New York Business Owners Package (BOP)

A Business Owners Package (BOP) is a comprehensive insurance policy that combines various types of coverage into a single package, designed specifically for small to mid-sized businesses. A BOP typically includes essential insurance coverage that protect against a wide range of risks faced by businesses.

A BOP is ideal for small and medium-sized businesses across various industries, including retail, restaurants, offices, and service-based companies, that want comprehensive coverage in a single package.

A BOP typically includes coverage for property damage, business interruption, and liability protection against claims of bodily injury, property damage, and personal or advertising injury.

A BOP combines multiple types of coverage into one policy, often at a lower premium than purchasing separate policies. It simplifies the insurance process and ensures comprehensive protection for small businesses.

The cost of a BOP varies based on factors such as the size and type of business, location, coverage limits, and additional optional coverage. On average, a BOP can be more cost-effective than separate policies.

Yes, many insurers offer customizable BOPs, allowing you to add optional coverage like professional liability, cyber liability, and equipment breakdown to meet the specific needs of your business.

Eligibility for a BOP typically depends on the size of the business, the industry, and the level of risk involved. Most small to medium-sized businesses in low to moderate risk industries are eligible for a BOP.

No, a BOP does not include workers’ compensation insurance. Workers’ comp must be purchased separately to cover employee injuries and illnesses related to work.

A BOP offers comprehensive coverage, cost savings, and convenience by bundling essential coverage into one policy. It also simplifies the management of your business insurance.

To get a BOP, contact an insurance agent or broker who specializes in business insurance. They can assess your business needs, provide quotes, and help you choose the right coverage.