A Business Owner’s Policy (BOP) combines business property and business liability insurance into one business insurance policy. BOP insurance helps cover your business from claims resulting from things like fire, theft or other covered disasters. Business owner’s insurance also helps cover claims that could arise from your business operations. These include claims of bodily injury or property damage. They also include claims related to personal and advertising injury.
Businesses can tailor their Business Owner’s Policy (BOP) to help meet their unique needs by adding coverage options, like:
A Business Owners’ Policy can be custom-made to fit industry specific businesses. This means it’s great for protecting your business no matter the size, especially small businesses.
BOP insurance for business owners is built to cover companies that generally face the same risks. Customizing your BOP Insurance is an important first step when insuring your business. Small business owners should do this from the beginning to protect against losses and damages early on.
A Business Owner’s Policy (BOP) bundles business property and liability insurance into one policy. This means it can help cover claims of bodily injury and property damage to your building, equipment or inventory.
Some coverages that are included in a BOP are:Business property insurance, also called commercial property insurance, helps protect your owned or rented building, tools and the equipment you use to operate your business.
This helps protect your business and its assets in the event of a lawsuit for things like negligence, bodily injury, property damage, libel and slander.
Business Income Insurance, also known as business interruption coverage, helps replace your lost income if you can’t operate because of covered property damage. This includes damage from a fire, wind or theft.
There are additional coverages that you can add to your Business Owner’s Policy (BOP) to help tailor coverage to your specific needs. Some popular optional coverages that you can add to your Business Owner’s Policy (BOP) include:
Most state laws require you to carry this insurance to help cover lawsuits and compensate employees for expenses associated with work-related injuries or illnesses like medical bills, rehabilitation and lost wages.
Professional liability insurance helps protect you and your company if you’re found negligent in the professional services you provided to a client, even if you didn’t make a mistake.
Commercial auto insurance helps cover the cost of an auto accident if you or your employee is at fault. If you or your employees drive a vehicle for business reasons, having the right commercial vehicle insurance is important.
Data breach insurance, also known as cyber liability insurance, helps cover liability expenses from technology-related risks such as a data breach or cyberattack. If you collect, store, send or receive customer information, it’s important to protect against cyber risks.
Although a Business Owner’s Policy (BOP) includes three essential types of business insurance, you may need additional coverage to make sure your business is fully protected. A BOP doesn’t include coverages like workers’ compensation, professional liability insurance, commercial auto insurance and data breach insurance. You can add these coverages on to your BOP as additional protection. You may be required to have certain types of insurance coverage depending on where your business is located, so be sure to check with your local laws.
No matter what type of business you own, BOP Insurance can be expertly tailored to your business. Our Hartford representatives will walk you through the whole process of selecting the coverages that are right for you. Although we’re one of many insurance companies that offer BOP policies, we’re confident that we have the coverage that’s right for you. Get a BOP Insurance quote today.
If you rent or own workspace or have client contracts that require general liability insurance, you’ll likely need a Business Owner’s Policy (BOP). A BOP can help your business if:
The average annual cost our customers paid for a BOP was $1,019, or about $85 a month. 1 Remember, every small business is unique and has different needs. So, insurance rates will vary. The best way to find out how much a BOP insurance will cost for your business is to get a quote.
Workers can accidentally injure customers or cause property damage. With this policy, you'll have protection for them and your business.
If a customer slips and falls at your store, this can help pay their medical expenses and your legal costs.
Your BOP policy can help cover businesses run out of your home, a rented or owned office, store or garage.
Digital property, equipment, furniture, cash and inventory are all difficult to repair or replace without the right insurance.
If someone steals or loses personally identifiable information, this can help pay expenses like notifying impacted clients and public relations.
To learn more: © 2023 The HartfordPurchasing a BOP Policy is smart and convenient. It simplifies coverage needs by including business property insurance and business liability insurance. These are two important coverages combined into one.
Our Business Owner’s Policy (BOP) offers businesses a way to save money while getting broad coverage for things like:
Our BOP policy is a more affordable option than buying separate business property and liability policies. This policy is an even smarter and more convenient choice for business owners because you can add other coverages to it. Businesses with specific needs can tailor their BOP by adding coverages, like:
Business income coverage is included in a Business Owner’s Policy (BOP) with The Hartford. With this coverage, your business income is protected if your business is unable to operate due to a coverage property damage, like fire damage. This coverage can help cover your lost income until your business can make repairs and reopen again. It can also help your business continue to pay your operating expenses, like payroll and monthly bills.
General liability insurance can be purchased as a standalone policy, but most business owners opt for a Business Owner’s Policy (BOP) for more coverage. A BOP combines general liability insurance with commercial property and business income coverage into one convenient policy. With just a general liability insurance policy, you’d only be covered against claims that your business caused property damage, advertising injury or bodily injury to someone. With a BOP, your business would be protected against more risks like fire, theft, wind and lightning and any lost income resulting from a covered loss.
Get more answers to Business Owner’s Policy frequently asked questions.
You can start a business insurance quote for free online today. We’re an insurance company you can count on. We’ve been helping small businesses get the coverage they need for over 200 years. Save time and get your business insurance online today!
“The Hartford is one of the largest small business insurance carriers. Their BOP policies include the right coverages at a great price. They are easy to do business with.”
“I was in the middle of moving my office location and the new landlord requested their name be on my business owner’s policy. I logged into The Hartford and the process was seamless. One of the best websites I have ever experienced.”
“I have been a business owner’s liability policy holder for a number of years. The Hartford has been consistently affordable and has offered excellent service during this time.”
“My interaction with The Hartford website has always been easy, intuitive and quick to use. I appreciate this as a business owner. Thank you!”
1 Premium amounts presented are based on monthly premium paid by The Hartford's Small Business customers between 1/1/22 and 9/14/23 for 12-month policies. Premium is derived from a number of factors specific to your business and may vary.
Additional disclosures below.
© 2024 The Hartford
The Hartford shall not be liable for any damages in connection with the use of any information provided on this page. Please consult with your insurance agent/broker or insurance company to determine specific coverage needs as this information is intended to be educational in nature.
The information contained on this page should not be construed as specific legal, HR, financial, or insurance advice and is not a guarantee of coverage. In the event of a loss or claim, coverage determinations will be subject to the policy language, and any potential claim payment will be determined following a claim investigation.
Certain coverages vary by state and may not be available to all businesses. All Hartford coverages and services described on this page may be offered by one or more of the property and casualty insurance company subsidiaries of The Hartford Financial Services Group, Inc. listed in the Legal Notice.
The Hartford Financial Services Group, Inc., (NYSE: HIG) operates through its subsidiaries under the brand name, The Hartford, and is headquartered in Hartford, CT. For additional details, please read The Hartford’s Legal Notice.
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