Business Owner's Policy
A standard business owner's policy (BOP) covers the business' property, liability. BOP's are primarily for small businesses like retail stores, consumer services, wholesale distributers, professional services, and etc. with less than 50 employees and a sales volume of less then about 15 million dollars annually.
What does a Business Owners Policy (BOP) cover?
A BOP covers building and contents. It will also pay to repair or replace your business property, including the items below, if they are damaged by fire or other covered loss in a building that you either own or rent.
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Inventory, equipment, stock, perishables.
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Money or securities on site or in transit to the bank
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Personal property at a job site
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Equipment leased or rented by your business
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Business signs/Glass
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Computers
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Phone equipment
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Valuable records
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Property belonging in your care (Bailee)
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A/C system
BOP's are a combination of a CGL - Commercial General Liability, BP - Business Property and in some cases a Workers Compensation Policy. If you are a small business owner, the BOP might just be the perfect policy for your needs!
