A Business Owner's Policy (BOP) covers you from numerous expenses that could bankrupt your business. This policy offers so much coverage because it's actually an insurance bundle containing two different policies:
With its wide range of coverage (and lower cost), a Business Owner's Policy is essential for many small-business owners. But the best way to understand how this coverage works is by taking a look at BOP claims in action.
Because the General Liability Insurance portion of a BOP covers common lawsuits, let's take a closer look at those situations. Here are some examples of the coverage a BOP offers:
The Commercial Property Insurance portion of a BOP can insure various types of commercial property including…
Let's take a look at a couple examples that show how a BOP can reimburse businesses when their property is lost:
BOPs often cover other types of property loss, such as damage due to some weather events. Always be sure to check your policy to make sure you understand what is and is not covered.