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Business Owners Policy

The Business Owners Policy (BOP) is a hybrid product created for small to mid-size businesses.  Its policy forms are broken down into two sections: Property and Liability.  The coverage in each section is nearly identical to the Commercial Property Policy and Commercial General Liability.

There are some additional coverage details thrown in which make the products more robust in terms of coverage.  In this sense, the policies don’t have to be “designed” to your exposures in the same as a Commercial Package Policy (CPP) or mono-line property or liability products.

Commercial Package Policy (CPP) is the combination of Commercial Property and Commercial General Liability policies with the same carrier, merged onto one “package”

Additional coverage in the BOP often includes: Crime, Peak Season Coverage Increases, Outdoor Signs, Accounts Receivables (cost to recover) and Valuable Papers and Records (cost to recover).

The primary advantage of the BOP is cost.  Usually, the rates are much lower for a Business Owners Policy, as opposed to buying the coverage separately.

Your exclusions and limits are similar to what you’ll find in the Commercial Property and CGL policies.