BOP insurance: your guide to a business owners policy

You work hard every day to build and preserve your business. But do you know what types of coverage are out there to better protect you and your company? We'll show you how a business owners policy (BOP) makes it simple to safeguard your assets, income, and more.

what is BOP insurance?

Sure, you've heard of business insurance, but what about a business owners policy? A BOP accounts for several coverages in one convenient package for small and mid-sized businesses. BOP insurance is a culmination of coverages designed to protect you and your business in one fell swoop.

key features of BOP insurance

Much like a homeowners policy, a BOP includes a lot of different coverages in one policy. That's a big win-win for most business owners. Some of the main features and benefits of a policy include:

Bundling property and liability coverage

General liability protection alone (which defends your business against claims of bodily injury involving non-employees, medical fees associated with resulting injuries, and accidental damage to others' property — all whether you're at fault or not) is the most basic protection for a business. BOP insurance gives your business that, but goes one step further: it couples general liability protection with property protection (for your business's equipment, merchandise, etc.) at an affordable cost.

Protection for multiple locations

The equipment coverage portion of your BOP protects all of your business furniture and gear/supplies at up to 5 separate office locations, so it's easy to protect your inventory and more in multiple locations at once. Rent or lease equipment or furniture for your business? That's covered, too. A BOP can help protect personal property belonging to others if you're liable for its loss or damage.

Additional coverage options

Some specific coverages can help protect you from steep out-of-pocket costs you would incur if, say, your business is temporarily forced to close due to a covered loss.

With business interruption protection, if a covered disaster (like theft, fire, etc.) hampers the successful operation of your business, your loss of income is covered. Depending on your business, it can also include the added expense of operating out of another location temporarily.

Similarly, a minimal amount of crime coverage (ranging from $1,000 to $5,000) can often be included in your BOP, which can help cover some of the costs resulting from employee dishonesty, computer fraud, and more.

what does a BOP cost?

Your BOP is every bit as unique as your business, so the cost varies depending on your industry and the specifics of your business. But on average, coverage through our partner, BizInsure, can be as low as $42 a month. See if a BOP is right for you by grabbing a free quote.

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