Overview
A Business Owner's Policy combines general liability, commercial property and business income into a single policy. Because the carrier is writing a package, it's often less expensive than buying each coverage separately.
BOPs are designed for lower-risk businesses such as offices, retail shops, small service firms and some contractors. Higher-risk operations may need separate policies instead.
What It Covers
General Liability
Third-party injury and property damage claims.
Property
Your building and business personal property.
Business Income
Lost income after a covered property loss.
Optional Add-Ons
Cyber, employment practices, hired/non-owned auto and more, depending on the carrier.
Who Needs It
- Offices and professional firms
- Retail stores
- Small service businesses
- Light contractors
- Small logistics and brokerage offices
What Affects Your Price
- Industry
- Revenue
- Property values
- Location
- Claims history
Roy's tip: A BOP does not include commercial auto or workers' comp. Most small businesses need those too.
Frequently Asked Questions
Is my business eligible for a BOP?
Eligibility depends on your industry, size and revenue. Tell us about your business and we'll check with carriers.