Business Owners Policy (BOP)

Business Owners Policy From King Insurance

At King Insurance, we’re committed to providing insurance solutions that keep small- to medium-sized businesses fully protected. We combine various coverage options into one convenient package with more benefits than a typical business policy and better savings overall through competitive pricing.

A Business Owners Policy (BOP) from King Insurance allows entrepreneurs to create a customized insurance policy that combines property, commercial general liability, and crime insurance with any additional coverage types based on their business’ particular needs.

The proper Business Owners Policy can keep your day-to-day operations protected with options such as:

  • Products and Completed Operations
  • Premises Liability
  • Premises Medical
  • Fire Legal Liability
  • Business Income Insurance
  • Building and Personal Property Protection
  • On-Site Equipment Insurance
  • Coverage for Inventory Loss
  • Crime Insurance

Is BOP Insurance Right For Your Business?

Since Business Owners Policies apply only to special types of businesses with specific needs, operations, and risks, it’s important to contact a specialist at King Insurance who can help you determine whether a BOP is right for your small- or medium-sized business.

What does a Business Owners Policy (BOP) cover?

At its core, a BOP bundles business property and business liability coverage into one policy. This allows the business to save money while still receiving broad coverage with essential protections against fire, lawsuits, loss of income, theft, and more. A BOP doesn’t cover auto insurance for business vehicles, professional liability, or workers’ compensation. King Insurance can help you add other types of coverage to your BOP to suit your company’s particular needs.

Who needs a Business Owners Policy?

Any small- to medium-sized business, such as an independent contractor, retail store or restaurant, can benefit from a BOP. While this answer seems trite, most small- to medium-sized businesses have limited or no additional means to stay in operation if a fire, flood, or lawsuit against the business occurs. A BOP protects your business and interests if these hypothetical situations become reality.

Other reasons to consider a BOP include:

  • If the business has a physical location, such as a home office, a rented or owned office or another workplace;
  • If there’s any potential for a lawsuit, such as a customer injured at the business; and
  • If there are assets that could be damaged or stolen, such as cash, customer data, digital assets, equipment, furniture, and/or inventory.

What does a Business Owners Policy typically include?

Business income, commercial property, and general liability insurance are the three types of coverage most commonly included in a BOP. Nonetheless, King Insurance can tailor any BOP to meet the specific needs of your business. Contact us today to learn more!

Business Income Insurance

This type of insurance helps replace lost income if business operations are suspended because of a covered loss. The coverage can help meet payroll, rent, and other financial obligations that ensue.

Commercial Property Insurance

This coverage safeguards the property housing your business, whether owned or rented. Along with the building itself, equipment, fixtures, furniture, and inventory inside are covered.

General Liability Insurance

General liability insurance covers a broad swath of potential liabilities that can arise from everyday business activities, such as:

  • Third-party bodily injuries and/or property damage;
  • Product liability; and
  • Advertising injuries.
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