How to Apply for BOP Insurance
When you fill out an application for a Business Owner's Policy, remember that you're actually applying for two separate policies:
- General Liability Insurance. This protects you from lawsuits filed by people who don't work for your business.
- Property Insurance. This reimburses you for lost or damaged business property.
In fact, many insurance agencies (including us) don't have a separate application for Business Owner's Policies. Our insurance application simply asks whether you're applying for both Property and General Liability Insurance. Because all our clients are small-business owners (and BOPs are only available to small businesses), we automatically check to see if our applicants qualify for a BOP discount.
What Questions Are on a BOP Application?
You're probably wondering what information you need in order to fill out a BOP application. To make your application process as simple as possible, let's walk through what you need to know:
- Basic info about you and your business. This includes your address and website, whether your business is run from home, how long you've worked in the industry, your estimated annual revenue, and other basic details.
- When you need coverage. You are asked for the day you'd like coverage to start. Some of our customers need insurance ASAP, and that's okay. We can usually get it to them within 24 hours.
- Your insurance history. You must list any insurance claims you've made and whether you've been rejected by an insurance company in the past. In this section, you also have to check with your business partners and co-owners (if you have any) to see if they have filed any insurance claims or been rejected by other insurers. Because you need to answer this question to submit the application, make sure you check with your business partners before you begin.
- How much coverage you need for General Liability Insurance. For small businesses, General Liability Insurance policies can range from $300,000 to $2 million in lawsuit coverage.
- How much coverage you need for Property Insurance. Policies start at $5,000 worth of Property Insurance coverage. You choose an amount of Property coverage that corresponds to the value of your equipment, supplies, and commercial property.
- Whether you want coverage for money on premises. Retailers and other businesses that keep cash on site can apply for Property Insurance to cover the value of money they store at their place of business.
- Whether you want coverage for lost income. You can also sign up for Business Interruption Insurance, a type of Property Insurance that covers many of the expenses that accrue when your business is forced to temporarily shut down after a covered loss event.
Where Do I Find an Online Business Owner's Policy Application?
Click the "Get Free Quotes" box on this page (or any page on our site!). The application can take as little as five minutes to fill out, and our agents respond quickly with free insurance quotes for your business.
Insureon's insurance process is streamlined. Our applications are quick. Our quotes arrive in a matter of minutes. And as soon as you're covered, you are able to print a certificate of insurance whenever you need to prove you have coverage.