A Business Owner's Policy, commonly called a BOP, packages several core business insurance coverages into one policy for eligible businesses.
Rather than purchasing certain property and liability coverages separately, eligible businesses may be able to use one Business Owner's Policy.
The exact policy, limits, extensions and eligibility rules depend on the insurer and the type of business.
Individual BOP forms differ, but general liability, business property and business income are common core coverage areas.
General liability can address qualifying claims involving third-party bodily injury, property damage and certain other liability allegations.
Property coverage can address qualifying covered loss to insured buildings, equipment, inventory, furniture and other business property.
Business income coverage may help with qualifying income loss and certain continuing expenses while operations are suspended after a covered property event.
When a covered event damages business property, the business may also lose the ability to operate normally. Different parts of a BOP can address different parts of that loss.
Commercial property coverage can address qualifying physical damage to insured property.
A covered property event may force operations to stop while repairs are underway.
Business income coverage may respond to qualifying income loss during the covered suspension.
General liability addresses qualifying third-party claims rather than damage to your own business property.
Eligibility rules vary by insurer. Business activity, size, property and other risk information may all be considered.
Eligible shops and retail operations may need both property and liability coverage in one policy.
Certain office-based businesses may qualify depending on business activity and carrier rules.
Some qualifying service businesses may use a BOP for core property and general liability needs.
Certain eligible businesses with equipment, inventory or physical locations may qualify.
A business can depend on far more than the building itself. Equipment, inventory and other physical assets may form part of the property review.
Machinery, computers, tools and other insured equipment.
Qualifying stock and products held by the business.
Desks, shelving and other insured business furnishings.
Certain qualifying improvements made to occupied premises.
Business income coverage may help with certain financial losses when a covered property event causes qualifying operations to stop.
Coverage may address qualifying income that would otherwise have been earned.
Certain ongoing expenses may qualify according to policy terms.
Certain extra expenses tied to continuing operations elsewhere may qualify under applicable coverage.
Business income coverage depends on the policy trigger and covered cause of loss.
A Business Owner's Policy does not automatically replace every other type of commercial insurance a business may need.
Business-owned or qualifying business-use vehicles may require separate commercial auto coverage.
Professional services and alleged errors or omissions may require separate coverage.
Employee-related coverage is handled separately and requirements differ by state.
Businesses handling digital systems or customer information may consider separate cyber coverage.
The work performed and industry can affect BOP eligibility.
Locations, equipment, inventory and property values may be reviewed.
Business size and operating information may form part of carrier eligibility.
Prior insurance and claim information may be requested during underwriting.
Combining coverage in one policy does not make every limit, exclusion or condition identical between insurers.
Check the limits applying to qualifying liability claims.
Review insured buildings, equipment and inventory values.
Check applicable deductibles for covered property losses.
Read what is excluded and which additional coverage has been added.
Basic business information can help determine whether a BOP may fit the operation.
Share business activity, locations and normal operations.
Identify equipment, inventory, furniture and other property that may need insurance.
Consider customer activity, liability risks and the effect of a covered shutdown.
Check limits, deductibles, covered causes, exclusions and any added coverage.
BOP eligibility and policy terms vary by business and insurer.
A Business Owner's Policy, or BOP, is a packaged commercial insurance policy commonly combining general liability, commercial property and business income coverage for eligible businesses.
BOPs commonly include general liability, commercial property and business income or business interruption coverage. Exact policy terms differ by insurer.
No. Eligibility depends on insurer guidelines and can involve the type of business, size, property, operations and other risk information.
Commercial auto is generally handled separately from the core BOP. Businesses with vehicles should review their commercial auto needs separately.
Workers' compensation is generally separate from the core BOP. Employer requirements differ by state and business situation.
Information may include business activity, locations, property values, equipment, inventory, revenue, prior coverage and claim history.
Tell Trinity about your business, property and operations to begin reviewing available BOP options.