Purchasing a BOP Policy is smart and convenient. It simplifies coverage needs by including business property insurance and business liability insurance
. These are two important coverages combined into one.
Our Business Owner’s Policy (BOP) offers businesses a way to save money while getting broad coverage for things like:
Loss of income
Our BOP policy is a more affordable option than buying separate business property and liability policies. This policy is an even smarter and more convenient choice for business owners because you can add other coverages to it. Businesses with specific needs can tailor their BOP by adding coverages like:
Business income for off-premises utility services
What Is Covered Under a Business Owner’s Policy?
Your Business Owners Policy (BOP) bundles business property and liability insurance into one, including:
In addition to these, commercial property insurance also helps cover losses of accounts receivable and valuable papers or records.
General liability insurance
, which helps you if you’re sued for causing harm to a person and/or damage to property. It also helps cover the cost of your legal defense. It does this because businesses can be sued even when it’s not clear that they were in the wrong.
Business income insurance
for help replacing lost income if an unexpected event causes a suspension in your business operations due to a covered loss. This insurance acts as business interruption insurance. It includes important monthly benefits to employees, such as payroll and any other financial payments that are due to them. This also includes essential payments, like rent.
There are additional coverages that you can add to your Business Owner’s Policy (BOP) to help tailor coverage to your specific needs. Two popular optional coverages that you can add to your Business Owner’s Policy (BOP) include:
Data breach coverage, which some insurers call cyber liability insurance
, can help pay expenses following a data breach like:
Notifying affected individuals
Engaging credit monitoring services if warranted
This coverage is important if your business handles or stores private customer, patient or employee information. We also provide coverage when you store private data internationally.
Additional coverage options can help:
Replace lost income and pay for extra expenses incurred. This helps keep your business running if you need to close temporarily or slow operations due to a covered data breach.
Protect your business from a data breach that occurred before the BOP policy effective date.
Pay for extortion expenses and ransom payments associated with the threat of a data breach.
Our data breach coverage also includes access to professionals who can help guide you. They’ll teach you how to prevent breaches and how to manage one if it occurs.
some types of businesses may not be eligible for this coverage.
Additional Coverages You Can Add to Your Business Owner’s Policy Insurance
Do You Have Employees?
For businesses with employees, workers’ compensation insurance
is important. This is typically purchased separately from a Business Owner’s Policy (BOP) and is mandatory in most states. The coverage amount you’ll need will depend on the number of employees in your business.
Workers’ comp insurance coverage helps pay an employee or employee’s family for medical costs in the event of a work-related:
Workers’ compensation insurance helps cover your employee’s income if they are out of work due to a covered illness or injury. This is just another option that you can add to your BOP Policy to protect you and your employees from the unexpected.
Does Your Business Own, Rent or Lease Vehicles?
For businesses that use cars and trucks, commercial auto insurance
is another important policy to consider. This policy helps protect your business from financial losses when an employee is found at fault for an auto accident.
BOP Insurance From The Hartford
No matter what type of business you own, BOP Insurance can be expertly tailored to your business. Our Hartford representatives will walk you through the whole process of selecting coverages that are right for you. Although we’re one of many insurance companies that offer BOP policies, we’re confident that we have the coverage that’s right for you. Get a BOP Insurance quote