Benefits of Business
Owner’s Policy


Prudent business owners spend time exploring insurance options because they understand the importance of protecting their growing companies. A business owners policy provides essential commercial insurance, primarily property and liability coverage. Buying multiple types of business insurance in one bundle offers business owners savings and convenience. At The Insurance Hub, our experienced commercial insurance agents can provide advice and guidance to ensure your business buys the right coverage at the best price.

Make Your Business Make Sense

Large and small businesses use insurance to protect themselves against unexpected threats. This type of risk management can help ensure business continuity and help strengthen the brand in the eyes of customers, partners, and financing sources. A basic business owners policy, often called a BOP, typically includes these essential types of insurance:

  • Property: This part of the policy protects the company’s buildings and other property from losses due to covered hazards, like theft or fires.
  • Liability: Liability insurance protects businesses against claims of harm caused by business operations.
  • Business interruption: This coverage helps reimburse businesses for lost income caused by covered threats.


Some insurance companies will add other types of insurance to a standard BOP. Insurers can tailor these policies to fit the unique needs of various companies. For instance, property insurance will typically cover computers. At the same time, it won’t protect businesses against the loss of valuable data. That coverage gap explains why companies commonly seek to add data breach insurance to their BOPs.

Some small businesses may start with only a business owners policy. At the same time, a BOP may only include some kinds of insurance that a small business needs to manage risks and protect itself. Some examples of typical commercial insurance coverage typically not offered by a BOP include:

  • Business owners life insurance: Companies use business owners life insurance to ensure business continuity if an owner or essential employee passes away.
  • Business owners life insurance: Companies use business owners life insurance to ensure business continuity if an owner or essential employee passes away.
  • Employee benefits insurance: A BOP won’t offer health, disability, or other employee benefits.
  • Worker’s compensation: Many companies must obtain worker’s compensation insurance to comply with state regulations.
  • Commercial auto insurance: Businesses need to buy commercial car insurance as a separate policy to cover vehicles and protect themselves against liability claims.

Business Owners Policy Can Help Companies Save Money on Premiums

Insurance companies like to offer bundled packages of business insurance because selling multiple types of coverage to each customer reduces their costs. Thus, insurers can charge less for a BOP than for separate policies. Insurance companies may also offer discounts for buying multiple policies.
For instance, businesses may save money by purchasing commercial auto insurance from the same company they bought their BOP from, even though the BOP doesn’t include coverage for company vehicles. At the same time, nothing forces a company to purchase all insurance from the same insurer, and businesses should shop around and compare prices and benefits.


Why Protect Your Business With a BOP?

A business owners policy can simplify insurance for insurance companies and their customers. Most companies will also enjoy lower premiums when they buy multiple types of coverage from the same insurer, even if a BOP doesn’t offer all the insurance the company needs.

Some insurers offer plenty of options to let growing businesses enjoy enough flexibility to meet their changing needs. Thus, a business owners policy can provide an affordable, simple, and flexible way to obtain protection against property damage, lawsuits, and income loss. Even so, a business owners policy may only provide some types of insurance that growing companies need.
Insurance companies vary considerably, so prudent business owners and managers should compare coverage to find the best solution for their unique location, requirements, and budgets. Our experienced, licensed business insurance agents will help you buy the right protection package and guide your business as needs evolve. Call or email The Insurance Hub to discuss your business goals and concerns.

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