What’s in a business owners policy (BOP) or Commercial Insurance?
A simple definition of BOP might contain only a few coverages, such as:
- General liability – Provides protection if you cause bodily injury, property damage, personal injury or advertising injury. *Eligible contractors can get General Liability as a standalone coverage.
- Property – Provides replacement cost coverage for buildings and most business owners’ personal property.
- Professional Liability – Do you give professional advice or provide a professional service? If so, you should probably carry professional liability insurance. This can be endorsed to your BOP.
But you might be exposed to other risks. Additional BOP coverages might include:
- Identity Theft
- Employment Practices Liability
- Electronic Data and Equipment
- Personal Property of Other
- Valuable Papers and Records
- Blanket Additional Insured
- Limited Property of Others Liability
- Short-Term Pollution from Pollutants at Job Site
- Building & Business Personal Property
- Business Income and Extra Expense
- And more!
Situations vary. You might have simple needs when you start out, but you might realize you need to fill in a few gaps as your situation changes. We’ll help you decide what you need, when you need it.