Business Owner's Policy

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What Is Business Owner’s Policy (BOP) Insurance?

A Business Owner’s Policy (BOP) combines business property and business liability insurance into one business insurance policy.
BOP insurance helps cover your business from claims resulting from things like fire, theft or other covered disasters. Business owners’ insurance also helps cover claims that could arise from your business operations. These include claims of bodily injury or property damage. They also include claims related to personal and advertising injury.

A Policy Customized to Your Business

Businesses can tailor their Business Owner’s Policy (BOP) to help meet their unique needs by adding optional coverages, like:
  • Data breach
  • Business income for off-premises utility services
  • Other specialized policies
A BOP policy can be custom-made to fit industry specific businesses. This means it’s great for businesses of any size, especially small businesses.
BOP insurance for business owners is built to cover companies that generally face the same risks. Customizing your BOP Insurance is an important first step when insuring your business. Small business owners should do this from the beginning to protect against losses and damages early on.

Who Needs a Business Owners’ Policy?

If you rent or own workspace or have client contracts that require general liability insurance, you’ll likely need a Business Owner’s Policy (BOP). A BOP can help your business if:
  • You have a physical location
  • There’s a possibility of you getting sued
  • You have assets that could get stolen or damaged

How Much Does a BOP Cost?

The average annual cost our customers paid for a BOP in 2021 was $3,135, or about $261 a month.1 Remember, every small business is unique and has different needs. So, insurance rates will vary. The best way to find out how much a BOP will cost for your business is to get a quote.

5 Reasons Your Business
Needs a BOP

Insurance for business owners
Business owner's policy insurance will help keep you protected if your company has:
BOP insurance policy
1. Employees:
Workers can accidentally injure customers or cause property damage. With this policy, you'll have protection for them and your business.
BOP Policy
2. Any chance of a lawsuit:
If a customer slips and falls at your store, this can help pay their medical expenses and your legal costs.
What is a business owners policy?
3. A physical location:
Your BOP policy can help cover businesses run out of your home, a rented or owned office, store or garage.
Business owners policy insurance
4. Assets that could get stolen or damaged:
Digital property, equipment, furniture, cash and inventory are all difficult to repair or replace without the right insurance.
What is BOP insurance?
5. Private customer data:
If someone steals or loses personally identifiable information, this can help pay expenses like notifying impacted clients and public relations.

To learn more:

What’s the Advantage of a Business Owner’s Policy?

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:
  • Fire
  • Theft
  • Lawsuits
  • 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 a 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
  • Data breach
  • Professional liability

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What Is Covered Under a Business Owner’s Policy?

A Business Owners’ Policy (BOP) bundles business property and liability insurance into one policy. This means it can help cover claims of bodily injury and property damage to your building, equipment or inventory.
Some coverages that are included in a BOP are:
Commercial property insurance for help protecting business property that you own, lease or rent, including your:  
  • Buildings
  • Equipment
  • Inventory
  • Furniture
  • Fixtures
In addition to these, commercial property insurance also helps cover losses of accounts receivable and valuable papers or records.
General liability insurance, which helps 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. Depending on your policy, it may also cover other extra expenses incurred.

Additional Coverages You Can Add to Your Business Owner’s Policy Insurance

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

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
  • Public relations
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.

Professional Liability Insurance

Professional liability insurance can help protect you from claims of negligent acts or errors in your professional services. However, some types of businesses may not be eligible for this coverage. This insurance is also known as errors and omissions coverage.

Workers’ Compensation Insurance

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:
  • Injury
  • Illness
  • Death
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.

Commercial Auto Insurance

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 the 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 today.

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Commercial Property Insurance


General Liability Insurance

Last Updated: July 8, 2022
1 Premium amounts presented are based on monthly premium paid by The Hartford’s Small Business customers between 1/1/21 and 12/31/21 for 12 month policies. Premium is derived from a number of factors specific to your business and may vary.
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The Hartford shall not be liable for any damages in connection with the use of any information provided on this page. Please consult with your insurance agent/broker or insurance company to determine specific coverage needs as this information is intended to be educational in nature.
The information contained on this page should not be construed as specific legal, HR, financial, or insurance advice and is not a guarantee of coverage. In the event of a loss or claim, coverage determinations will be subject to the policy language, and any potential claim payment will be determined following a claim investigation.
Certain coverages vary by state and may not be available to all businesses. All Hartford coverages and services described on this page may be offered by one or more of the property and casualty insurance company subsidiaries of The Hartford Financial Services Group, Inc. listed in the Legal Notice.
The Hartford Financial Services Group, Inc., (NYSE: HIG) operates through its subsidiaries under the brand name, The Hartford, and is headquartered in Hartford, CT. For additional details, please read The Hartford’s Legal Notice.
* Customer reviews are collected and tabulated by The Hartford and not representative of all customers.