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A businessowners policy (BOP), combines various insurance coverages – such as commercial property insurance, general liability and business income – into one convenient policy.

BOP coverage options

A basic businessowners policy typically includes three or four key coverages:

  • Commercial property insurance, which protects your building, equipment and inventory.
  • General liability insurance, which helps cover any medical expenses and bodily injury/property damages you and your employees are legally responsible for.
  • Business income, which helps you pay bills and employees if your business has to temporarily close.
  • Crime insurance, which helps protect your business from fraud, theft and forgery.

Additional BOP coverage options include:

  • Accounts receivable, which protects against losses from unpaid invoices.
  • Cyber liability, which covers attacks and damages to computer systems or electronic data.
  • Equipment breakdown, which covers your equipment, including computers.
  • Personal and advertising injury, which covers copyright infringement, libel and slander.
  • Rented vehicles, which provides liability coverage for vehicles you lease, hire or borrow.
  • Employment Practices Liability, which covers liability of wrongful acts arising from the employment process.

When considering a BOP, keep in mind that it often makes sense to choose coverage specific to your industry and that some coverages aren't available in a BOP, such as business auto, workers' compensation, and employee benefits.

What types of businesses could benefit from a BOP?

Whether you own an auto repair shop, a retail store, an accounting office, or many other types of small business, a businessowners policy can be tailored to your needs. A BOP may make sense if your business:

  • Is located outside of your home.
  • Has fewer than 100 employees.
  • Has less than $5 million in annual sales.
  • Has property or equipment you want to protect.
BOPs don't cover every type of risk, nor do they make sense for every industry. To find out if a BOP is right for you, contact a local agent, visit Nationwide's BOP insurance page or call Nationwide at 1-888-490-1549.
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