A business owners policy (BOP) is several insurance policies your insurance company combines and offers at a discount. A BOP typically includes general liability insurance, property insurance and business interruption insurance.  

Since the insurer designs the BOP, they also set the criteria for qualifying to purchase a BOP. Not every small and medium-sized business may be eligible to purchase this insurance package.  

Contact The Insurancenter in Joplin, Missouri, to get help determining whether a BOP is a good fit for your organization.  

What Is Included With a BOP? 

A business owners policy (BOP) typically provides three essential insurance policies:  

• Property insurance helps cover the costs of replacing or repairing company property after a covered incident. 
• General liability insurance helps cover a company’s legal liability after accidental third-party property damage or injury.
• Business interruption insurance helps cover regular bills such as rent and payroll if a company must temporarily close to allow for repairs after a covered event. 

Tailoring Your BOP 

Your agent can help you tailor your BOP by adding endorsements or other insurance policies to help mitigate additional risks.  

Depending on your industry and the size of your operation, your agent may recommend:  

• Employee practices liability
• Business vehicle insurance
• Cyber liability and cyber risk insurance
• Flood insurance
• Equipment breakdown insurance
• Employment practices liability insurance
• Workers’ Compensation Insurance 

Workers’ compensation insurance is not automatically included with a BOP. Depending on your state’s laws, you may be required to purchase this policy.  

In Missouri, businesses with five or more employees are required to carry workers’ compensation insurance. Companies in the construction industry with one or more employees must also have this coverage. State laws are subject to change. Please check with The Insurancenter to verify what workers’ compensations laws in Missouri may entail for the most up-to-date information. 

Umbrella Insurance 

Your agent may also recommend that you purchase umbrella insurance. This policy goes into effect when a liability claim exceeds the limits of your other business liability policies.  

How To Qualify for a BOP 

BOPs generally work best for small and medium-sized businesses in low-risk industries. Insurance companies set the criteria to qualify for a BOP. Your agent can help you understand whether this coverage may be appropriate for your organization.   

Learn More About BOPs 

Contact The Insurancenter today to learn about qualifying for a BOP and tailoring your coverage to meet the insurance needs of your business.