Business Owners Policy (BOP)

A business owners policy, or BOP, is an insurance policy for small and medium-sized businesses that combines several business-related risks into one policy.

The policy covers the business property, such as furniture and office supplies.  Other property that can be covered includes property loaned and leased to you, such as copiers, as well as any office buildouts or fixed additions made to your space at your expense.     

Additionally, building coverage (if the business owns the building), crime, business interruption (lost income due to a covered property loss), and general liability are other coverages that can be included. 

Other optional coverages:

  • non-owned autos used by the business
  • tenant legal liability
  • computer and data coverage
  • equipment breakdown

Why a Business Owners Policy is Important

The policy can pay the repair or replacement costs for physical damage. It can provide continued cash flow if the business must close temporarily, which can help a business get back on its feet after a loss.

General liability protects the insured from claims from clients, vendors and others who have suffered an injury or damage to property and allege that the business owners were negligent and liable for their loss.

The policy will pay legal defense costs, settlements and/or verdicts up to the policy limit. Request a quote today to see how a BOP can help protect your organization.

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