What’s Included in a Business Owners Policy?

A business owners policy (BOP) is a bundled insurance plan that combines multiple types of coverage. Here are the key components of a BOP.

Property Insurance

Property insurance may help cover your business’s physical assets, such as buildings, equipment, inventory and furniture. Whether damage occurs due to fire, theft or natural disasters, this coverage can help your business recover and continue operations.

Liability Insurance

Liability insurance is a vital part of a BOP. It can cover legal expenses and damage if your business is held responsible for injuries, property damage or personal injury claims.

Business Interruption Insurance

Business interruption insurance can help cover lost income and operating expenses if your business must temporarily close due to a covered event, such as a fire or natural disaster. This coverage may provide financial stability during disruptions to help you resume operations quickly.

Additional Coverage

Depending on your business’s needs, a BOP can include additional coverage like cyber liability, professional liability and employment practices liability insurance. These optional add-ons allow you to customize your policy to meet your specific requirements.

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This blog is intended for informational and educational use only. It is not exhaustive and should not be construed as legal advice. Please contact your insurance professional for further information.