BUSINESS OWNER'S POLICY

Business Owner's Policy (BOP)

Running a business involves balancing growth, daily operations, and risk management. No matter the industry, unexpected events can disrupt operations and create financial strain. A Business Owners Policy, often referred to as a BOP, is designed to bring several common types of business insurance together into a single, streamlined policy to help support small and mid sized businesses.

Common Risks Businesses Face

Many businesses, regardless of industry, encounter risks such as:

• Customer injuries occurring on business premises
• Damage to buildings, equipment, or inventory
• Property losses caused by fire, storms, or theft
• Business interruptions following covered events
• Legal claims tied to day to day operations

A BOP is often structured to address many of these common exposures in one place.

What a Business Owners Policy May Include

Coverage details vary by policy, but a Business Owners Policy often combines key protections that many businesses need.

• General Liability Insurance - General liability insurance may help with claims involving third party bodily injury or property damage. This can include situations such as a customer slipping at your location or damage caused during normal business operations.
• Commercial Property Insurance - Commercial property insurance is designed to help protect buildings, equipment, inventory, and other physical assets. It may help with losses related to events like fire, storms, or theft, depending on policy terms.
• Business Interruption Coverage - Business interruption coverage is intended to help with lost income and ongoing expenses if operations are temporarily halted due to a covered property loss. This support can be critical while repairs are being made.

Why Businesses Choose a Business Owners Policy

A Business Owners Policy is often appealing because it can simplify insurance management by combining coverages, be more cost efficient than purchasing policies separately, support small and mid sized businesses with common risk exposures, and provide a flexible foundation that can be tailored with additional coverage

Is a Business Owners Policy Right for Your Business

A BOP may be a good fit for many types of businesses, including offices, retail stores, service providers, and light manufacturers. Factors such as business size, location, and operations all influence whether a BOP makes sense.

Build the Right Policy for Your Business

Every business is different, and coverage needs can change as your company grows. Working with an insurance professional can help you determine whether a Business Owners Policy aligns with your operation and identify any additional coverage that may be appropriate.

Take the next step toward protecting your business. Contact an insurance professional today to discuss Business Owners Policy options designed to support your long term success.