A Business Owners Policy (BOP) is an insurance package designed specifically for small to medium-sized businesses (SMBs) that combines several types of coverage into one policy. BOPs are typically tailored to meet the needs of specific industries and businesses, providing comprehensive protection at a more affordable premium compared to purchasing individual policies separately. 

1. Property Insurance:

   • Building Coverage: Protects owned or leased buildings and structures from covered perils such as fire, theft, vandalism, and certain natural disasters.

   • Business Personal Property: Covers physical assets owned or used by the business, including equipment, inventory, furniture, and fixtures.

   • Business Interruption Insurance: Reimburses the business for lost income and certain operating expenses if operations are interrupted due to a covered property loss, such as fire or storm damage.

2. Liability Insurance:

   • General Liability Insurance: Covers third-party claims of bodily injury, property damage, and personal injury (such as slander or libel) arising from business operations or products.

   • Products and Completed Operations Liability: Covers claims related to products sold or services performed by the business that cause bodily injury or property damage after they have been transferred to the customer.

3. Additional Coverages:

   • Business Crime Insurance: Protects against financial losses due to crimes such as theft, burglary, employee dishonesty, and forgery.

   • Electronic Data Loss Coverage: Covers costs associated with restoring or recreating electronic data lost or damaged due to covered perils.

   • Equipment Breakdown Coverage: Covers repair or replacement costs for essential business equipment that breaks down due to mechanical or electrical failure.

4. Optional Coverages:

   • Cyber Liability Insurance: Protects against financial losses resulting from data breaches, cyberattacks, and other cyber incidents.

   • Professional Liability (Errors & Omissions): Covers claims arising from professional mistakes or negligence in services provided to clients.

   • Employment Practices Liability: Covers claims related to wrongful employment practices such as discrimination, harassment, and wrongful termination.