Businessowners Policy (BOP) — a package policy that provides both property and liability coverage for eligible small businesses. BOPs are written on special coverage forms that are generally very similar to their monoline property and liability form counterparts, but they typically have some unique features that make them especially advantageous for businesses that qualify. Both the American Association of Insurance Services (AAIS) and the Insurance Services Office, Inc. (ISO), offer BOP programs for use by their member insurers. Also, many insurers have their own BOP programs.
Think of this as buying a combo meal vs ala-cart. A BOP would be a value meal, meaning different things packaged into 1 purchase. If you are not able to secure a BOP, you will set the insurance up ala-cart. This means A policy # for the general liability. A different policy # for the workers comp and so on.
BOPs can be convenient, but you need to review the details of each BOP. Review the coverages, deductibles, settlement options and premium.Client's Choice Insurance’s experts can go over your business model and let you know about all the different business insurance plans and how each kind works for you best. There are many types of business insurance programs that can cover you no matter what type of business you are in. Here are some of the most popular business insurance programs.
- Business Crime Insurance
- Business Interruption Insurance
- Commercial Auto Insurance
- Liability Insurance
- Property Insurance
- Umbrella Insurance Coverage
- Workers Compensation
If you don’t see something that fits your business model, call (719) 574-0018 today for a custom business insurance plan that fits your business or: