Business Owner's Policy

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What Is Business Owner’s Policy Insurance?

A Business Owner’s Policy (BOP) combines business property and business liability insurance into one business insurance policy. BOP insurance helps cover your business from claims resulting from things like fire, theft or other covered disasters. Business owner’s insurance also helps cover claims that could arise from your business operations. These include claims of bodily injury or property damage. They also include claims related to personal and advertising injury.

A Policy Customized to Your Business

Businesses can tailor their Business Owner’s Policy (BOP) to help meet their unique needs by adding optional coverages, like:
  • Data breach
  • Business income for off-premises utility services
  • Other specialized policies
A BOP policy can be custom-made to fit industry specific businesses. This means it’s great for businesses of any size, especially small businesses.
BOP insurance for business owners is built to cover companies that generally face the same risks. Customizing your BOP Insurance is an important first step when insuring your business. Small business owners should do this from the beginning to protect against losses and damages early on.

What Is Included in a Business Owner's Policy?

A Business Owner’s Policy (BOP) bundles business property and liability insurance into one policy. This means it can help cover claims of bodily injury and property damage to your building, equipment or inventory.
Some coverages that are included in a BOP are:
Business property insurance helps protect your owned or rented building, tools and the equipment you use to operate.
This helps protect your business and its assets in the event of a lawsuit for things like negligence, bodily injury, property damage, libel and slander.
Business Income Insurance, also known as business interruption coverage, helps replace your lost income if you can’t operate because of covered property damage. This includes damage from a fire, wind or theft.

Additional Coverages You Can Add to Your Business Owner’s Policy Insurance

There are additional coverages that you can add to your Business Owner’s Policy (BOP) to help tailor coverage to your specific needs. Some popular optional coverages that you can add to your Business Owner’s Policy (BOP) include:
Most state laws require you to carry this insurance to help compensate employees for expenses associated with work-related injuries or illnesses like medical bills, rehabilitation and lost wages.
Professional liability insurance helps protect you and your company if you’re found negligent in the professional services you provided to a client, even if you didn’t make a mistake.
Commercial auto insurance helps cover the cost of an auto accident if you or your employee is at fault. If you or your employees drive a vehicle for business reasons, having the right commercial vehicle insurance is important.
Data breach insurance, also known as cyber insurance, helps cover liability expenses from technology-related risks such as a data breach or cyberattack. If you collect, store, send or receive customer information, it’s important to protect against cyber risks.

BOP Insurance From The Hartford

No matter what type of business you own, BOP Insurance can be expertly tailored to your business. Our Hartford representatives will walk you through the whole process of selecting the coverages that are right for you. Although we’re one of many insurance companies that offer BOP policies, we’re confident that we have the coverage that’s right for you. Get a BOP Insurance quote today.

Who Needs a Business Owner’s Policy?

If you rent or own workspace or have client contracts that require general liability insurance, you’ll likely need a Business Owner’s Policy (BOP). A BOP can help your business if:
  • You have a physical location
  • There’s a possibility of you getting sued
  • You have assets that could get stolen or damaged

How Much Does a BOP Cost?

The average annual cost our customers paid for a BOP in 2021 was $3,135, or about $261 a month.1 Remember, every small business is unique and has different needs. So, insurance rates will vary. The best way to find out how much a BOP will cost for your business is to get a quote.

5 Reasons Your Business
Needs a BOP

Insurance for business owners
Business owner's policy insurance will help keep you protected if your company has:
BOP insurance policy
1. Employees:
Workers can accidentally injure customers or cause property damage. With this policy, you'll have protection for them and your business.
BOP Policy
2. Any chance of a lawsuit:
If a customer slips and falls at your store, this can help pay their medical expenses and your legal costs.
What is a business owner's policy?
3. A physical location:
Your BOP policy can help cover businesses run out of your home, a rented or owned office, store or garage.
Business owner's policy insurance
4. Assets that could get stolen or damaged:
Digital property, equipment, furniture, cash and inventory are all difficult to repair or replace without the right insurance.
What is BOP insurance?
5. Private customer data:
If someone steals or loses personally identifiable information, this can help pay expenses like notifying impacted clients and public relations.

To learn more:

What’s the Advantage of a Business Owner’s Policy?

Purchasing a BOP Policy is smart and convenient. It simplifies coverage needs by including business property insurance and business liability insurance. These are two important coverages combined into one.
Our Business Owner’s Policy (BOP) offers businesses a way to save money while getting broad coverage for things like:
  • Fire
  • Theft
  • Lawsuits
  • Loss of income
Our BOP policy is a more affordable option than buying separate business property and liability policies. This policy is an even smarter and more convenient choice for business owners because you can add other coverages to it. Businesses with specific needs can tailor their BOP by adding coverages, like:
  • Business income for off-premises utility services
  • Data breach
  • Professional liability

Looking for a Business Owner’s Policy?

You can start a business insurance quote for free online today. We’re an insurance company you can count on. We’ve been helping small businesses get the coverage they need for over 200 years. Save time and get your business insurance online today!
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Last Updated: June 26, 2023
1 Premium amounts presented are based on monthly premium paid by The Hartford’s Small Business customers between 1/1/21 and 12/31/21 for 12 month policies. Premium is derived from a number of factors specific to your business and may vary.
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The Hartford shall not be liable for any damages in connection with the use of any information provided on this page. Please consult with your insurance agent/broker or insurance company to determine specific coverage needs as this information is intended to be educational in nature.
The information contained on this page should not be construed as specific legal, HR, financial, or insurance advice and is not a guarantee of coverage. In the event of a loss or claim, coverage determinations will be subject to the policy language, and any potential claim payment will be determined following a claim investigation.
Certain coverages vary by state and may not be available to all businesses. All Hartford coverages and services described on this page may be offered by one or more of the property and casualty insurance company subsidiaries of The Hartford Financial Services Group, Inc. listed in the Legal Notice.
The Hartford Financial Services Group, Inc., (NYSE: HIG) operates through its subsidiaries under the brand name, The Hartford, and is headquartered in Hartford, CT. For additional details, please read The Hartford’s Legal Notice.
* Customer reviews are collected and tabulated by The Hartford and not representative of all customers.