What Is a Business Owners’ Policy, or a “BOP?”

A business owner’s policy (BOP) is one of the most important investments a business could make. Having insurance can help protect property and other assets that could be costly to replace if something unexpected occurs. Insurance agents may recommend this type of policy, but knowing what it is and what it covers is key. A standard business owner’s policy usually covers the below protections, with additional coverage as an option.

Who Benefits from a BOP?

If you have a business with 100 employees or fewer but have property and equipment, this could be the type of policy that would work well for you. It is not really designed for home-based businesses, but it is a good option for businesses with sales that bring in under $5 million a year.¹

There are additional coverage options available for every type of business that can meet your needs. Speaking with an insurance agent can help you decide what types of coverage options should be included in a business owner’s policy that will ensure your business remains operational year-round. It is important to consider all the options available in a BOP so you can tailor a policy to your needs. Your policy should be specific to your industry and work to make things more cost-effective for you, with everything rolled into one main policy.