Business Owners Policy (BOP) Insurance

As a business owner, you must take steps to protect your company’s financial interests and future potential. Regardless of how vigilant you may be in implementing safety measures and risk management tools, certain incidents may be inevitable. Fortunately, a business owners policy (BOP) can provide versatile coverage for many organizations across various industries.

What Is a Business Owners Policy?

A BOP is a multifaceted insurance solution usually intended for small- and medium-sized enterprises. These arrangements bundle several core components of your business’s coverage portfolio, allowing you to minimize total costs compared with what you might spend on separate policies. For example, when considering the value of a business owners policy vs. general liability policy, your premiums for the latter may be lower than the total cost of your BOP, but when considering the additional coverages bundled with general liability insurance, a BOP can be a more cost-effective solution.

What Does a Business Owners Policy Cover?

The exact details of a BOP may vary depending on your needs, preferences, budget and insurance company. However, in most cases, these arrangements are centered around the following three types of coverage:

• General liability insurance can financially protect your company from incidents affecting third parties, such as bodily injuries, property damage and reputational harm.
• Commercial property insurance may cover your business’s tangible assets, including its buildings, furniture, equipment, electronics and inventory.
• Business interruption insurance can help compensate you for ongoing expenses and financial losses arising from disruptions of normal operations, including payroll, rent, loan payments and lost revenue.

How Much Does BOP Insurance Cost?

Your BOP’s premiums may vary depending on your unique circumstances. Insurance companies often consider the following criteria when calculating a BOP insurance quote:

• Location
• Industry
• Annual revenue
• Business assets
• Workforce size
• Prior claims history
• Policy details (e.g., coverages included, limits, endorsements and deductibles)

Get the Right Coverage

Having served businesses in Barton and throughout Vermont since 1978, the team at Rock Insurance is fully prepared to help your business understand the value of a BOP and secure appropriate coverage. Contact us today to get started.