Insurance companies offer package policies that combine protection from the major property and liability risks in one policy. One package bought by many small and mid-sized businesses is the business owners policy, or BOP.
Package policies are built for businesses that face similar kinds of risk. Larger companies may buy a commercial package policy or tailor their policies to the risks they face.
A BOP includes
- Property insurance
- For buildings and contents the business owns, in a standard form or a special form with broader coverage.
- Business interruption
- Covers lost income after a fire or other covered disaster disrupts your operation, and can include the extra cost of working from a temporary location.
- Liability protection
- Covers your company's legal responsibility for harm it causes others, such as bodily injury or property damage from your products, installations or services.
What a BOP doesn't cover
A BOP doesn't cover professional liability, business vehicles, workers' compensation, or health and disability insurance. Each needs its own policy, and we can help with all of them.
