General Liability & Property (BOP)
Business Owner's Policies (commonly called BOPs) are designed to address the typical general liability and property insurance needs of a business (plus a number of other miscellaneous coverages) in a single policy. They were created to provide a simplified approach to commercial insurance for small to mid-sized operations. (You can think of it as "one stop shopping" for insurance coverages that a business might otherwise have to buy separately). Throughout our BOP pages, you will see a “?” next to certain terms that may not be familiar to you. When you click on it, we offer a brief definition of what that term means. All the actual coverage terms and conditions are in the policies we sell, so please understand that the definitions are simply meant to explain what the term means, and are not intended to be a complete statement of coverage provisions.
We do not take a "one size fits all" approach to covering your business. For example, we recognize that a contractor who works at job sites out of a vehicle has different insurance needs than a restaurant owner whose business might include a building, substantial business personal property, regular customer traffic, and exposure to liquor liability.
Business Owner’s Policies can be customized in several ways in order to address the needs and circumstances of specific industries and policyholders. This is done by adding an endorsement to the insurance policy that enhances or modifies what the policy covers in specific ways.
Industry Specific Endorsements
These customized endorsements bundle specific coverages in order to efficiently address the needs of certain groups of policyholders. For example, a retail store endorsement bundles together coverage for things like expenses from having to withdraw merchandise, uncollectible amounts from lost credit card slips, and property you are shipping; while a hotel/motel endorsement can provide coverage for risks such as checked coats and bags, lock replacement, and increased coverage for outdoor fences and signs.
Risk Specific Endorsements
While the basic BOP policy is designed to address the typical insurance needs of any business, a wide variety of specialized endorsements can be applied to make sure a specific exposure is addressed. Dozens of these forms exist and range from addressing Data Compromise Coverage, to Garagekeepers' Legal Liability, to Miscellaneous Professional Liability, etc. We have representatives ready to discuss any coverage concerns you may have.
Increased Coverage Limits
Most coverages in the BOP policy provide reimbursement for losses up to a specified amount (i.e., the limit). Standard coverage limits can often be increased for greater security. For example, a business with a large outdoor sign can request an increase in the limit over the base amount of coverage provided for signs.
With you get important property, liability, and other coverages in a single business owner’s policy from a company determined to put you in control of the insurance buying process. we do this by minimizing the information you need to provide us, recommending coverage options for your business, and explaining things in plain English. and if you ever need help, someone is available to chat or talk on the phone to work with you to cover your business the way you want, as simply as possible.