Business Owners Policy
A Business Owner's Policy (BOP) is a type of insurance that combines commercial property and general liability insurance into one policy. It can help protect a small or medium-sized business from a variety of claims.
A Business Owner's Policy (BOP) is much like a Homeowners Policy, except for your business. It can help protect your business from a variety of claims, including:
Property damage: Covers the repair or replacement of buildings, equipment, furniture, inventory, and other property
Business interruption: Covers lost income if a business has to temporarily close
Liability: Covers medical expenses, bodily injury, and property damage caused by the business or its employees
Crime: Protects against theft, fraud, and forgery
BOPs can be a good choice for small businesses because they are usually less expensive than buying separate policies. The cost of a BOP varies based on several factors, including:
Business size
Industry
Location
Amount of coverage
Business property value
Number of employees
Claims history