A basic Business Owners Policy typically includes three or four key coverages:

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Commercial Property Insurance

Protects your building, equipment and inventory.

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General Liability Insurance

Helps cover any medical expenses and bodily injury/property damages you and your employees are legally responsible for.

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Business Income

Helps you pay bills and employees if your business has to temporarily close.

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Crime Insurance

Helps protect your business from fraud, theft and forgery.

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Additional BOP coverage options include:

 

Accounts Receivable

Protects against losses from unpaid invoices.

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Cyber Liability

Covers attacks and damages to computer systems or electronic data.

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Equipment Breakdown

Covers your equipment, including computers.

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Personal and Advertising Injury

Protects against liability for copyright infringement, libel and slander  (Usually included in General Liability)

 

Rented Vehicles

Provides coverage for vehicles you lease, hire or borrow.

 

Employment Practices Liability

Protects against wrongful acts arising from the employment process.

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When considering a BOP, you should choose coverage specific to your industry.

Some coverages aren't available in a BOP, such as Commercial Auto, Workers' Compensation, & Employee Benefits.

 

What types of businesses could benefit from a BOP?

 

Whether you own an auto repair shop, a retail store, an accounting office, or many other types of small business, a businessowners policy can be tailored to your needs. A BOP may make sense if your business:

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• Is located outside of your home.

• Has fewer than 100 employees.

• Has less than $5 million in annual sales.

• Has property or equipment you want to protect.

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BOPs don't cover every type of risk, nor do they make sense for every industry.