A business owner's policy (also businessowner's policy, business owners policy or BOP) is a special type of commercial insurance designed for small and medium-sized businesses.[1] BOPs are cost-effective and convenient for business owners, as they provide comprehensive protection against common risks like property damage, lawsuits, and income loss due to unforeseen events. By bundling general liability insurance and property insurance into a single policy, BOPs typically offer a reduced premium, often making them a more cost-effective option than separately purchased policies.[2]
Specific coverage included in a business owner's policy varies among insurance providers, but most policies require that businesses meet eligibility criteria to qualify.