Business Owner's Policy

Business Owners Policy (BOP)

Business Owners insurance (also known as a Business Owners Policy or BOP) protects small to medium sized businesses from a variety of risks including accidents, property damage, loss of income, crime, and more. A BOP is designed for certain types of small-business owners, and bundles liability and property coverages together into a single policy, resulting in a lower annual premium.

Business insurance is a necessity for even the smallest company in order to protect and maintain its financial health. A Business Owners Policy is designed to offer coverage for businesses with fewer than 100 employees and less than $5 million in sales.

Common BOP coverage include:

  • Commercial general liability coverage (protection from claims of property damage or bodily injury)
  • Property Insurance to protect physical assets
  • Insurance for several other types of loss, including lost income, advertising damage, and more

Business owners interested in increasing their insurance coverage limits can buy additional coverage to supplement their Business Owners Policy. A Business Umbrella Insurance policy may make a BOP even more effective.

BOPs do not cover professional liability, auto insurance, workers compensation, or health and disability insurance.

Does my business qualify for a BOP?

In order to qualify for a Business Owners Policy, your business must meet certain criteria. Generally speaking, a business does not qualify for a BOP if it:

  • Is involved in highly specialized or high-risk operations
  • Occupies large premises
  • Needs business interruption coverage lasting longer than 12 months
  • Needs higher limits of liability than a BOP package offers

The knowledgeable and experienced agents at Boizelle Insurance Partnership are happy to review your current business insurance and discuss the details of a BOP and whether it is right for you and your business. Call today to talk to one of our business insurance professionals.

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