What is a Business Owner’s Policy?

A business owner’s policy or “BOP” is insurance coverage designed specifically for small or medium-sized businesses. Depending upon the insurance company, the size of business that qualifies for a business owner’s policy may be based on revenues or number of employees. A BOP combines several types of insurance coverage in a packaged format, and can be customized to suit a particular business. Generally, this type of policy includes both property and liability coverage.

Policies may also provide coverage to include the following:

• Property claims
• Breakdown of equipment
• Loss of income/business interruption
• Professional liability
• Copyright infringement
• Libel
• Products and completed operations
• Premises liability