Business Owner's Insurance Policy
Protect your business with one policy built for 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 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 helps cover:
Property Damage
Covers damage to your buildings, equipment, inventory, and other business property.
Liability Claims
Helps pay for claims of bodily injury or property damage you are legally responsible for.
Business Income
Helps replace lost income if your business has to temporarily close due to a covered loss
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.
General Liability
Provides protection if your business is sued for bodily injury, property damage, pr personal injury.
Commercial Property
Helps protect your building and business property from covered losses like fire, theft, and vandalism.
Business Income
Helps replace lost income and cover operating expenses if your business is interrupted by a covered event.
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.
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We compare options from multiple top-rated carriers to find the right fit.
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Practical guidance and risk management to help you make confident decisions.
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We're here to advocate for you and help make the process smoother.
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Craig Concklin and his father, Tom Concklin got us started in 1981.
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.
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Cyber threats can create serious costs for small businesses, including breach response, forensic work, customer notifications, legal expenses, and reputational damage. Concklin Insurance Agency offers cyber liability insurance, along with resources to help business owners better understand and reduce their cyber risk.