{"id":87,"date":"2023-10-16T17:16:33","date_gmt":"2023-10-16T17:16:33","guid":{"rendered":"https:\/\/businessyield.com\/ins\/?p=87"},"modified":"2023-10-16T17:16:35","modified_gmt":"2023-10-16T17:16:35","slug":"business-owner-policy-what-it-is-what-it-covers","status":"publish","type":"post","link":"https:\/\/businessyield.com\/ins\/business-insurance\/business-owner-policy-what-it-is-what-it-covers\/","title":{"rendered":"Business Owner Policy: What It Is & What It Covers"},"content":{"rendered":"

If your business has an office or storefront or sells physical products, a business owner policy may be a good fit. It bundles three important types of business insurance \u2014 general liability insurance, commercial property insurance and business interruption insurance \u2014 into one policy. <\/p>

BOPs are designed for businesses with fewer than 100 employees or less than $5 million in annual revenue, though not all companies are eligible. However, it may not be the only insurance policy you need, though.<\/p>

You will need to buy commercial auto insurance and workers\u2019 compensation insurance separately if you have vehicles or employees.<\/p>

What is a Business Owner Policy?<\/strong><\/span><\/h2>

A business owner policy (BOP) combines protection for all major property and liability risks in one insurance package. This type of policy assembles the basic coverages required by a business owner in one bundle. However, it is usually sold at a premium that is less than the total cost of the individual coverages. <\/p>

Most small businesses need general liability insurance and commercial property insurance when they rent or own an office or other commercial space. On top of that, client contracts often require general liability coverage.<\/p>

Even when coverage isn\u2019t required, a BOP is a wise choice for small businesses that work directly with the public and own valuable business property. This policy protects against financial losses from customer accidents and incidents like fires and burglaries.<\/p>

A BOP typically includes three types of insurance:<\/p>