Finding the Best Business Owners Policy (BOP)

Finding the Best Business Owners Policy (BOP)
(Finding the right coverage has never been easier)

(The notorious BOP of the small to mid-sized business world)

Well look at you, you finally decided to wave goodbye to a 9-to-5 and set up your very own business. Sure, being your own boss is awesome, but it also means you’re playing for keeps and are on the hook for success. This makes finding the right insurance to protect your money-making endeavor pretty important.

Lucky for you, there’s a way to find top coverage that’s easy and affordable. Introducing the business owners policy, commonly referred to as a BOP. 

Our independent insurance agents are BOP rock stars and will walk you through a handpicked selection of sweet options that will keep your business up and running.

What Is Business Owners Policy Insurance?

A Business Owners Policy is insurance that allows a small business (that meets certain criteria) to combine coverage from multiple policies into one convenient package. These days, there’s a BOP for most mainstream businesses, from hair salons to hardware stores, which makes the process easier.

Why Do I Need a Business Owners Policy?

If there is damage to your property or the property of others, employee theft, mechanical difficulties, or an everyday accident at your business that causes a loss of income, a BOP can keep you from hitting the panic button.

Terrible things can happen if you don’t have a BOP:

  • Financial ruin: Why risk paying out of pocket and possibly going bankrupt, when you could just pay for a BOP that is fairly inexpensive?
  • Lawsuits: Legal issues can not only be costly, they can also be very time-consuming, so one accident has the potential to bring down your business.
  • Losing your stuff (or other people’s stuff): Recovering the costs of theft, damage to buildings or broken equipment could send your company into a downward spiral.

What Does a Business Owners Policy Cover?

BOPs provide most of the insurance coverage a standard business would need. It’s kinda like an appetizer sampler, but with the coverage of a full meal, and these tasty platters are premade and ready to serve.

Your menu of coverage can include:

  • Property: The building and its contents.
  • Property of others: In case you’re “holding” stuff for a friend.
  • Business income: Lost income and employee salaries while you rebuild after a disaster.
  • General liability: Because you can be sued for A LOT.
  • Employee dishonesty coverage: Because sometimes employees have their own agendas.

Other needs:

  • Mechanical/machinery difficulties.
  • Front store window replacement.
  • Hired and non-owned autos (i.e., you don’t own a company car but employees are still driving to do your dirty work).
  • Loss of valuable papers (money doesn’t grow on trees, after all).

How Much Does a Business Owners Policy Cost?

The cost of a BOP depends on the coverage limits and a number of other factors like size, location and materials used. So a hipster hair salon in Milwaukee might only pay $200 a month, whereas a logging company on the north coast of California could pay $2,000 a month. 

Basically, the safer and smaller the company, the cheaper the premium.

Why Are Independent Insurance Agents Awesome?

It’s simple. Independent insurance agents simplify the process by shopping and comparing insurance quotes for you. Not only that, they’ll cut the jargon and clarify the fine print, so you know exactly what you’re getting.

Independent agents work for YOU and not one insurance provider Actually, they’re the only agents who can check policies from multiple carriers. Plus, you’ll never outgrow an agent; they have the flexibility to find the right coverage as your business continues to expand and evolve.

Get the 411 on a BOP for Your Business

There’s no business too small for our gifted insurance agents. They’ll review your industry and needs and give you options for which insurance coverage makes the most sense. Most importantly, they’ll make straight BOP-to-BOP comparisons to ensure you have the best policy at the best price. 


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