Business Owners Package policies, commonly called “BOP Insurance”, contains many of the insurance coverage policies needed by most small businesses. While these policies are not standard, due to great variation from insurance company to insurance company, there are certain common elements. The basic BOP insurance plan offers business property protection for both building and contents, and liability insurance protection for the operation of your business. This liability protection will generally include both the operation of your business, at its established location, and the liability from your products or completed operations.
Some, but not all of the policies, will also offer business income and extra expense protection after an insured loss. BOP insurance policies do not contain all of the coverage needed by a small business. Notably, they do not cover any workers’ compensation, professional liability, or business vehicle coverage.
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