What Types of Businesses Need BOP Insurance?

May 17, 2024 | Insurance 101, Business Owner Policy (BOP)

This article was originally published June 22, 2021

A business owners policy (also called BOP insurance) includes two important types of coverage in one policy: general liability insurance and commercial property insurance. Also called property & liability insurance, a business owners policy can be easier to manage than having multiple policies.

Business meeting in session

Do I Need Property & Liability Insurance?

Virtually any company that owns property used to run its business (a building, equipment, furniture, etc.) can benefit from having property & liability insurance, as it covers a wide range of potential insurance claims. You should also consider a BOP if you lease space.

The property insurance in a business owners policy can cover:

  • Your building or leased space
  • The contents of your building, including tools, equipment, inventory, and the property of others in your care, custody, or control
  • Business disruption as a result of property damage and related expenses like covering net income and payroll costs

The general liability insurance in a BOP can cover:

  • Damage to customer property
  • Injuries to non-employees
  • Product liability
  • Libel, slander, and copyright infringement

All of that protection is provided in one combined policy.

What Does Property & Liability Insurance Cost?

What you’ll pay for BOP coverage depends on a number of factors. However, it’s easy to get a property & liability insurance quote online. 

At biBERK, we work with you directly—no middleman or broker—so our rates are as much as 20% below other providers. In many cases, you can protect your business with property & liability insurance for as little as $50 per month.

Business Insurance for Property and Customers: Conveniently Available Online

If you need business insurance for property and customers, you’ll be happy to know that you can buy a BOP online from biBERK. Then, if you ever have a claim, you can file it online as well. It’s all part of our mission to take the hassles out of insurance so small business owners can focus on running their businesses. And, of course, if you need to talk with a licensed insurance expert, our team is always happy to assist you.

BOP Insurance Frequently Asked Questions

Some of the questions business owners frequently ask about BOP insurance include:

How are BOP insurance and general liability insurance different?

A BOP includes general liability coverage but also provides commercial property protection.

Does biBERK offer business owners policies in my state?

We provide BOP coverage and other policies in many locations. Check out our coverage maps.

Why biBERK for small business insurance?

We're part of Warren Buffett's Berkshire Hathaway Insurance Group with millions of satisfied customers, more than 75 years of insurance experience, and $38 billion in paid claims in 2020. And, we focus exclusively on small business insurance, so we can help you determine how best to protect your company.