Business Owner’s Policy (BOP)
Core business protection, brought together in one policy.
Running a business means managing a lot of moving parts. A Business Owner’s Policy, often called a BOP, can combine several important types of protection into one package designed for eligible small and mid-sized businesses.
Based in Albuquerque, Western Assurance Associates serves clients throughout New Mexico, Texas, Colorado, and Arizona. Our team takes the time to understand how your business operates, what you own, and where your biggest exposures may be. As an independent agency, we can help you explore BOP options from the insurance companies we work with and determine whether this type of policy fits your business.
What can a Business Owner’s Policy help protect?
A BOP typically combines business property, liability, and business income coverage into one policy. Exact protection will depend on your business, policy, limits, deductibles, endorsements, and insurer.
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Helps protect covered buildings, equipment, inventory, furniture, and other property your business relies on after a covered loss.
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Helps protect your business from certain claims involving bodily injury, property damage, and other covered liability exposures.
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Depending on the policy, helps with certain additional costs required to keep the business operating or resume operations after a covered loss.
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Helps replace certain lost income and ongoing expenses if a covered loss forces your business to temporarily reduce or stop operations.
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A BOP can often be customized with endorsements or additional protection based on the specific needs of your business.
What is a BOP, exactly?
A Business Owner’s Policy combines several common business coverages into one package rather than purchasing each one separately.
For eligible businesses, that can make coverage easier to manage and may be more cost-effective than buying comparable policies individually.
We’ll help you determine whether a BOP makes sense for your operation.
Does every business qualify for a BOP?
Not necessarily.
Eligibility can depend on factors such as your industry, business size, property, operations, required liability limits, and the amount of work performed away from your location.
If a BOP isn’t the right fit, we can help you explore other commercial insurance options.
Does a BOP cover everything my business needs?
No single policy covers every business risk. Some exposures may require separate coverage or endorsements depending on your operations, vehicles, property, employees, and the services you provide.
For example, business-owned vehicles generally require separate commercial auto coverage.
We’ll look at your business as a whole and help you identify where additional protection may be worth exploring.
One policy.
Multiple layers of protection.
Your business has more than one thing worth protecting.
At Western Assurance Associates, we’ll take the time to understand your property, operations, and liability exposures, then help you explore coverage that brings the right pieces together.