Business Owner's Insurance Policy
Protect Your Business With One Policy Designed for Small Businesses
Running a business means managing risk every day. A customer could slip on your property, a fire could damage equipment, or a storm could force you to close temporarily.
A Business Owners Policy (BOP) helps protect your business from several of the most common risks by combining key coverages into one policy.
Instead of purchasing separate policies, many small and mid-sized businesses choose a BOP because it brings important protections together in one place.
A typical Business Owners Policy may help cover:
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Damage to your building or business property
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Claims involving injuries 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.
Request a quote today to see how affordable business protection can be.
Business Owner's Policy (BOP) is a type of insurance that combines several different types of coverage into a single policy. It is typically used by small to medium-sized businesses to provide comprehensive protection against a variety of risks and exposures.
What Is a Business Owners Policy?
A Business Owners Policy is a type of business insurance designed primarily for small and mid-sized businesses. It bundles several important protections into one policy.
Rather than managing multiple insurance policies separately, many businesses choose a BOP because it provides a strong foundation of protection.
The three core coverages included in most policies are:
Each of these protects your business in different ways.
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Frequently Asked Questions
What exactly is a Business Owner’s Policy (BOP)?
Think of a BOP as a "bundle" for small businesses. It combines three essential protections into one policy: General Liability (for lawsuits), Commercial Property (for your gear and building), and Business Interruption (for lost income if you have to close due to a disaster).
What Insurance is Included in a Business Owners Policy?
The three core coverages included in most policies are:
What Is Not Covered by a BOP?
While a BOP provides important protection, it does not cover every possible risk a business may face.
Additional policies may be needed depending on your operations, including:
How Much Does a Business Owners Policy Cost?
The cost of a BOP depends on factors such as the type of business, the value of the property, your location, and your claims history.
Is a Business Owners Policy Cheaper than Buying Separate Policies?
Typically yes. A Business Owners Policy (BOP) is often less expensive than purchasing each type of coverage separately because it bundles several essential protections into one policy.
This is similar to how bundling your home and auto can reduce your premium.
What Businesses Qualify for a Business Owners Policy?
A BOP is commonly used by many types of small and mid-sized businesses.
Examples include:
- Restaurants and cafés
- Retail stores and shops
- Professional offices
- Service businesses
- Contractors and trades
- Franchise owners If your business owns equipment, inventory, or interacts with customers, a Business Owners Policy may be an important part of your insurance program.
What Counts as a Small to Mid-Sized Business?
For insurance purposes, a small to mid-sized business typically has fewer than 100 employees, moderate property values, and straightforward operations. Many businesses that qualify for a Business Owners Policy also generate under $5-10 million in annual revenue, though the exact limits vary by insurance carrier and industry. Retail shops, restaurants, service businesses, and professional offices are common examples that often fit within this category.
If I run my business from home, do I still need a BOP?
Most likely, yes. Standard homeowners' insurance policies typically have very low limits (or zero coverage) for business-related equipment and liability. A BOP ensures your professional gear and client visits are fully protected.
What is "Business Interruption" coverage, and why do I need it?
If a fire or windstorm makes your workspace unusable, this coverage helps replace the income you lose while you're closed. It can also help cover ongoing expenses like rent and payroll during the restoration.
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Optional Additonal Coverages
Insurance companies often develop custom BOP packages which include additional optional policies for specific businesses that generally face the same type and level of risk. These additional coverages may include:
- Outdoor sign coverage
- Exterior grade floor glass coverage
- Employee dishonesty coverage
- Boiler and machinery coverage
- Builders Risk coverage
- Terrorism coverage
It is important to review package policies to ensure there are no gaps and purchase standalone policies to supplement coverage as necessary for your unique business needs.
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
Concklin Insurance Agency has relationships with over 30 insurance carriers. This means we have options to make sure you have the coverage you need, at the best value - uninterrupted.
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
As Trusted Insurance Advisors we are your advocate for all things insurance. We are here to talk about ways to mitigate your losses, provide insights into the insurance market and trends, and ,should a claim occur, we are in your corner every step of the way.
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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Independent Agents act more like Trusted Advisors. We have your best interests in mind, even after coverage is bound. Like a Trusted Advisor, Independent Agents are your advocate if a claim should occur. Being in your corner means being there every step of the way, from helping you decide if a claim should be filed to talking with claims auditors and adjusters, the wellbeing of our clients is our number one priority.
Each month we discuss ways you can better equip yourself to handle your risks and exposures. We bring insights into safety and risk management, answer questions about coverage, and discuss topic relevant to helping you understand your exposures and avoid coverage gaps. We post on average twice per month, with one topic focused on Personal coverage and another topic focused on Commercial & Businesses.