Protects your business by covering damage or injury to others that you or your employees are legally responsible for. For example, if someone slips on a wet floor in your building and breaks their arm. Coverages typically include:
What is a Business Owner's Policy (BOP)?
A Business Owner’s Policy (BOP) combines common business coverages (General Liability and Property Insurance) into one convenient policy. It’s a great fit for smaller businesses and provides the flexibility to add additional coverages based on your business’s needs. See below for common coverages and features.
What's Covered?
General Liability
Commercial Property
While liability covers damage to others, Property covers things you own, lease or rent from damage, loss or theft including property that you do not own but is is in your care.
Crime
Sometimes an optional coverage, crime insurance protects your business from fraud, forgery and theft.
Loss of Income
Helps pay your bills, expenses and employees in the event your business is forced to temporarily close due to a covered loss.
Optional Coverages
Cyber Liability
Protects your business against the costs of data breaches and other cyber security issues.
Hired and Non Owned Auto
Covers vehicles your business rents, leases or borrows or when employees use personal vehicles for company business.
Employment Related Practices Liability
Covers the employer from wrongful acts arising from the employment process, such as wrongful termination and discrimination.
Contractors Tools & Equipment
Provides coverage for owned and non-owned tools and equipment.
Keep in Mind
While a Business Owner’s Policy packages multiple policies into one, it does not cover everything and you may need to explore additional coverages such as:
- Workers Compensation – If you have employees, workers compensation is required by law and not included in a BOP.
- Business Auto – Coverage for vehicles your business owns
- Professional Liability – Covers mistakes in professional services you provide
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