A Business Owners Policy (BOP) is a Package policy that combines a number of coverages needed traditionally by small businesses, but have lately expanded into much larger businesses.
A BOP combines Building, Business Personal Property (contents), General Liability, Business Income as well as a long list of coverages in the one policy at much lower prices than they could be purchased separately. These policies work well for small businesses not only by being very affordable, but by including so many additional coverages at no additional charge it eliminates a lot of “grey areas” many business owners may not have considered – until after a loss happens. Minimum Premiums typically begin at $500 a year but offer a great deal more value.
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