Why Your Business Needs a BOP

A sudden setback can threaten even the most prepared businesses. A business owners policy (BOP) is designed to help small and medium-sized businesses face unexpected challenges by combining essential coverage into one streamlined policy.

What Is a BOP?

Standard BOPs typically bundle three key types of coverage, including the following:

• Property insurance may provide coverage for your building, equipment, inventory and other physical assets against risks such as fire, theft or storms.

• General liability insurance may cover claims of third-party bodily injury or property damage that may occur on your premises or as a result of your business operations.

• Business interruption insurance may provide financial support if your business is temporarily forced to close due to a covered event, helping to cover lost income and ongoing expenses.

Why Do Businesses Need a BOP?

Businesses may encounter risks such as property damage or liability concerns. A BOP can address these exposures within one policy. For example, if a business experiences damage to its premises or has a customer incident, a BOP may help manage related costs.

Who Should Get This Policy?

A BOP may be suitable for businesses such as retailers, offices, restaurants and contractors. If you have workspace, valuable assets or regular customer interactions, this policy can be a practical choice.

How Can Businesses Benefit from This Coverage?

Here are a few key benefits a BOP may offer:

• Simplified coverage: Bundling essential coverages may make insurance management easier.

• Cost-effective: A BOP can be more budget-friendly than purchasing separate policies.

• Customizable: Coverage may be tailored with additional options to fit specific business needs.

Get Started Today

Tanenbaum Harber Insurance Group can help you explore BOP coverage options. Contact us to learn more and get a free custom quote.