BOP Insurance: The Smart Way to Insure
Your Company

If you’re like most business owners, your company is most successful when everything’s running smoothly. But what happens when something beyond your control throws a wrench into the works? What if a windstorm knocks out power in your city for a week? Or a fire in a neighboring space ruins all of your merchandise? Will you be able to meet payroll and pay company bills?

Smart business owners prepare for the unexpected by investing in a business owners policy, commonly referred to as “BOP” insurance. A BOP insurance policy combines property and liability coverage in one policy, and offers qualifying businesses insurance protection at a price that’s often lower than buying the same coverage separately or from different companies.

What a business owners policy covers

Think about BOP insurance as a homeowner’s policy for your business. It offers a range of coverage that most small and medium-sized businesses need. Most importantly, it can help you cover expenses when the unexpected interrupts your ability to generate cash flow.

Common BOP coverage includes:

• Property insurance, which protects your building, equipment and inventory.
• Business Income insurance, which protects you from losses that occur when you must suspend your operations due to a covered loss.
• Bodily Injury and Property Damage Liability, for those instances when your employees, products or services cause harm to other people or their property
• Personal and Advertising Injury coverage for copyright infringements, libel, or slander.
• Medical Payments coverage for medical expenses resulting from injury to others on premises you own or rent.
• Rented vehicle coverage also known as Hired Auto coverage – provides liability coverage for autos leased, hired or borrowed by the insured. Non-owned Auto coverage provides liability for employees using their personal auto in the business of an insured. Both coverages provide only liability coverage. A business auto policy is needed if physical damage coverage is desired.
• Equipment breakdown coverage, which protects you if your equipment is damaged from power surges, mechanical breakdown, burnout or operator error.

Customize your BOP insurance policy

BOP insurance does not eliminate a company’s need for additional kinds of insurance. For example, you will still need to purchase business automobile insurance for any vehicles your company owns or a worker’s compensation policy to cover the exposures you might face if your employees get injured on the job. And there might be other risks your company faces, depending on the kind of business you operate.

Contact a Nationwide agent today for a free business owners policy quote.