Business Owners’ Policy (BOP) 

Business insurance helps cover your business from claims resulting from incidents such as fire, theft or other covered disasters. A business owners’ policy (BOP) typically includes business interruption insurance and liability and property insurance coverage. Your small or medium-sized business may be able to get a discount on business insurance premiums by bundling these essential coverages into a BOP.  


Not every business qualifies to purchase a BOP. Insurers set qualification criteria, and your agent can tell you if your business is eligible. Contact Wilber-Price Insurance Agency in Loveland, Ohio, today to learn more about business insurance and to get a quote.  


What’s Included With a BOP? 


A BOP includes coverage for common risks, and your agent can help you tailor your coverage to meet your organization’s needs. A BOP typically includes the following coverages: 

• Property insurance helps cover the costs of repairing or replacing business-owned equipment and property after a covered event. Companies that lease a building may be required to purchase a minimum amount of property insurance.
• Liability insurance helps cover third-party claims after an illness or injury for which your business is legally liable. It can help cover medical bills, the costs of replacing or repairing third-party-owned property and the company’s legal defense after a covered incident.
• Business interruption insurance helps pay for everyday expenses after a covered loss if you must close your business to allow for repairs. This coverage may also help pay rent at a different location while your primary location is uninhabitable

Adding Coverage to a BOP  


Your business may require more coverage than the three core policies included with a BOP. Your agent can help you tailor your business coverage with endorsements and additional insurance coverage. Depending on your company’s industry and common risks, your agent may recommend the following optional policies in addition to your BOP: 

• Equipment breakdown insurance
• Inland marine insurance
• Cyber liability insurance
• Professional liability insurance
• Employment practices insurance

Your company may be required to carry more insurance than a BOP provides, including: 

• Commercial auto insurance
• Workers’ compensation insurance

What Businesses Are Eligible for a BOP? 


Insurers determine BOP requirements, and your agent can help you understand whether your business may qualify. Eligibility varies by insurer. Reach out to our agency today to see if a BOP will work for your company. 


Get the Business Insurance You Need 


Talk to the agents at Wilber-Price Insurance Group to get a quote for business insurance and to determine whether a BOP will meet your organization’s insurance needs.