Running a business can be enjoyable and rewarding, but it’s rarely easy. As the owner of your own company, you’ve taken on considerable risk, making it necessary to prioritize ample risk management and loss control measures. Fortunately, when considering various insurance products, a business owners policy (BOP) may be capable of fulfilling multiple coverage needs while maximizing the cost-effectiveness of your premiums. 
What Is a BOP?
BOPs are multifaceted insurance products intended to help commercial entities address several types of risks and exposures. These policies are typically available to small- and medium-sized companies and may provide lower overall costs than if you were to purchase the various coverages included in them separately. Additionally, BOPs can offer greater convenience and communication capabilities, as your business will work with the same carrier for multiple needs.
What Do Business Owners Policies Cover?
Your BOP can be personalized and tailored to suit your business’s unique circumstances and needs, but in most cases, these arrangements include the following components:
- General liability insurance—These policies can offset other parties’ losses for which you may be at fault, including bodily injuries, property damage and personal and advertising injuries (e.g., slander, libel and copyright infringement).
- Commercial property insurance—This part of your BOP can help you repair, restore or replace tangible assets, such as your business’s buildings, equipment, inventory and furniture. Covered perils typically include fires, theft, vandalism, some types of water damage and certain natural disasters.
- Business interruption insurance—If a covered incident disrupts your company’s operations, this type of insurance may be essential in helping you recoup reduced revenue and pay for ongoing expenses, such as rent and loans.
We’re Here to Help
Contact ProtectALL Insurance today to learn more about BOPs or get a personalized quote.
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.