Business Owners Policy: BOP Insurance Quotes & Guide

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Every business owner has to take care of all aspects of his or her business. One of these sides are being able to protect from financial loss that is due to reasons beyond the control of the business itself. This is what Business Owners Policy, or BOP insurance, is all about. A comprehensive protection for business from all sort of unexpected events that may cause financial loss to a business.

Small businesses should have insurance or protection, as much of it as larger businesses and corporations. While such policies can appear to be needless expenditures when all is well, when something unexpected happens that disrupt your business operation, they profit you.

Given business expenses and the benefits of having a good  business insurance, it is important to identify the kind of business you operate and where it fits.  But first, let's define what a BusinessOwners Policy is.


A Business Owners Policy is one insurance policy that combines basic essential coverages for every significant property and liability risks businesses face. 

It incorporates the essential protections a business owner requires altogether. It is usually offered, at a better cost than the actual cost of each plan if it is bought separately.

Business owners policy, also referred to as BOP insurance, normally covers business owners from commercial property damage, peril, liability and business interruption. 

BOP insurance policy coverages can mostly include further coverage if required by the business, from things like: fraud, crime, supply damage, fidelity and more.

If a business matches with specific eligibility qualifications, it can qualify for special considerations.


The following coverages are included within a BOP (Business Owners) Policy:

BOP Property: Commercial Property Insurance (CP)  

Commercial property insurance coverage is included in every BOP policy. BOP property protects buildings and contents owned by the business. It comes in two different forms, standard and special, with the least providing a more comprehensive coverage.

Read more about commercial property insurance.

Employment Practices Liability Insurance (EPL)  

Employment Practices liability is a U.S. law that handles injustice in business in events of unjustified contract termination, sexual harassment, invasion of privacy, emotional abuse, wrongful imprisonment and salary and overtime working hours that are in violation of the law.  Employment Practices Liability Insurance can be easily added to a Business Owner's Policy and is increasingly included in BOP policies in current times. 

Business Interruption Insurance (BI)

Business Interruption Insurance is a coverage that's built-in in every BOP policy. 

Business Interruption Insurance covers and compensates for the loss of income that a business suffers due to a defined business interruption event, fire or disaster.

Not having business interruption insurance can result in having to shut down a business.

BOP Liability Coverage: Commercial General Liability Insurance (GL)

Business Owners Liability Insurance Coverage: Many business insurance companies also launch their insurance voyage via general liability. It provides protection for lawsuits relating to personal injury and even property harm charges made by third parties. If a person visits your business and is hurt on the grounds, they could file a lawsuit on you hospital bills for anything other than the harm for the damage they find sufficient. A proper business owners liability insurance covers your business for any damage and financial loss related to such incidents.


A BOP program features several more services and upgrades without additional charge aside from the above necessary coverage.


Security insurance, car, and flood protection may also be included in the BOP policy. The corporate holder and the insurance provider will negotiate for different coverage elements, based on a specific business context. Many offences, wastage of products, IT machines, mechanical damage, falsification and allegiance bonds may be many of these; however, the liability levels for these additions are usually limited.

Many policies are underwritten on ordinary Insurance Services Office (ISO)  forms,  while others are issued on proprietary  forms . The vast majority of proprietary business owners policies are variations of the standard ISO BOP policy. The  ISO BOP policy is a special package providing wide property and liability coverage in one contract. You can read more about it here.


Every small company, whether it is online or a physical business, shop, workplace, or warehouse, would be in danger of financial loss in the event of being held accountable for personal injuries or property damage. 

While not all businesses own the property in which they operate, all businesses do have private possessions, like furniture, design items, appliances, computers and supplies. 

The benefit of a BOP policy in comparison to having multiple other policies separately is that the entire package includes and covers all important business owners policy coverages and all policies that are vital for a business to have covered. 

Business Owners Policy Eligibility

Before accepting you for a business owners insurance policy, insurance companies measure the risk your business carries, and whether it is eligible for BOP insurance depending on its location (or multiple locations), the location size, business type, revenue and industry. 

Applying for business owners policy insurance is easy through this page, but keep in mind that not every business is qualified. The criteria vary between insurance providers. 

BOP insurance policies are normally sold to small-medium businesses in risk-free markets, since larger businesses normally carry more complex risk that demands customization. 


BOP liability coverage varies; however, the conditions below are used by most mainstream insurance providers:

Size of the primary location.  Business Owner's Policy covers businesses that are not in large structures, such as factories and distribution facilities.

Annual Revenue. Companies may only apply for business owners policy insurance if they do not exceed annual revenues of $5 million USD.

Number of employees. Businesses with under 50 employees may be able to get BOP insurance; if a company has more employees than that, they may not be able to qualify for it. The fewer workers a business has, the higher its chances are to qualify for BOP insurance coverage.


Once you get a business owners insurance quote, you might want to compare that to the average  BOP insurance cost.

A business owners policy insurance cost may differ depending on the insured business risk management considerations and required coverage amounts and deductibles by the business itself. 

In general, business owner insurance cost could vary from $500 to $3,500 U.S. Dollars per year; the average business owners policy cost is approximately $1,200. 

Business owners policy cost varies due to the following factors:

Nature of Business

The kind of business you run and its industry affects its BOP insurance rates. A good example is damage to a business that has equipment, supplies and appliances that workers use is more significant and expensive to cover compared to simple IT or home based businesses of either freelancers or just office employees. The greater the risk involved with a business, the greater is its BOP insurance cost. 

