BusinessOwners Policy (BOP)

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Business Owners Policy BOP

As the owner of a small or medium-sized business, you want to concentrate on growing your business. What you don’t want to worry about is, insurance.

For many main street type businesses, Hayes Brokers has one insurance policy to cover your two main concerns: property and liability. It is called a Business Owners Package (BOP) and it includes the property (hazard) and liability (casualty) that you know you need, plus a few extras that you may not know you need until it’s too late.

When you purchase most or all of your insurance coverage through one insurance company, you often get discounts. A BOP combines two of your main policies at a lower price than two separate policies. This means there are fewer policies to worry about, and only one premium payment to make.

Some advantages of BOPS are:

2021 Brochure

Boat Insurance

Business Owner Policy Options

Some BOP policies include coverage that is more broad in scope or not as readily available on a monoline policy. These may include: 

  • Business Income & Extra Expense: Actual Loss Sustained (instead of a stated limit)
  • Equipment Breakdown
  • Ordinance or Law
  • Property Under Your Care, Custody and Control
  • Employee Benefits Liability
  • Hired & Non-Owned
  • Auto Liability
  • Blanket Additional Insured
  • Blanket Waiver of Subrogation
  • Built In Umbrella Coverage

Some insurance companies even have special BOP packages for certain types of business such as pool contractors or beauty salons. These policies include coverage specific to the business being insured.

BOPs Don’t Cover Everything

Unfortunately, BOP policies are not all-inclusive. You will still need policies for Commercial Auto, Workers Compensation, Professional Liability, Health and Disability, and higher limits Umbrella. You will need separate policies for vehicles, employees and professional services.

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