Business owners policies are geared to protect small business in low-risk industries. These policies, also known as BOPs, combine coverages into a flexible policy, meaning you can add coverage as needed depending on your business’ different aspects.

A basic BOP includes two main coverages:

General Liability

General liability insurance covers basic and common claims against the business concerning:

• Bodily Injury: Bodily injury under general liability helps cover expenses if a third party is injured on your business’ property. It can help with the injured party’s medical bills as well as protect your business from a related lawsuit.
• Property Damage: Property damage covers damage to third party property that may occur as a result of the business’ everyday activities.
• Personal and Advertising Injury: Personal and advertising injury covers claims regarding libel, slander, malicious persecution, copyright infringement, theft of an advertising idea and more.

You can add different liability coverages, as well, such as:

• Professional Liability: Professional liability insurance covers professional negligence that may cause a client to lose money. This insurance is also known as Errors and Omissions insurance (E&O insurance) and medical malpractice insurance.
• Umbrella Liability: Umbrella liability insurance fills in the gaps left by your other liability insurance policies. If your general liability policy reaches its limit for a claim, for example, umbrella liability insurance can help cover the remaining expenses.

Commercial Property Insurance

Commercial property insurance covers the physical assets of a business in case of damage or destruction caused by fire, wind, hail, lightning, smoke, explosions, theft, vandalism and more. This insurance can cover the physical location (such as an office building or restaurant) and its contents such as equipment, furniture and decorations.

You can add several types of coverages to your business in order to protect the unique dangers your company faces. This could include:

Additional commercial property coverages may include:

• Commercial Auto Insurance: Commercial auto insurance protects commercial vehicles owned or used by a business for work purposes. This insurance often includes a lot of the same coverage available under a personal auto insurance policy such as comprehensive coverage, collision coverage, liability, medical payments coverage and uninsured/underinsured motorist coverage.
• Business Interruption Insurance: Business interruption insurance provides compensation if the business is unable to operate due to an accident or disaster. This insurance helps compensate for lost income, wage replacement and other losses incurred by an accident that may cause the business to lose money.

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