Claims History  

If your business have had no claims in the past and have a good history, it will be easier for it to get cheap BOP insurance quotes.

Coverage Restrictions  

The scope of the coverage you choose for your business significantly impacts your Business Owner's Policy cost. A simple office (or home office) with $3,000 maximum repair cost possible to any damage that may be caused to it is a significantly lower risk (and cost) to insurers compared to a commercial facility that requires over $1M to renovate or repair its property damage. 

Additionally, your BOP insurance liability limits choices affects your BOP insurance cost. The typical liability limit for most BOP insurance policies is $1M; however, if you believe your business requires more than that, your insurer will allow that, but it will affect the rates you pay for your BOP.


There are plenty of firms in the insurance industry, and the majority of them have their business owner policy. The costs and scope of each of these factors are substantially unique. Even though most of them are subject to normal GL, CP, and BI, they may also excel in their field. You can have lower deals compared to the one that doesn't provide that expertise; only if they are experienced in your form of market.


Business Owner's Policy premium rates are determined based on business size as well. Your number of employees will affect some coverage sections of the business owners policy. Also, the more employees a business have, the more it is exposed to risk and potential lawsuits as well.


A deductible  is the total a business pays out of its own pocket before the insurance policy kicks in to cover loss. The higher your deductibles are, the cheaper your business owners policy insurance quotes will be. Insurance companies will lower your BOP insurance premium rates as you share more of their risk and carry a more significant proportion of your setback. Always remember that you will be required to actually pay this price before you are able to file a claim and activate your BOP insurance policy for the insurance carrier to reimburse the rest of your business financial loss. 


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In order to find the best insurance for business owners, then you have to compare business owners insurance quotes first and try them out. Since the quality of your BOP insurance coverage plays a vital role in your business operation, it is as essential to find the best insurance companies for business owners who actually know the kind of business you operate.  

This can vary. For example, a business insurance company that specializes in ships of large machinery might not be the ideal option for a lawyer or a home based freelancing business. Fortunately, you can find a wide range of companies for any business. 

While we review several options below, there are more quality options and we do encourage you to compare business owners insurance quotes by clicking the get quotes button at the top of this page in order to find the best BOP insurance prices, policy deals, discounts and coverage from the best and most reliable BOP insurance companies for any type of business.


Hiscox insurance will be helpful for your business whether you are a freelancer, the developer of a rapidly developing technology company or a business owner in a difficult to cover sector.  Hiscox provides  small business insurance  for a wide variety of businesses, sectors and industries.

To get a cheap Hiscox BOP insurance quote, visit Hiscox.


- Hiscox Business Owners Policy can be quoted and bought online, either directly or through a broker/agent if you prefer

- Its BOP insurance can be customized for a variety of sectors

- Global coverage: the claims have to be filed in US/Canada though

- In contrast to other major insurers, Hiscox is much more straightforward in both claims process and payments with 24/7 online claim filing available for their customers

- Licensed to sell insurance in all 50 states


- Less ideal for larger businesses

- The company is not U.S. based

- Some of their offers are completed through their partners 

BEST FOR:  Contractors, fitness business, home business, IT businesses and generally all small business owners who seek extensive BOP coverage tailored to their industry

AVERAGE COST:  BOP insurance cost varies depending on business sector, size and coverage limits, however, an IT business in California with $35,000 equipment insured, $500 property deductible and a general liability per occurrence limit of $1M will pay $42 per month or $500 per year.


If you're thinking of getting a bop insurance quote through Chubb, you are in a good direction. Chubb is among the leading casualty and property insurers in the world, issuing different types of insurance policies for both individuals and businesses. 

PROS :  

- Chubb BOP insurance saves you a significant amount compared to purchasing commercial general liability insurance and commercial property insurance policies  separately

- Chubb offers discounts and are quite helpful for start-ups 

- Chubb barely have any customer complaints and excels in customer satisfaction ratings

- 90% of businesses that are their clients renew their policies

- Chubb Business Owners Policy is provided to all business sizes

- Excellent claim experience

- Chubb BOP insurance is one of the most comprehensive business insurance coverages available in the market, this makes sure your business is never left uncovered while you think it is

- Available online


- Online option is less friendly than that of other providers, makes getting business owners insurance quote from Chubb less friendly

BEST FOR:  International businesses of any size 

AVERAGE COST:  Chubb BOP insurance cost varies like others, but you can expect it to range from $400 to $4,000 and more, depending on different factors that affect BOP insurance rates.

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For small businesses that require BOPs, The Hartford is another excellent business insurance company. 


- The Hartford is known to be the world's most flexible BOP provider for a variety of industries

- BOP claims could be made 24 hours a day and 7 days a week 

- Easy online BOP insurance quoting process makes getting business owners policy quote from The Hartford very simple

- Provides up to $2 million coverage for every general liability business insurance claim (which is included in their BOP) and $4 million for the business owner policy aggregate

- Strong financially

- More than 200 years of experience


- Not the cheapest option

- Not available in every state

BEST FOR:  Startups

AVERAGE COST: The Hartford's BOP insurance cost varies, depending on all factors mentioned in this page. However, The Hartford's median cost of small business insurance is $618 per year, its average small business insurance cost is $1,172 per year, ranging from $559 per year for small tech business insurance to $3,330 per year for restaurant insurance.

Once again, we highly advise you to compare cheap business owners insurance quotes through the top of this page in order to find the best, cheapest business owners policy coverage from the most trusted companies. Start now.


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