Business Owner Policy
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Business Owner Policy

If your business has few vulnerabilities and just needs a simple coverage, we may recommend a custom-built Business Owner Policy. A Business Owner Policy, or BOP, is a single policy of bundled coverage, often including general liability and property insurance. This will protect your business from the basic business risks, while remaining low-cost because of the cost-effective bundling of insurance policies. 

Key Points of Business Owner Policy: 

  • Property coverage is often "as named-peril coverage" meaning that coverage only pertains to specifically defined risk factors (ex: fire, explosion, wind, vandalism, etc.)
  • Covered personal property must be kept or stored at a specific location (ex: within 100 feet of the premise)
  • Business interruption insurance policy will cover up to 12 months' business income if forced to shut down because of a covered property-related event
  • Liability coverage applies to third party individuals who suffer bodily injury or property damage on the business premises or as a result of contact with the business's owner or employee, covering medical expenses and legal fees
  • Businesses must meet eligibility criteria to qualify