BOP is a bundled policy that combines different coverages into one to protect small to medium-size business assets. A business owner saves money by choosing BOP as bundle of coverages often costs less than buying individual coverages.
BOP typically includes:
- Property insurance for building and contents
- Business interruption insurance covers loss of income resulting from covered perils that disrupts operation of the business. It may also cover the extra expense of operating from a temporary location.
- Liability protection covers legal responsibility of a company for the harm it may cause due to negligence. The harm may cause bodily injury and or property damage due to defective products, faulty installations and errors in services rendered.
BOP may not cover professional liability, auto insurance, worker’s compensation and health or disability insurance. Separate insurance policies are required to cover these.
Contact us to learn further about Business Owners’ Policy for your existing or new business.