Business Owners Policies, commonly referred to as “BOP” contains many of the insurance coverages needed by most small businesses. While these policies are not standard, there is great variation from insurance company to insurance company; there are certain common elements. The basic BOP offers business property insurance for both the building and contents, and liability insurance protection for the operation of your business. The liability protection will generally include both the operation of your business, at its established location, and the liability from your products or completed operations.

Some, but not all of the policies, will also offer business income and extra expense protection after an insured loss. BOP policies do not contain all of the coverages needed by a small business. Notably they do not cover any workers’ compensation, professional liability, or business vehicle coverage.