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What Is Business Owner’s Policy Insurance?
A Business Owner’s Policy (BOP) combines business property and business liability insurance into one business insurance policy. BOP insurance helps cover your business from claims resulting from things like fire, theft or other covered disasters. Business owner’s insurance also helps cover claims that could arise from your business operations. These include claims of bodily injury or property damage. They also include claims related to personal and advertising injury.
A Policy Customized to Your Business
Businesses can tailor their Business Owner’s Policy (BOP) to help meet their unique needs by adding coverage options, like:
- Data breach
- Business income for off-premises utility services
- Other specialized policies
A Business Owners’ Policy can be custom-made to fit industry specific businesses. This means it’s great for protecting your business no matter the size, especially small businesses.
BOP insurance for business owners is built to cover companies that generally face the same risks. Customizing your BOP Insurance is an important first step when insuring your business. Small business owners should do this from the beginning to protect against losses and damages early on.
What Is Included in a Business Owner's Policy?
A Business Owner’s Policy (BOP) bundles business property and liability insurance into one policy. This means it can help cover claims of bodily injury and property damage to your building, equipment or inventory.
Some coverages that are included in a BOP are:
Additional Coverages You Can Add to Your Business Owner’s Policy Insurance
There are additional coverages that you can add to your Business Owner’s Policy (BOP) to help tailor coverage to your specific needs. Some popular optional coverages that you can add to your Business Owner’s Policy (BOP) include:
How Much Does a BOP Cost?
The average annual cost our customers paid for a BOP was $1,019, or about $85 a month.1 Remember, every small business is unique and has different needs. So, insurance rates will vary. The best way to find out how much a BOP will cost for your business is to get a quote.
5 Reasons Your Business
Needs a BOP
Business owner's policy insurance will help keep you protected if your company has:
1. Employees:
Workers can accidentally injure customers or cause property damage. With this policy, you'll have protection for them and your business.
2. Any chance of a lawsuit:
If a customer slips and falls at your store, this can help pay their medical expenses and your legal costs.
3. A physical location:
Your BOP policy can help cover businesses run out of your home, a rented or owned office, store or garage.
4. Assets that could get stolen or damaged:
Digital property, equipment, furniture, cash and inventory are all difficult to repair or replace without the right insurance.
5. Private customer data:
If someone steals or loses personally identifiable information, this can help pay expenses like notifying impacted clients and public relations.
To learn more:
Business Owner’s Policy FAQs
What's the Advantage of a Business Owner's Policy?
Purchasing a BOP Policy is smart and convenient. It simplifies coverage needs by including business property insurance and business liability insurance. These are two important coverages combined into one.
Our Business Owner’s Policy (BOP) offers businesses a way to save money while getting broad coverage for things like:
- Fire
- Theft
- Lawsuits
- Loss of income
Our BOP policy is a more affordable option than buying separate business property and liability policies. This policy is an even smarter and more convenient choice for business owners because you can add other coverages to it. Businesses with specific needs can tailor their BOP by adding coverages, like:
- Business income for off-premises utility services
- Data breach
- Professional liability
How Is Business Income Covered in a BOP?
Business income coverage is included in a Business Owner’s Policy (BOP) with The Hartford. With this coverage, your business income is protected if your business is unable to operate due to a coverage property damage, like fire damage. This coverage can help cover your lost income until your business can make repairs and reopen again. It can also help your business continue to pay your operating expenses, like payroll and monthly bills.
What Is the Difference Between a BOP versus General Liability Insurance?
General liability insurance can be purchased as a standalone policy, but most business owners opt for a Business Owner’s Policy (BOP) for more coverage. A BOP combines general liability insurance with commercial property and business income coverage into one convenient policy. With just a general liability insurance policy, you’d only be covered against claims that your business caused property damage, advertising injury or bodily injury to someone. With a BOP, your business would be protected against more risks like fire, theft, wind and lightning and any lost income resulting from a covered loss.
Looking for a Business Owner’s Policy?
You can start a business insurance quote for free online today. We’re an insurance company you can count on. We’ve been helping small businesses get the coverage they need for over 200 years. Save time and get your business insurance online today!
What Our Business Owner’s Policy Customers Are Saying:
“The Hartford is one of the largest small business insurance carriers. Their BOP policies include the right coverages at a great price. They are easy to do business with.”
Jayar H.
“I was in the middle of moving my office location and the new landlord requested their name be on my business owner’s policy. I logged into The Hartford and the process was seamless. One of the best websites I have ever experienced.”
George S.
“I have been a business owner’s liability policy holder for a number of years. The Hartford has been consistently affordable and has offered excellent service during this time.”
Thomas M.
“My interaction with The Hartford website has always been easy, intuitive and quick to use. I appreciate this as a business owner. Thank you!”
Bob A.
Read Business Owner's Policy Claim Reviews (by product)
Commercial Property Insurance
General Liability Insurance
Last Updated: March 12, 2024
** "World's Most Ethical Companies" and "Ethisphere" names are registered trademarks of Ethisphere LLC.
1 Premium amounts presented are based on monthly premium paid by The Hartford's Small Business customers between 1/1/22 and 9/14/23 for 12-month policies. Premium is derived from a number of factors specific to your business and may vary.
Additional disclosures below.
Other Business Coverages
We offer insurance coverages for companies of all sizes – large and small.