BOP (or a Business Owners Package Policy) is bundled insurance. This is a perfect option for small business owners because it gives you the most competitive insurance plan at the best price. It also helps you make sure your company is fully covered in the areas it needs to be, without carrying unnecessary coverage options. Let Crossroads Insurance help connect your small business to a BOP policy and see how much we can help you save.
What does a business owners package include?
BOP provides your company with a number of key coverage option. Most often, this includes:
- Commercial General Liability Insurance coverage (property damage or bodily injury claims)
- Property Insurance (physical assets claims)
- Income Loss Insurance (employee salaries and loss of rents, as well as loss of income)
Is BOP available to all businesses?
Typically, BOP policies are for smaller business. We define a small business as companies with less than 100 employees and generate less than $5 million in annual sales. Here are a few examples of businesses that could benefit from BOP insurance.
- Small retail stores
- Coffee shops, local restaurants, and caterers
- Independent doctors and dentists
- Automotive repair shops
- Pet Groomers
Why wouldn’t my business qualify for BOP?
BOP can help you save a substantial amount in premiums because of how it is packaged. However, it typically isn’t a good fit for companies that are classified as higher liability risks because the coverage amounts simply aren’t enough. That means if you’re involved in highly specialized or high-risk operations, have a large facility or space, or need business interruption coverage to last longer than 12 months, you’ll be better off checking out individual options and building a customized plan.
Are all BOP policies the same?
No! That’s why you should choose to work with an independent agent like Crossroads Insurance. We use our network of top-rated insurance carriers to bring you quotes and coverage options on the best BOP plan for your business.