Business Owner's Policy

Business Owner’s Policy

BOPs: Insurance Packages for Small- to Medium-Sized Businesses

A Business Owner’s Policy (BOP) is a package policy typically combining General Liability and Property Insurance, along with other optional coverage, for small- to medium-sized businesses in lower-risk business classes. A BOP may be available depending on the type of business, annual sales, number of employees and other factors.
A BOP typically includes General Liability to cover your commercial liability and property insurance for physical assets, such as contents, that are leased or owned. The package insurance policy may also cover loss of business income and extra expense resulting from a covered loss.
The General Liability insurance coverage of a BOP is comparable to a typical Commercial General Liability policy, providing protection against claims of bodily injury or property damage for which your business may be liable.

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Business Owner’s Policy

General Liability

Typically provides liability insurance for the cost of defending lawsuits from:

• Accidents that cause bodily injury and/or property damage
• Claims such as libel and slander
• False advertising
*General Liability insurance does not cover errors or negligence from professional services.
Business Owner’s Policy

BOP Policy

A BOP policy may include, or you may be able to select as an option:

• Outdoor Sign Insurance
• Money and Securities Insurance
• Employee Dishonesty Insurance
• Water Back Up Insurance
Not all businesses are eligible for a BOP policy. If your business has any of the following characteristics you may not be eligible for a BOP. But don’t worry, we can assist you with obtaining other forms of commercial insurance. 
Business Owner’s Policy

Non-Eligible BOP

Characteristics typically not eligible for a BOP policy include:

• Large premises operations
• High risk or highly specialized operations
• Majority of business conducted off-premise
• Requires liability limits higher than offered with a BOP
Typically, a BOP policy is very competitively priced, however remember the BOP does not provide coverage to items such as Workers Compensation, Professional Liability Exposures or Commercial Auto Insurance.

Commercial Umbrella Insurance

Businesses that need higher liability limits than a BOP offers should consider a commercial umbrella policy, which can be written in conjunction with a BOP. The purpose of a commercial umbrella policy is to protect the business from catastrophic losses.
Commercial umbrella insurance will benefit your company when a covered claim exceeds the limits of your general liability, commercial auto, or employment liability policy. It picks up where the underlying policy leaves off and will cover legal fees, damages, and medical expenses.




Workers' Compensation

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