What it is
A business owner’s policy, often called a BOP, bundles several coverages into one policy. For eligible small businesses it typically combines general liability and commercial property coverage, and it often includes business income coverage if a covered loss forces you to close for a while.
Whether a BOP is available depends on your type of business, size and the insurance company.
What it may cover
- Liability if a customer is hurt or you damage someone else’s property
- Your building (if you own it), equipment, furniture and inventory after a covered loss
- Lost income and extra expenses while you cannot operate after a covered loss
- Other coverages some insurance companies add, such as equipment breakdown
Who may need it
You may need this coverage if:
- You are a small business such as an office, shop or service company with a limited number of locations
- You rent or own space and want liability and property in one place
- A landlord or client asks for proof of coverage
Coverage, limits, exclusions and eligibility vary by insurance company and policy, so the policy wording is what counts.
Questions worth asking
- Does my type of business qualify for a BOP?
- What is the limit for business income coverage, and for how long does it pay?
- What is excluded, such as earthquake or flood?
- Do I need to add professional liability, commercial auto or cyber coverage separately?
Related coverage
Reviewed by a licensed agent. A licensed CBIS agent goes over this section with you, so you only look at what fits your business.
Ready to talk it through? Call (858) 283-7575 or book a free call with a licensed agent. Not sure this is the right coverage? Start with our guide: what insurance does my business need?