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Business Owners Policy (BOP)
Business owners insurance, also known as BOP insurance, is a policy that combines both property and liability coverage into one package. It’s popular among a variety of small and medium-sized businesses such as restaurants, wholesalers, retail stores and contractors.
Liability and property protection for your business
BOP Coverage
A business owners policy contains two primary coverages:
Liability
The liability coverages available on a BOP are the same as those on a general liability policy. This includes protection against liabilities like customer injury and property damage, advertising injury, and product related claims.
A BOP doesn’t cover your employees. You’ll need a separate workers’ compensation policy.
Property
Provides coverage for commercial buildings and the movable property owned by and used for the business - referred to as business personal property. It can also pay for other things like debris removal, loss of income and pollution cleanup as part of a covered loss.
Who needs a business owner's policy?
The following small businesses frequently purchase business owner's policy (BOP) insurance:
- Retail store & services
- Food & beverage
- Auto service & repair
- Professional offices
- Commercial Building & Property Owners
Common questions
What kind of businesses need a business owners policy (BOP)?
Small to medium-sized businesses with commercial property should consider a BOP. It combines general liability and commercial property insurance. This combination gives you both liability protection - for things like accidents and lawsuits - and commercial property insurance, which covers your building and business personal property.
What is business personal property?
Business personal property is coverage for property owned and used by your business. It’s a coverage included in a business owners policy.
What does a business owners policy cover?
A business owners policy covers liability claims, like customer injury and property damage not owned by the business, along with protecting your commercial building and its contents.
What's the difference between a business owners policy and general liability coverage?
A business owners policy combines general liability and property insurance into one easy to manage policy. General liability protects your business from third-party liability claims, including bodily injury, property damage and personal injury. There's no need for an additional general liability insurance policy if you have a BOP.
Start Protecting Your Business Today
Our team of in-house specialists are experts at helping small business owners, like you, find BOP insurance coverage. They’ll help you get a quote with the best coverage for your specific business and budget.