Business Owners Policy
Business Owners Policy, more commonly known as a "BOP", is a policy that contains many of the insurance coverages needed by most small businesses. Instead of selecting individual coverages, the insurance company offers a package of coverages. While these policies are not standard and they do vary among insurance companies, there are common elements to all BOPs. The basic BOP offers commercial property protection for both building and contents, and liability insurance protection for the operation of your business. The liability protection includes both the operation of your business at its location, and the liability from your products or completed operations.
Some, but not all of the policies, will also offer business income and extra expense protection after an insured loss. BOPs do not contain all of the coverages needed by a small business. They do not cover any workers’ compensation, professional liability, or business auto insurance coverage.
If your business does not meet the criteria for a BOP or needs higher coverage limits, then a commercial package policy would be a better option for your business because it offers more broad coverages.
Pepe Insurance Agency offers free and comparative quotes on business insurance from many carriers so you can get the best possible rate. We will decide if your business qualifies for a BOP. Request a quick business insurance quote today to get started.