Coverage Overview
A Business Owners Policy, or BOP, provides you with a bundled package of Property and General Liability insurance. It also often includes Business Income/Interruption, Crime and Equipment Breakdown coverages. It is also commonly referred to as a Commercial Package Policy.
General Liability protects your business from another person or business' claims of bodily injury, and related medical costs, property damage, data loss and personal injury.
Business Property protects damage to an owned or rented property and the equipment inside it.
With a bundled package, you’re protected from:
- General Liability
- Bodily injury
- Third party property damage
- Personal injury
- Advertising injury (libel and slander)
- Third party medical expenses
- Business Property
- Related defense costs
- What's NOT covered?
- Damage to other people’s business property in your care, custody and control
- Employee on-the-job injuries
- Malpractice
- Employee discrimination lawsuits or fraud
- Fraud or intentional injury
- Failure to protect sensitive information
Do you need a BOP?
Almost every small business owner needs a BOP because of one or more of the following factors
- Own the building where they work
- Rent a physical space
- Own and work with large amounts of data
- Have employees who could act dishonestly or steal clients' property
- Have business equipment such as computers, printers and furniture
Want to learn more? Contact our small business risk experts.