader terms, Chubb BOP offers your clients temporary storage coverage at the same limit as our overarching off-premises business personal property limit.
  3. No restrictions on locations or establishments
    • While others may require their policyholders to only use temporary storage facilities, Chubb BOP allows your small business clients to select any off-site facility – even your friend’s garage.

To learn how Chubb BOP can better protect your small business clients, please contact your Chubb Small Commercial Insurance territory sales leader.