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What is a Business Owners/Package Policy or a BOP?

April 26, 2017BOP Business owners package policy

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What is a Business Owners/Package Policy or a BOP?

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A. A BOP is a package policy for small businesses that does not require extensive individual underwriting. It combines property and liability coverage in one policy and generally includes additional coverages at no additional premium. Most insurance carriers have customized BOPs for particular industries and services. Q. The insurance company is asking what type of alarm system I have. A. Ask your alarm provider or company to supply a certificate stating the type of alarm and send the certificate to your insurance carrier. Most insurance carriers allow credits to your premium for qualified alarm systems.