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Business Owner’s Policy

Protect your business with a Business Owner’s Policy—an affordable, all-in-one solution for liability and property protection.

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What is a business owner’s policy?

Running a business comes with risks—unexpected accidents, property damage, and lawsuits can happen at any time. A Business Owner’s Policy (BOP) simplifies your insurance by bundling two essential coverages:

But a BOP goes beyond the basics—it can also cover loss of income, payroll expenses, and temporary business closures caused by covered events. Want to learn more? Check out our guide: What is a BOP Policy?

Does Your Business Need a BOP?

For most small businesses, the answer is yes. Here’s why:

  • You interact with customers or allow public access to your location.
  • You own or lease a commercial space or have valuable equipment.
  • A single lawsuit could put your business at financial risk.
  • You want affordable, bundled coverage that simplifies protection.

A BOP is designed for businesses with fewer than 100 employees and under $5 million in revenue—making it a great fit for most small businesses.

Is a Business Owner’s Policy Right for Your Business?

Business Owner's Policy Eligibility

For most small businesses, the answer is yes. More than 80% of small businesses qualify for a BOP, and if your business has fewer than 100 employees and under $5 million in revenue, you’re likely a great fit.

Here’s when a BOP makes sense:

  • You work with the public – If customers, vendors, or clients visit your business, you need liability protection.
  • You rent or own a commercial space – A landlord or lender may require property insurance.
  • You have business personal property – If you rely on equipment, tools, or inventory, a BOP ensures they’re covered.
  • A lawsuit could be devastating – Legal fees alone can cripple a small business.
  • You want a simple, bundled policy – A BOP keeps coverage streamlined and affordable.

BOP vs. General Liability Insurance

Some business owners consider purchasing general liability insurance as a standalone policy. While liability coverage is critical, for most small businesses, general liability alone won’t protect your business property.

If your business owns real estate, equipment, or inventory, a BOP is the smarter choice—giving you both liability and property protection under one convenient bundle.

How to Get Proof of General Liability Insurance?

This is a good question. Just because you purchase a business owner’s policy doesn’t mean you can’t bet proof of general liability insurance.

Need proof of coverage for a lease or contract?

With IronPoint, you can request a certificate of insurance online and receive it the same day. Unlike brokers, we issue certificates directly—so you get fast, hassle-free service.

How Much Does a Business Owner’s Policy Cost?

Business Owner's Policy Cost

The cost of a BOP policy depends on several factors, including, making the cost unique to your business. Here are some of the things that impact the price you’ll pay:

  • How much coverage will you require?
  • What is the value of the property you’ll insure?
  • What industry do you work in?
  • Your type of business?
  • Where is your business located?
  • What is the annual revenue?
  • How many employees do you have?

While prices vary, BOPs are one of the most cost-effective ways to insure a small business. The best way to know for sure? Compare quotes today!

You Can Customize Your BOP Coverage

One of the great things about business owners’ policies is that it is extremely flexible. Business owners can add additional coverages, or endorsements to their policy to meet specific coverage needs. Each BOP also comes with what is called the “BOP Coverages” which are coverages with sub-limits that may already address your specific needs.

Here are some of the coverages you can either add or increase with the BOP you choose:

Liquor Liability Insurance

Liquor Liability Insurance

Protects against data breaches and online threats.

Business Interruption

Business Interruption

Helps replace lost income if your business temporarily shuts down.

Need additional coverage? You can also add a Commercial Umbrella Policy to increase liability limits.

Additional Essential Coverages for Small Businesses

If you own a business vehicle or have employees, these are two very important coverages you need to consider. In fact, you may be required to carry these coverages in most states:

Workers' Compensation Insurance

Workers’ Compensation Insurance

Covers medical expenses and lost wages for injured employees. (Required in most states if you have employees.)

Learn more
Commercial Auto Insurance

Commercial Auto Insurance

Covers vehicles owned or primarily used by your business.

Learn more
Need help figuring out what’s right for you? Our insurance specialists can guide you through the options.

Let’s Protect Your Business – Get Covered Today

Whether you’re a retailer, contractor, office-based business, or service provider,
having the right coverage gives you peace of mind. Start your quote today.

Compare Quotes
Quote & Buy Online

Call 877-334-7646 to speak with a business specialist.

FAQs About Business Owner’s Policies

How much coverage does my business need?

Coverage needs vary, but most small businesses choose $1 million per claim / $2 million aggregate general liability limits. This provides solid protection against most common claims.

Pro Tip: Many BOPs include defense costs outside the policy limit, so you don’t have to worry about legal fees eating into your coverage.

What is business personal property?

Business personal property includes tools, equipment, inventory, and furnishings—basically, anything movable that your business owns. This is covered under a BOP’s property insurance.

Does advertising liability cover social media?

Yes. If your business is sued for libel, slander, or copyright infringement related to your advertising (including social media), your BOP’s general liability section can help cover legal costs.

Will my independent contractors have coverage under my BOP?

Generally, no. Independent contractors should carry their own business insurance. You can sometimes add them as additional insureds, but it’s usually better to require them to have separate coverage.

Pro Tip: If you add a contractor to your policy, you may lose your right to recover damages if they cause harm to your business. It’s safer to require a certificate of insurance from them instead.

Does a BOP cover data breaches or cyber threats?

A standard Business Owner’s Policy typically does not include cyber liability insurance, but you can add it as an endorsement. Cyber Liability Insurance helps cover expenses related to data breaches, cyberattacks, and fraud.

Can a BOP help if my business shuts down temporarily?

Yes. Many BOPs include Business Interruption Insurance, which helps replace lost income if your business is forced to close due to a covered event like a fire or natural disaster.