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Business owner's policy for installation professionals

A business owner’s policy (BOP) bundles general liability insurance with commercial property insurance. Small, low-risk installation businesses are often eligible for this cost-saving package.

BOP insurance bundles policies to protect installers

Small installation businesses often choose a business owner’s policy for its extensive coverage and affordability. Consisting of both general liability insurance and commercial property insurance, a BOP covers customer injuries and your own business property under a single plan.

This policy protects against:

  • Lawsuits related to customer injuries or property damage
  • Damage to your equipment or inventory
  • Lawsuits related to advertising injuries, such as slander

What kinds of businesses qualify for a business owner's policy?

Businesses that are eligible for a BOP typically:

  • Have fewer than 100 employees
  • Have a small office or workplace
  • Make less than $1 million in annual revenue
  • Operate in a low-risk industry
  • Need less than 12 months of business interruption insurance

Speak with a licensed Insureon agent to learn whether your installation business can save money with a BOP.

Customize a BOP to fit your business

You can tailor a BOP to match your business needs by adding other types of coverage.

For instance, installation professionals often add a business interruption insurance endorsement to their policy, which covers operating expenses and lost income if your business is forced to temporarily close due to a fire or other covered event.

You could also add inland marine insurance to protect mobile property, such as towed or high-value equipment like backhoes and forklifts that travel to job sites.

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What coverage can a business owner’s policy provide for installation businesses?

A business owner's policy includes different types of coverage to protect against common risks faced by small businesses.

General liability coverage

The general liability portion of a business owner’s policy can pay for legal fees and other expenses related to customer injuries and accidental property damage. It usually includes product liability insurance to protect against damages from recently completed installation projects.

A BOP helps cover third-party lawsuits related to:

  • Bodily injuries, such as a customer tripping over your toolbox
  • Property damage, such as kitchen tiles broken during a refrigerator installation
  • Product liability, such as a newly installed window that leaks and damages the floor
  • Advertising injuries, such as a lawsuit stemming from a Facebook post about a competitor

General liability coverage is especially important for installers, as working in your clients' homes and offices increases the risk of a third-party lawsuit.

Commercial property coverage

The property insurance portion of a BOP can help installation companies cover expenses when damage, theft, or loss occurs at their place of business. For example, you may be confronted with the aftermath of smashed windows and graffiti at the office of your siding installation business.

A BOP pays for business property lost or damaged due to:

  • Windstorms
  • Theft
  • Vandalism
  • Fire
  • Burst pipes

Keep in mind that you'll need to invest in inland marine insurance to protect property in transit, stored off-site, or used at job sites.

Temporary closure

If your installation business is forced to close due to damage from a storm or fire, the results could be financially devastating.

For example, a fence installation business may need to close temporarily after a fire destroys its supplies and materials. Business interruption insurance shields your business from lost revenue and other expenses related to closure caused by a disruptive event.

Talk to a licensed Insureon agent to add business interruption coverage to your BOP.

Other important policies for installers to consider

While a business owner's policy covers the most common risks of running a small installation business, it's not the only policy you need. You should also consider:

Workers' compensation insurance: Workers' comp covers medical bills and disability benefits for work-related injuries and illnesses. It's required in most states for businesses with employees.

Commercial auto insurance: This policy helps installation businesses recover financially from an accident involving their business vehicle. Most states require this coverage for vehicles owned by a business. You may also need a mobile equipment endorsement for employees who drive forklifts and other machinery.

Contractor’s tools and equipment insurance: This policy helps pay for repair or replacement of an installation contractor’s tools and equipment if they are lost, stolen, or damaged.

Cyber insurance: Any business that handles personal information, from credit card numbers to email addresses, should carry this coverage. It helps pay for costly data breaches and cyberattacks.

Get free quotes and buy online with Insureon

Are you ready to safeguard your installation business with a business owner's policy or other type of commercial insurance? Complete Insureon’s easy online application today. Once you find the right policy, you can begin coverage in less than 24 hours.

Updated: September 8, 2023
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