What is BOP and What Does It Include?

What is BOP and What Does It Include?

A BOP is a Business Owner’s Policy and is generally considered the starting point for loss protection for most businesses. If you are starting a business or are considering acquiring business insurance, a basic BOP is the place to start. But what all is included in a BOP and how does coverage protect a business?

General Liability Insurance

This critical portion of a BOP protects a business against the financial loss associated with a liability claim. This can include injuries sustained in an accident, damage to the property of another caused due to the actions of your business or one of its employees, and personal and advertising injury claims. General liability coverage not only financially protects a business from judgments that may be made, but any potential settlements that may be reached. It also can cover the legal costs associated with any liability claims against a business.

Commercial Property Insurance

This coverage protects a businesses’ hard assets like furniture, computers, equipment, inventory and property. It will usually provide coverage for a variety of calamities like fires, theft, vandalism and more. This protection is valuable whether you own or lease your business space and will restore property to its pre-calamity condition.

Business Income Insurance

Sometimes referred to as business interruption insurance, this replaces a company’s income while repairs are being made as a result of a covered claim.

 

as a result of a covered claim. to a damaged business.

Keep in mind, the elements of a BOP; Liability Insurance, Commercial Property Insurance and  Business Income Insurance are just the starting point for a business insurance program. Other coverage to consider is professional liability insurance, data breach insurance, fleet or business vehicle insurance, product liability insurance and others.

Like your personal insurance, your business insurance should be customized to your specific business and the risks you are subject to. Our business insurance professionals can help.

As independent insurance agents, our team can review the coverage of multiple companies. They will seek out the coverage that works best for your situation. Whether you want to start out with a basic BOP or put together a more extensive plan, contact us. Get the protection your business deserves today.


Do you have questions about your insurance? Find an insurance agent near you with our Agent Finder

Search All Blogs

Generic filters

Buzz Your
Insurance Agent

Search for a local agent with our agent finder map.

Agent Finder

Want to learn more about our blog writer?

Read more about KayLynn's background.

Click Here

Search All Blogs

Generic filters

Read More Blogs

Economic Indicators: What Fast-Growing Industries Tell Us

A look at the fastest-growing industries reveals what’s driving today’s economy and our priorities as a society.

Whole Life Insurance: Is it a Worthwhile Investment?

Confused about whole life insurance as an investment? We break down the unique benefits beyond a simple payout.

More Than Just a Car: The Joys and Benefits of Owning a Classic Vehicle

Thinking of buying a classic car? Discover why it can be a great investment and a fulfilling hobby.

Flood Insurance 101: Separating Fact from Fiction

Don’t get caught unprepared. This guide answers your top questions about flood insurance.

Decoding the Past: The Origins Behind Common and Curious Sayings

Unlock the hidden stories behind everyday phrases and discover the surprising origins of familiar sayings.

Essential Foundations: Five Things Your Small Business Needs Today

Setting up for success? Here are five non-negotiable elements for your modern small business.

Confronting Your Fears: Practical Steps Towards a Fearless Life

Tired of being held back by fear? Discover actionable techniques to confront and conquer your anxieties.

Lending Your Keys: The Hidden Risks of Borrowing Your Car

Borrowing your car? Understand the hidden insurance implications before you say yes.

The Shifting Sands of Homeownership: What Happened to the Starter Home?

The starter home is fading away. Discover the factors reshaping the first-time homebuyer’s journey.

Six Men Who Captured Hearts: Universally Loved Figures in American Culture

Explore six beloved men in American popular culture.