What is covered under a business owners policy?

A BOP generally protects business owners against property damage, danger, business interruption, and liability. While coverage varies from insurance provider to insurance provider, companies can often choose additional coverage, such as against crime, deterioration of merchandise, counterfeiting, loyalty, and more. The policy for business owners covers liability and commercial property claims. Liability coverage includes injuries to customers, damage to other people's property, and advertising-related injuries. Commercial property insurance protects your commercial building and its contents.

What sets a BOP apart is that it includes property coverage for commercial buildings and other personal assets that the company owns and uses. The final price will largely depend on certain characteristics of the company, such as coverage needs, the type of profession, the number of employees and the history of claims. BOP coverage is a great option for small and medium-sized businesses with commercial properties, such as restaurants, retail stores, and offices. One Tower Square, Hartford, CT 06183 This material does not modify or affect in any way the provisions or coverage of any insurance policy or bond issued by Travelers.

When considering a BOP, keep in mind that it usually makes sense to choose coverage specific to your industry and that some coverage isn't available in a BOP, such as business cars, workers' compensation and employee benefits. If your business is open to the public, you are responsible if they fall or are injured while on your property. Whether you own an auto repair shop, a retail store, an accounting office, or many other types of small businesses, the policy for business owners can be adapted to your needs. A policy for business owners combines general liability insurance and property insurance into one easy-to-manage policy.

A business owners policy (BOP) combines several insurance coverages, such as commercial property insurance, general liability and business income, into a single, practical policy. Let's take a closer look at how a business owner's policy can protect your company's finances and property. A policy for business owners, often referred to as a BOP, is an insurance policy that covers the basic needs of most small and medium-sized businesses companies. It's popular with a variety of small and medium-sized businesses, such as restaurants, wholesalers, retail stores, and contractors.

If you need protection for something that isn't covered, there may be policies available to extend coverage. You may find that the cost of your BOP insurance is more expensive if you have a history of claims, high coverage requirements, or higher-than-average risk exposure. When bundled into a single policy, these plans are considerably more affordable than if a company buys them separately. The Business Owners Policy is specifically designed to limit the risk and liability of a business owner in one package.

Jenny Kizzia
Jenny Kizzia

Professional food ninja. Proud coffee expert. Friendly pop culture guru. Certified beer buff. Beer scholar.