Business Owners Policy
Protecting your business starts with reliable coverage and a broker who understands the Insurance market.
Business Owners Policy (BOP)
A Business Owners Policy (BOP) combines several essential coverages into a single insurance package designed for small and mid-sized businesses. It provides both property and liability protection, helping simplify coverage while ensuring consistent protection for common business risks.
A BOP is often more cost-effective than purchasing separate policies and is suited for businesses that own property, lease space, or interact with the public.
What a BOP Includes
A standard Business Owners Policy generally includes three primary types of coverage:
Property Coverage: Protects owned or leased buildings, business personal property, equipment, and inventory against covered causes of loss such as fire, theft, or certain types of weather damage.
General Liability Coverage: Provides protection if your business is held legally responsible for bodily injury or property damage to others, such as customers or vendors. It also covers legal defense costs and settlements related to covered claims.
Business Interruption (Business Income) Coverage: Helps replace lost income and cover operating expenses if your business must temporarily close due to a covered property loss. This can include rent, payroll, and utility expenses during the recovery period.
Optional Coverages
Depending on the operations and exposures of the business, a BOP can be customized with additional coverages, such as:
Equipment Breakdown – Covers repair or replacement of essential machinery, boilers, or systems damaged by mechanical or electrical failure.
Hired and Non-Owned Auto Liability – Extends liability protection for vehicles not owned by the business but used for company purposes.
Cyber Liability – Helps cover expenses from data breaches or cyber incidents, including notification, recovery, and liability costs.
Employee Dishonesty and Crime – Protects against losses from employee theft or fraudulent acts.
Outdoor Signs and Property in Transit – Extends coverage for movable or off-premises property.
Eligibility and Considerations
A BOP is typically available for businesses within specific size and industry guidelines. Most insurers limit eligibility based on annual revenue, number of employees, or type of operations. Higher-risk industries or businesses with large property values may require separate commercial property and liability policies instead.
When setting up a BOP, businesses should review:
Property limits to ensure adequate replacement cost coverage.
Liability limits appropriate for the scale of operations.
Any state or contractual insurance requirements.
The Jines Group can assist in evaluating whether a Business Owners Policy is appropriate for your operation and help structure coverage to align with your business size, exposures, and future growth.
Business Owners Policy (BOP)
A Business Owners Policy (BOP) combines several essential coverages into a single insurance package designed for small and mid-sized businesses. It provides both property and liability protection, helping simplify coverage while ensuring consistent protection for common business risks.
A BOP is often more cost-effective than purchasing separate policies and is suited for businesses that own property, lease space, or interact with the public.
What a BOP Includes
A standard Business Owners Policy generally includes three primary types of coverage:
Property Coverage: Protects owned or leased buildings, business personal property, equipment, and inventory against covered causes of loss such as fire, theft, or certain types of weather damage.
General Liability Coverage: Provides protection if your business is held legally responsible for bodily injury or property damage to others, such as customers or vendors. It also covers legal defense costs and settlements related to covered claims.
Business Interruption (Business Income) Coverage: Helps replace lost income and cover operating expenses if your business must temporarily close due to a covered property loss. This can include rent, payroll, and utility expenses during the recovery period.
Optional Coverages
Depending on the operations and exposures of the business, a BOP can be customized with additional coverages, such as:
Equipment Breakdown – Covers repair or replacement of essential machinery, boilers, or systems damaged by mechanical or electrical failure.
Hired and Non-Owned Auto Liability – Extends liability protection for vehicles not owned by the business but used for company purposes.
Cyber Liability – Helps cover expenses from data breaches or cyber incidents, including notification, recovery, and liability costs.
Employee Dishonesty and Crime – Protects against losses from employee theft or fraudulent acts.
Outdoor Signs and Property in Transit – Extends coverage for movable or off-premises property.
Eligibility and Considerations
A BOP is typically available for businesses within specific size and industry guidelines. Most insurers limit eligibility based on annual revenue, number of employees, or type of operations. Higher-risk industries or businesses with large property values may require separate commercial property and liability policies instead.
When setting up a BOP, businesses should review:
Property limits to ensure adequate replacement cost coverage.
Liability limits appropriate for the scale of operations.
Any state or contractual insurance requirements.
The Jines Group can assist in evaluating whether a Business Owners Policy is appropriate for your operation and help structure coverage to align with your business size, exposures, and future growth.
