Characterizations of a BOP policy

If you are new to business ownership, the term BOP may also be new to you. BOP stands for Business Owners Policy.  It is an all inclusive policy package geared towards small businesses.  Instead of building a policy section by section as it is done with large companies, a BOP can be an easier solution for smaller businesses that are looking for basic coverage.

BOPs offer both property and liability coverage similar to that of larger business insurance policies.  The difference is that BOPs have requirements that must be met in order for you to qualify for the insurance.  To be eligible for a BOP, you must follow the rules set forth by your insurance carrier.  In most cases, your business must have relatively low hazards and exposures.  There is usually a limit to how many sales can be made per year and how big the sales floor area can be.  Other restrictions may also apply.

When you have a small business, focusing on the business itself is what you want to do.  Handling insurance issues may be the furthest thing from your mind.  We are here to help get you the coverage you need and handle your insurance issues so you can keep your focus where it should be- on your business. Having a BOP can help make it even easier for you.  BOPs can be customized with endorsements just like larger policies so you do not have to worry about whether or not your BOP will work for your business.  There are exclusions that apply, but they can be discussed with your agent.

To find out if your business qualifies for a BOP, contact us and give us the specifications you are looking for in an insurance policy.  Most likely, your business will fit nicely into a BOP program.