insurance iconBusiness Owner’s Policy Insurance

Dog with a spyglass

What is a business owner’s policy (BOP)?

A Business Owner’s Policy (BOP) offers an affordable way for small businesses to get the coverage they need. It’s designed specifically for small business owners who want broad protection without high costs. Additionally, it bundles general liability and property insurance into a single package, which simplifies managing your policies. This means fewer bills to pay and less paperwork to handle. By doing this, you save money while staying protected from common risks.

General liability  +  Property protection = BOP

What does it cover?

Physical injury to others
Damage to others’ property
Advertising injury
Repair or replace damaged property
Replace or repair destroyed property
Repair or replace stolen property

 Most policies include the following:

  • Property insurance: Shields your business property from damage or loss due to events like fire or theft.
  • Liability insurance: Protects against claims of bodily injury.
  • Business interruption insurance: Covers lost income and expenses if a covered event forces your business to close.

What is not covered by BOP insurance?

  • Damage to your own property
  • Damage to your own work
  • Injury to your employees
  • Professional services and advice

Why do you need Business Owner’s Policy Insurance?

A BOP is one of the most popular coverages for small business owners. Significantly, it provides affordable protection for property damage, liability claims, and lost income.

How much does a BOP cost?

The cost of a business owner’s policy insurance varies based on the size of your business. Larger businesses generally pay more. The type of property you own may also affect pricing, as some properties cost more to insure.

Additionally, the amount of coverage you choose impacts the cost. Higher coverage limits will lead to higher premiums. Markedly, Gild Insurance customers spend about $500 annually on a BOP.

Get a BOP quote!

Your Gild Insurance Agent is here for you. We will make sure you get the right business insurance for your business. For a free, online quote, try out Gildber! Gildber will compare BOP providers. Offering you a fast, hassle-free option for an online business insurance quote!

BOPs are also customizable! Take a peek at our Business Owner’s Insurance FAQs and blog, The Gildfitter, to explore your possibilities.

Find out if a Business Owner's Policy is right for you.

Get Started
Dog with iPad

Access small business resources for free

The content provided on this site is solely informational and does not replace legal, professional, or regulatory advice.