Business Owner Policy

What is a Business Owner’s Policy (BOP)?

A Business Owner’s Policy (BOP) combines business property and business liability insurance into one convenient policy. A BOP helps cover your business from claims resulting from things like fire, theft or another covered disaster and from claims involving bodily injury, property damage and personal and advertising injury that could arise from your business’ operations.

 A simple definition of BOP might contain only a few coverages, such as:

  • General Liability - Provides protection if you cause bodily injury, property damage, personal injury or advertising injury.
  • Property - Provides replacement cost coverage for buildings and most business owners' personal property.
  • Professional Liability - Do you give professional advice or provide a professional service? If so, you should probably carry professional liability insurance. This can be endorsed to your BOP.

Who needs a Business Owner’s Policy?

 You should consider a business owner’s policy if:

  • Your business has a physical location, whether it’s out of your home or a rented or owned office, store or other work place.
  • There’s a possibility of you being sued – for example, by a customer who was injured at your work place.
  • You have assets that could be stolen or damaged – whether they’re digital assets, customer data, equipment, furniture, cash or inventory.

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