What is a Businessowners Policy

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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Product, coverage, discounts, insurance terms, definitions, and other descriptions are intended for informational purposes only and do not in any way replace or modify the definitions and information contained in your individual insurance contracts, policies, and/or declaration pages from Nationwide-affiliated underwriting companies, which are controlling. Such products, coverages, terms, and discounts may vary by state and exclusions may apply.