What is a business owners policy or a BOP?
A BOP is a customized policy for small businesses that combines property insurance and liability insurance in one policy, and generally includes additional coverages at little or no additional premium. So it allows you to have broad coverage at affordable premiums. Most insurance carriers have customized BOPs for particular industries and services. Even if you have a BOP, though, most small business owners should consider adding coverage for conditions that might not otherwise be covered. Additional coverages tailored to your industry are often available, such as temperature changes, equipment breakdown, or computer equipment failure.
A BOP is a package policy for small businesses that do 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.
Related Questions
- Most business owners carry a Business Office Policy (BOP) with Comprehensive General Liability (CGL) Coverage. Doesn that cover employment-related cases?
- My Business Owners Policy (BOP) has the Blanket Additional Endorsement G123127B. Do I need to contact my broker to add on additional insured?
- What does a Business Owners Policy (BOP) cover?
