A Business Owners Policy, commonly referred to as a BOP, is a package policy for small to medium-sized businesses. The BOP is targeted for low-risk type businesses and offer a wide variety of coverages. If this sounds like your business, then you may be eligible for a BOP.
What Can the Business Owners Policy Cover?
The BOP is a very handy tool for small to medium-sized businesses. With the BOP you have the option to cover multiple parts of the business. If you elect to, a BOP can cover your real property (i.e. your building), your business personal property (i.e. desks, chairs, computers) and general liability insurance. The great thing about it is you can potentially have all of these coverages in one policy, instead of having to keep up with separate policies. Most business owners are extremely busy, so anything that can make their life easier is usually welcomed. In addition when you combine these coverages into one policy it becomes more cost efficient for the business owner.
Another great advantage of the BOP are the endorsements available to provide even more coverage. This could include coverage for loss of business income, equipment break-down coverage, or even your outdoor signage.