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Q.What is a Business Owner's Policy?

A.The business owner's policy (BOP) was designed for small businesses with less than 50 employees and a comparatively low sales volume, e.g. a boutique clothing store or neighborhood stationary store. The BOP provides coverage for property (fire, wind, theft, etc.), liability (injury of someone in your business or by your product), business interruption, and, in some cases, workers' compensation. The components of each BOP are different, so investigate and ensure your policy contains all the components your business requires.

Although BOPs are available for a broad range of businesses, if your business has more than 50 employees, or a very high sales volume, you may not be eligible for a BOP and will have to purchase a package with the same elements at higher limits.

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