Liability and property protection for your business
Business owners insurance, also known as BOP insurance, is a policy that combines both property and liability coverage into one package. It's popular among a variety of small and medium-sized businesses, such as restaurants, wholesalers, retail stores, and contractors.
Learn more about BOP coverage and discover how Progressive Commercial experts can connect you with the right insurance today.
What is BOP insurance?
BOP coverage
A business owners policy has two primary coverages:
Liability
The liability coverages on a BOP are the same as those on a general liability policy. They protect against customer injury, property damage, advertising injury, and product-related claims. This policy doesn't cover your employees, so you'll need a separate workers' compensation policy.
Property
Property coverage protects commercial buildings and business personal property. It can also cover debris removal, loss of income, and pollution cleanup.
A BOP policy has certain exclusions that you should be aware of. If you need protection for something that isn't covered, endorsements might be available to extend coverage.
For example, damage from earthquakes is typically excluded from a BOP. If you live in an area prone to earthquakes, you might consider adding an endorsement to your policy to increase coverage. Ask about endorsement options when getting your quote.
Who needs a business owners policy?
Small to medium-sized businesses that own or rent workspace should consider a BOP, which includes liability and commercial property insurance. Together, this combination protects your business from accidents, lawsuits, theft, and more.
Contractors, wholesalers, offices, restaurants, and retailers are some examples of businesses that could benefit from a BOP.
What does a business owners policy cover?
A business owners policy covers liability and commercial property claims. Liability coverage includes customer injury, damage to other people's property, and advertising injury. Commercial property insurance protects your commercial building and its contents.
A BOP also provides business interruption coverage to help you recover from financial losses that result from unexpected disruptions to your business operations.
What's the difference between a business owners policy and general liability coverage?
A business owners policy combines general liability and property insurance into one easy-to-manage policy. General liability protects your business from third-party liability claims, including bodily injury, property damage, and personal injury. There's no need for an additional general liability insurance policy if you have a BOP.
What is business personal property?
Business personal property is moveable property that your business owns and uses, such as furniture, machinery, inventory, and electronics. It's covered by a business owners policy.
Does a business owners policy cover rented business property?
BOPs typically provide coverage for leased or rented buildings. You can increase this coverage to include a variety of perils. Learn more about business renters insurance.
Is it possible to add coverage to a business owners policy?
Can a business owners policy help pay for damage from natural disasters?
In many cases, yes. Commercial property coverage through a BOP typically covers many natural disasters, including hail, lightning, wind, hurricanes, and tornadoes. However, a BOP often excludes other disasters, like earthquakes and floods.
Your coverage can vary based on specific policy terms, endorsements, or other modifications. Learn more about how property coverage on a BOP can protect you from various business hazards.
Can Progressive Commercial help me get a business owners policy in my state?
In most cases, yes. Progressive Commercial can help you get business insurance in all states except Hawaii, and we offer business owners policies in most states. Browse by state to see what's available to you.
How do I file a Progressive Commercial BOP claim?
Before you file a BOP claim, you should confirm who underwrites your insurance policy. This information is in your policy documents.
Customers with a BOP underwritten by Progressive Commercial can submit a claim by calling 1-855-737-4257. If another carrier in our network underwrites your BOP insurance, contact them directly using the number listed on your policy.
