A business owner’s policy or BOP is a type of bundled commercial insurance designed for small and medium-sized businesses. Typically, a BOP policy includes general liability insurance and property insurance into a single policy, often resulting in a lower premium, often resulting in a more cost-effective option than purchasing separate policies.
A BOP Policy typically provides small business owners the flexibility to customize a policy to fit their industry and/or unique needs for coverage. Every new business should consider a BOP plan to properly protect their business out of the gate against loss and damages.
We like BOP plans for our small business clients because we can help businesses customize a policy to help meet their unique needs by adding optional coverages like:
- Cyber or data breach
- Media policy
- Professional liability
- Off premise coverages
Who should consider a Business Owner's Policy?
- Those who own or rent property such as a building.
- Have pysical assets i.e., equipment,cmputers, furniture, fixtures, etc.
- Business that has inventory to protect against fire or theft.