Business Insurance

Business
Owners’ Policy

A business owners' policy (BOP) is a bundle of insurance coverages that insurance carriers offer to small businesses at a rate that's usually cheaper than purchasing each policy separately. A basic BOP will generally include general liability insurance, commercial property insurance, and business interruption insurance. Business interruption insurance is often required by your lender or the property management that you're leasing your space from. If your business can't operate because of a covered loss (say a storm damages your property), this policy covers operational expenses, such as covering payroll for employees, paying your lease paying taxes, and even covering some lost profits. It's usually capped at a specific length of time or until your business is up and running again, whichever comes first. Insurance companies may include other insurance options in a business owner's policy that cover risks that are unique to your industry. We recommend working with an experienced insurance agent in your industry to get customized coverage for your small business.