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Business Owners Policy (BOP)
Insurance Coverage for Eligible Small Businesses — combining general liability and business property coverage into one streamlined policy.
Who May Need a Business Owners Policy?
A BOP may be a fit for many eligible small businesses. Eligibility depends on the business type, revenue, location, property values, loss history, operations, and underwriting guidelines.
Retail & Shops
  • Retail businesses
  • Small shops and studios
  • Wholesalers and distributors
Professional Services
  • Professional service firms
  • Consultants
  • Small offices
  • Technology businesses
Property & Real Estate
  • Property management companies
  • Real estate service businesses
  • Home based businesses
Specialty & Other
  • Ecommerce businesses
  • Small contractors
  • Medical offices
  • Personal service businesses
What a Business Owners Policy May Include
A BOP can bring together several important coverage types under one policy, with additional options depending on the carrier and business type.
General Liability
Helps protect against claims involving bodily injury, property damage, personal injury, and advertising injury. Often required by landlords, vendors, and contracts.
Business Property
Helps protect equipment, furniture, inventory, computers, tools, supplies, and tenant improvements from certain covered losses.
Business Income
May help replace lost income after a covered property loss disrupts normal business operations due to fire, storm, theft, or other covered events.
Extra Expense
May help pay additional costs needed to keep the business operating or reduce downtime after a covered property loss.
Products & Completed Operations
May include coverage for certain claims related to products sold or work completed, depending on business and policy terms.
Equipment Breakdown
May help address certain mechanical, electrical, or pressure system breakdowns depending on the carrier and policy terms.
Hired & Non-Owned Auto
Some BOPs offer liability coverage for certain business use of vehicles the business does not own, such as rented or employee-owned vehicles.
Cyber Liability Options
Some carriers offer cyber endorsements or separate policies to help address data breach, ransomware, business email compromise, and other cyber risks.
Why a BOP Can Be Useful
A Business Owners Policy offers several practical advantages for eligible small businesses looking to manage their insurance efficiently.
Simplified Coverage
A BOP packages key coverage types into one policy, making it easier for eligible small businesses to manage their insurance program.
Contract & Lease Requirements
Landlords, vendors, customers, and business partners may require proof of general liability and property coverage before doing business.
Protection for Business Assets
Many small businesses rely on equipment, inventory, furniture, computers, and supplies that would be costly to replace after a covered loss.
Business Interruption Support
Business income coverage may help protect revenue if a covered property loss forces the business to temporarily close or relocate.
Customization Options
A BOP may be customized with endorsements or additional policies depending on the business operations and carrier appetite.
Common BOP Insurance Challenges
Understanding potential gaps and limitations helps ensure your business has the right coverage in place.
Eligibility
Not every business qualifies for a BOP. Some businesses may need a commercial package policy, specialty policy, or separate coverage based on risk type.
Property Values
Business property values should be reviewed carefully. Underestimating equipment, inventory, improvements, or property values can create coverage gaps.
Business Location
Businesses operating from a leased space, home office, warehouse, storefront, or multiple locations may need different coverage considerations.
Business Activities
Operations such as manufacturing, contracting, product sales, professional services, delivery, or high-risk activities may affect eligibility and coverage.
Home Based Businesses
A homeowners policy may not properly cover business property or business liability. A BOP or other business policy may be needed for adequate protection.
Cyber & Professional Exposure
A BOP may not fully address cyber liability or professional liability needs. Separate policies or endorsements may be needed to fill these gaps.
Information Helpful for a Quote Review
To review BOP options, gathering the following information in advance helps ensure a thorough and accurate coverage evaluation.
01
Business Basics
Business name, address, and description of operations
02
Business History
Years in business, annual revenue, payroll estimate, and number of employees
03
Property & Asset Values
Property values, inventory values, and equipment values
04
Lease & Contract Requirements
Lease insurance requirements and any contract insurance requirements if applicable
05
Current Coverage & Loss History
Current insurance policy and prior loss history if available
Related Coverages
Depending on your business operations, additional or alternative coverage types may be needed alongside or instead of a BOP. Foray Insurance Group LLC can help evaluate the right combination of policies for your business.
Commercial Property
Commercial General Liability
Professional Liability
Cyber Liability
Workers Compensation
Commercial Auto
Commercial Umbrella
Product Liability
Home Based Business Insurance
Ready to Review Your Insurance Options?
Whether you own rental property, manage a business, serve clients as a referral partner, or need personal insurance guidance, Foray Insurance Group is ready to help.
Contact Information
Foray Insurance Group LLC
Independent Insurance Agency
Foray Insurance Group LLC
Independent Insurance Agency
Illinois
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Foray Insurance Group LLC is an independent insurance agency. Insurance products are subject to carrier availability, underwriting approval, policy terms, conditions, and exclusions.