Business Owners Policy (BOP) Cost
Frequently Asked Questions
How much does a BOP cost?
A Business Owners Policy costs $500-$2,500/year, making it significantly cheaper than buying each coverage separately. Low-risk businesses (offices, consultants): $500-$1,000/yr. Medium-risk businesses (retail, restaurants): $1,000-$2,000/yr. The BOP bundle discount saves 15-30% vs individual policies.
What does a BOP include?
A BOP bundles three essential coverages: General Liability (third-party injuries and property damage), Commercial Property (your building, equipment, inventory), and Business Interruption (lost income during closures). Many BOPs also include: equipment breakdown, data breach liability, and accounts receivable coverage.
Who qualifies for a BOP?
BOPs are designed for small to medium businesses. Typical requirements: fewer than 100 employees, less than $5 million in annual revenue, located at a business premises, and in an eligible industry. Most retail stores, offices, restaurants, and service businesses qualify. Large businesses and high-risk industries may not.
Is a BOP better than separate policies?
For most small businesses, yes. A BOP costs 15-30% less than buying general liability and commercial property separately, provides convenient single-policy management, and often includes bonus coverages. However, businesses with unique risks may need customized separate policies.
Do I need additional insurance beyond a BOP?
Likely yes. A BOP provides essential coverage but does not include: workers' compensation (required if you have employees), professional liability/E&O, commercial auto, cyber insurance, or umbrella liability. Most small businesses need a BOP plus 1-3 additional policies depending on their operations.