A business owner’s package policy, commonly called a “BOP,” contains many of the insurance coverages needed by most small businesses. The basic BOP offers business property for both building and contents, and liability insurance protection for the operation of your business. This liability protection will generally include the operation of your business at its established location, as well as the liability from your products or 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.