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Business Insurance Services
General Business Insurance
Business Income
Business Owners Package
Commercial Liability Insurance
Commercial Property
Equipment Breakdown
Farm and crop insurance coverage
Fleet Coverage
Florist insurance coverage
Insurance coverage for apartment buildings
Insurance coverage for outfitters & guides
Insurance coverage for water well drillers
Wineries and vineyards insurance coverage
Liability Insurance
Catering business insurance coverage
Cleaning business insurance coverage
Commercial Liability Insurance
Directors’ Office Liability
Employment Liability
Kidnap and Ransom Insurance Coverage
Liquor Liability
Professional Malpractice
Special events insurance coverage
Umbrella Excess
Unusual Commercial Insurance Risks
Veterinary insurance coverage
Commercial Auto Insurance
Commercial Auto Insurance
Truck insurance coverage
Employee and Business Operation Insurance
Commercial Umbrella Insurance
Commercial Checklist
Employee Dishonesty
Errors and Omissions insurance coverage
Health and fitness business insurance
Wildland Firefighter Insurance Coverage
Workers Compensation
Business Owners Package
The Business Owner’s Package policy, or BOP, facilitates many of the insurance coverage options needed by medium or small businesses. Since most businesses require a variety of different coverages, BOPs streamline the process by grouping together a lot of their main insurance needs.
A Business Owner’s Package is sometimes referred to as a homeowners policy for a business because of its wide range of coverage, while generally costing less than purchasing the policies separately. BOPs vary between insurance companies, but standard features of the business owners policy cover :
- Business property coverage for buildings, equipment, and contents
- Liability coverage for third-party claims brought against the business which occur on the premises or from products or operations
- Crime insurance for bodily injury or property damage from burglaries, robberies, and vandalism
- Coverage options to protect from employee dishonesty, such as embezzlement and theft
- Vehicle coverage for rented or borrowed vehicles, but not for commercial vehicles owned by the business
- Business income protection, which facilitates reimbursement for up to one year of lost income if due to damage from a covered peril
- Extra expense coverage to pay for necessities required to expedite restoring the business.
By combining all these coverages from separate policies into one policy, you can save money and might avoid coverage gaps. That doesn’t mean it has to be complicated, though. BOPs provide the benefits of additional coverages with the simplicity of having a single policy instead of several policies.
The biggest advantage of a Business Owner’s Package policy is its flexibility. With BOPs, you have the ability to expand your coverage options so that they meet the needs of your growing, changing business.
However, not everything your business could need can be grouped into a single package. Some notable coverages not included in BOPs are workers’ compensation, professional liability insurance, equipment breakdown, and business auto coverages.
