Business Owners Policy

Business Owners Policy Coverages

Primary Business Owners Insurance Coverages

Building/Property Coverage

Covers damages to your building, other structures, and business personal property (e.g., stock, inventory, furniture, and office equipment).

Business Interruption Coverage

Provides protection for temporary shutdowns due to covered losses, covering loss of income or extra expenses incurred to resume operations.

General Liability Coverage

Protects your operations and premises, including:

• Bodily Injury, Property Damage, and Medical Expenses
• Products – Completed Operations
• Personal Injury and Advertising Injury
• Damage to Premises Rented to You

Additional Coverages

Accounts Receivable

Pays for amounts due from customers when records are damaged or destroyed by a covered loss.

Arson Reward

Provides a reward for information leading to an arson conviction.

Automatic Seasonal Increase

Increases business personal property coverage by 25% during peak inventory periods.

Depositors Forgery

Covers losses due to forgery or alteration of outgoing checks, drafts, or promissory notes.

Employee Dishonesty

Reimburses losses caused by dishonest acts of employees.

Money & Securities

Covers loss of money and securities due to theft, disappearance, or destruction in various locations (e.g., bank, residence, business location, in transit).

Newly Acquired or Constructed Property

Extends coverage to newly constructed or acquired buildings.

Outdoor Property

Covers outdoor fences, radio/TV antennas, satellite dishes, signs, trees, shrubs, and plants, including debris removal expense caused by a covered loss.

Personal Property Off-Premises

Extends coverage to business personal property in transit or at non-owned, leased, or operated premises.

Attached Signs

Includes coverage for signs attached to your building as part of the building insurance.

Valuable Papers & Records

Protects valuable records and papers, including costs to research lost information for which duplicates do not exist.

FAQs

• What is a Business Owners Policy (BOP)?

  A Business Owners Policy combines various types of coverage, such as property, liability, and business interruption, into one affordable package tailored for small to medium-sized businesses.

• What does a BOP cover?

  A BOP typically covers property damage, business interruption, and general liability. Additional coverages, such as accounts receivable, arson reward, and employee dishonesty, can also be included.

• What is not covered under a BOP?

  A BOP generally does not cover workers’ compensation, auto insurance, and flood insurance. These must be purchased separately.

• Can I customize my BOP?

  Yes, you can add optional coverages to tailor the BOP to your specific business needs.

• How does Business Interruption coverage work?

  Business Interruption coverage compensates for lost income and extra expenses incurred to resume operations after a covered event forces a temporary shutdown of your business.

• What is the advantage of a BOP over separate policies?

  A BOP simplifies the insurance process by combining essential coverages into one policy, often at a lower cost than purchasing separate policies.

• How do I determine the right coverage for my business?

  Consult with an insurance agent to assess your business risks and determine the appropriate coverage options for your BOP. You can search for an agent in our Find an Agent tool located on the right side of the screen.

• How can I get a quote for a BOP?

  You can get a quote by contacting a Bankers Insurance Group agent. Use our Find an Agent tool located on the right side of the screen to locate an agent near you.