How a BOP Can Help Your Small Business 

Running a small or mid-size business comes with unique perils, so you’ll need to account for many types of risks as a business owner. A business owners policy (BOP) can offer essential insurance coverage in a convenient package.

What is a BOP?

A BOP is an insurance policy designed specifically for small to medium-sized businesses. It can provide several key types of coverage under a single policy. Having a BOP may help save on insurance costs since it bundles multiple policy types; however, it may not be suitable in all cases. Talk to your broker to see if your business qualifies.

What Does a BOP Cover?

You may be able to customize your BOP to include coverage that meets your business’s unique needs, but the following are usually included in most BOPs:

• General liability insurance—This may help with third-party losses, such as from bodily injury and property damage, for which your business is at fault.

• Commercial property insurance—This may help with costs if you need to repair or replace your business’s structure, equipment, electronics, or other assets.

• Business interruption insurance—This may help with expenses if your business needs to temporarily shut down or pause operations due to a covered incident.

How Much Does a BOP Cost?

Insurers may consider the following aspects of your business when determining the premium for your BOP:

• Industry

• Size of workforce

• Location

• Revenue

• Claims history

• Policy details

Contact Us

The professionals at Outcalt Kerns Insurance, LLC in Westerville, OH can help you create a BOP that fits your business’s needs and budget. Contact us today for a quote or more information.

This blog is intended for informational and educational use only. It is not exhaustive and should not be construed as legal advice. Please contact your insurance professional for further information.