Business Owners Policy

BOP

BOP IS A PACAKGE OF COMMERICAL PROPERTY AND GENERAL LIABILITY IN ONE POLICY

Businesses can customize a Business Owner’s Policy (BOP) to meet their specific needs by adding optional coverages such as data breach, business income for off-premises utility services, and other specialized coverages. Purchasing a BOP is both smart and convenient, as it simplifies coverage needs by including business property and business liability—two essential coverages that most businesses require—in one policy. This is more efficient compared to purchasing separate policies for business property and business liability.

Another option is to write a Commercial Package Policy (CPP), which is a customized package of two or more coverage forms. The package policy consists of the same coverage forms used when separate policies are written. A premium discount is generally granted when separate coverage parts are purchased as part of a Commercial Package Policy. The most common coverage forms include commercial property, commercial general liability, inland marine, crime, equipment breakdown, and commercial auto.

Types of businesses suited for these policies may include:

• Accountants and Engineering Firms

• Beauty and Nail Salons

• Computer Consultants/Software Development

• Property Owners (Landlords), including but not limited to Commercial, Professional Office Buildings, Mercantile Buildings, Apartment Buildings, Residential Rentals, and Condominium Associations

• Retail Stores (all types), Wholesalers & Distributors

• Small Contractors, including but not limited to Carpenters, Siding Installation, Electricians, Plumbers, HVAC, Mason, Tile/Marble/Stone, Carpet/Flooring Installation, Drywall/Sheetrock, Painters, Landscapers & Lawncutting

• Restaurants, including but not limited to Pizzerias, Delicatessens, Sandwich Shops, Luncheonettes, Family-Type, Fine Dining, Chicken & Chinese Takeouts, Ice Cream & Yogurt Shops