Business owner's policy

A business owner’s policy (BOP) is defined as the combination of two important forms of insurance – commercial property and general liability – into one convenient package. Business owner’s policies usually cost less than buying the two coverages separately.

A business owner’s policy bundles two policies to protect against liability and property risks. General liability insurance protects against common lawsuits, while commercial property insurance covers your business property.

Equipment breakdown coverage is a form of insurance that provides funds to repair or replace damaged machinery or equipment that has suffered a mechanical or electrical failure.

A BOP bundles general liability and commercial property insurance at a discount. Your level of risk, the value of your business property, and your policy limits will affect your costs.

A business owner’s policy is one of the most common commercial insurance policies. It’s highly customizable, so the specifics depend on your business. Find out how to get a policy, which businesses are eligible, and the answers to other frequently asked questions below.