Why Small Businesses Need a Business Owners Policy (BOP)

There are many different exposures facing business owners today, from standard property to general liability exposures.  It can be difficult for a business owner to discern all the types of coverage needed to be adequately protected.  Plus, it can be expensive.  That is where a Business Owners Policy or BOP insurance comes in. 

A BOP policy, also known as Business Owners Insurance, is a great offering for your business owner clients for a number of reasons.  First, a BOP policy offers your clients convenience by bundling all the basic coverage a business needs into one plan.  A BOP policy includes the most critical commercial insurance coverage, including property and general liability.  Second, by bundling these coverages, the carriers that provide BOP policies can offer lower premiums.  The cost for a BOP policy is much less than getting mono-line general liability and mono-line standard property.  The general liability limits for these policies range from $1,000,000 to $4,000,000, depending on the policy.

There are many carriers that offer BOP policies, including Hartford, Travelers, CNA to name just a few.  You can shop around different carriers to ensure you get the best price for your client.  At Stuckey, we work with all these carriers; you can contact Kyle Dallavis (kyle@stuckey.com) of Stuckey’s Commercial group to learn more.