A business owner’s policy, or BOP, provides general liability and property insurance for your business. It's usually cheaper than purchasing separate policies. Your Gray Insurance Group, Inc. agent can help you determine whether a BOP can adequately cover your risks. 
Here’s more information on the protections offered by a business owner's policy.
Is Your Business Eligible For A BOP?
Not every business qualifies for a business owner’s policy. Companies with low industry risk, under 100 employees, a small commercial footprint and less than $1 million in revenue often make ideal candidates for a business owner's policy. Talk to your Gray Insurance Group, Inc. agent to find out if extenuating circumstances might make you eligible or ineligible. The larger your company in value and footprint, the less likely you are to qualify for a BOP.
What Protections Does A Business Owner's Policy Offer?
Every policy is unique. Most BOPs cover small businesses, home businesses and freelancers.
Types Of BOP Protection
- Liability Protection handles bodily injury and property damage expenses in a business-related incident. For example, a customer might fall due to a defect in your flooring and decide to sue you. Some clients may ask for proof of liability insurance before hiring you.
- Personal/Advertising Injury Protection can protect you if your promotional materials expose you to claims of reputation damage or copyright infringement by another. This protection safeguards small businesses against accusations for defamation of character.
- Business Property Protection covers property and inventory from such threats as fire, theft or vandalism.
Business Owner’s Policy Cost Factors
A BOP is often one of the most affordable types of business insurance. Many small businesses and sole proprietorships rely on BOPs for affordable coverage.
There are several factors impacting what your policy would cost:
- Industry and risk
- Location
- Value of business property
- Coverage limits desired
- Number of employees
- Equipment you want to insure
You have a great deal of flexibility in setting up your policy. Talk to your Gray Insurance Group, Inc. agent to ensure that you aren't leaving anything out of your coverage wish list before making a final decision.
Customize Your BOP
One of the biggest perks of a business owner's policy is the amount of flexibility it offers. Typically, you can add endorsements for specific risks, including:
- Cyber liability insurance
- Business interruption insurance
- Liquor liability insurance
- Errors & Omissions insurance
- Coverage for special machinery or equipment
Talk to your Gray Insurance Group, Inc. agent to personalize your BOP and walk away feeling confident that your business is adequately protected.