Business Owners insurance, also known as BOP insurance, is a policy that combines both property and liability coverage into one package. In addition, a BOP often includes policy enhancements which provide coverage for Employee Dishonesty, Employment Practice Liability and even Cyber in one package. It’s popular among a variety of small and medium-sized businesses such as restaurants, wholesalers, retail stores and even some contractors.
Provides coverage for commercial buildings and the movable property owned by and used for the business – referred to as business personal property. It can also pay for other things like debris removal, loss of income and pollution cleanup as part of a covered loss.
The liability coverages available on a BOP are the same as those on a general liability policy. This includes protection against liabilities like customer injury and property damage, advertising injury, and product-related claims.
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