Business Owners Policy, commonly called a “BOP” contains many of the insurance coverages needed by most small businesses. There are variations from insurance company to insurance company, but they all have certain common elements. The basic BOP offers business property coverage for both building and contents. The liability insurance protection is for the operation of your business and will generally include both the operation of your business at its established location and the liability from your products and 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.