Business Owner's Insurance Policy
Protect your business with one policy built for many small businesses
Running a business means managing risk every day. A customer could be injured on your premises, a fire could damage your equipment, or a storm could force you to close temporarily.
A Business Owner's Policy, often called a BOP, helps protect many small and midsize businesses by combining key coverages into one policy. Instead of buying separate policies for several common risks, many business owners use a BOP as a practical starting point for their insurance program.
A typical Business Owner's Policy may help cover:
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Damage to your building or business personal property
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Claims involving bodily injury or property damage
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Lost income if a covered event temporarily shuts down your business
At Concklin Insurance Agency, we help business owners find coverage that fits the way their business actually operates.
What Is a Business Owner's Policy?
A Business Owner's Policy is a business insurance package designed for many small and midsize businesses. It combines three core coverages into one policy:
For many businesses, a BOP provides a strong foundation of protection and can be more efficient than managing several separate policies.
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Frequently Asked Questions
What is a Business Owner's Policy, or BOP?
A Business Owner's Policy, or BOP, is a business insurance package designed for many small and midsize businesses. It typically combines general liability, commercial property, and business income coverage into one policy.
What does a Business Owner's Policy cover?
A BOP typically helps cover property damage, liability claims involving bodily injury or property damage, and lost income if your business has to temporarily close after a covered loss.
What coverages are usually included in a BOP?
Most Business Owner's Policies are built around three core coverages:
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General liability insurance
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Commercial property insurance
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Business income insurance
What is not covered by a BOP?
A BOP does not cover every business risk. Depending on your operations, you may also need separate coverage for:
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Workers' compensation insurance
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Commercial auto insurance
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Professional liability insurance
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Cyber liability insurance
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Flood insurance
Who should consider a Business Owner's Policy?
A BOP may be a good fit for many small and midsize businesses, including retail stores, offices, service businesses, restaurants, contractors, and franchise owners.
What types of businesses usually qualify for a BOP?
Eligibility depends on the carrier and the business. In general, businesses with straightforward operations, moderate property values, and limited locations are often strong candidates.
Do I need a BOP if I lease my space instead of owning it?
Yes, in many cases. Even if you do not own the building, you may still need coverage for business personal property, tenant improvements, liability claims, and lost income after a covered disruption.
If I run my business from home, do I still need a BOP?
Possibly. Homeowners insurance often provides little coverage, or no meaningful coverage, for business property and business liability. A BOP may help protect those exposures.
How much does a Business Owner's Policy cost?
The cost of a BOP depends on factors such as your type of business, location, property values, claims history, payroll, revenue, and the limits and deductibles you choose.
Is a BOP cheaper than buying separate policies?
Often, yes. Because a BOP bundles several core coverages into one policy, it is often more cost effective than purchasing each coverage separately.
What is business income insurance?
Business income insurance, sometimes called business interruption coverage, can help replace lost income if a covered event forces your business to shut down temporarily. It may also help with certain ongoing expenses while you recover.
Does a BOP cover employee injuries?
No. Employee injuries are handled through workers' compensation insurance, not a Business Owner's Policy.
Does a BOP cover business vehicles?
No. Business vehicles usually need a separate commercial auto policy. If employees use personal vehicles for work, hired and non-owned auto coverage may also need to be considered.
Can a BOP be customized?
Yes. Many insurers offer optional coverages or endorsements that can tailor a BOP to your business.
When is a BOP not enough by itself?
A BOP is often a strong foundation, but it may not be enough on its own if your business has employees, vehicles, professional services exposure, cyber risk, flood exposure, or specialized property.
Talk to one of our agents
Optional Additional Coverages
Some insurers offer optional coverages or endorsements that can expand a Business Owner's Policy for certain types of businesses. Depending on your operations, these may include:
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Outdoor sign coverage
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Exterior glass coverage
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Employee dishonesty coverage
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Equipment breakdown coverage
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Builders risk coverage
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Terrorism coverage
It is important to review your policy carefully and identify any gaps that may need to be addressed with endorsements or separate standalone policies.
The Concklin Difference
Family Owned Small Business
We understand small business because we are one. Concklin Insurance Agency was started by Craig Concklin and his father, Tom Concklin in 1981. We continue to be a family owned, small business to this day.
Independent Insurance Agents
We work with more than 30 insurance carriers, which gives us more flexibility to match coverage to your business.
Value Added Services
We offer a wide range of value added services including our Client Resource Portal and comprehensive Training and Learning Solutions Portal.
Community Involvement
We understand the importance of community. Which is why we participate in fund raisers, and donate directly to local and national nonprofits.
Client Advocacy
We help clients think through coverage decisions, risk management, and claims support.
Referral Program
At the end of every quarter we donate $20 for each referral we receive. If you'd like to learn more about our referral program, or send us a referral - click here.
Additional Resources
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