Business Owners Insurance


Business owners insurance is a necessity for even the smallest company in order to protect and maintain its financial health.  Business Owners Policy BOP (also known as a Business Owners Policy or BOP) protects your small business from a variety of risks by combining property insurance, liability insurance, loss of income, advertising injury, business operation, data breach, crime coverage, and additional protection into a single premium, convenient policy.  In addition, it’s a cost-effective way to get the basic insurance coverages you need, plus the flexibility to expand as your business grows and your needs change in the future.

Typically a BOP insurance policy in Florida or Massachusetts will provide the following coverage:

  • Business interruption insurance covers losses that might cause you to shut down, cease operations or reduce production temporarily. Business interruption insurance can provide money to offset lost profits or to pay continuing expenses, and maybe covered for up to a year.
  • Crime insurance (this would cover money or securities loss as a result of the robbery, burglary, or destruction) also covers claims from employee theft or embezzlement.
  • Vehicle coverage for borrowed, rented, or leased vehicles.
  • Damaged property insurance for replacement cost value covers you for enough from your settlement to replace the property at current value.
  • General liability protection covers claims of bodily injury or property damage by someone injured at the premises of the business. The liability portion also provides insurance for the cost of defending lawsuits claiming that you are responsible for causing bodily injury or property damage.

The Business Owners Insurance Policy is ideal for small- and medium-sized businesses; normally, companies with 100 employees or under and revenues of up to about $5 million or less are candidates for a BOP insurance policy. Some types of businesses, such as restaurants, may be ineligible for business owners insurance because of the specific risks inherent in the business. If your business is deemed ineligible, you should look at individual coverages which can be purchased separately.

Business Owners Insurance Policies do not include coverage for Professional Liability or Workers Compensation.  Those policies are written separately.

Here at Econosurance, we’d love to discuss your business insurance needs in order to determine if BOP insurance is right for you. If your business is eligible, then obtaining insurance coverage under a BOP insurance policy will streamline your insurance needs to one comprehensive policy.

Get a business owner's insurance quote at (617) 864-2444.

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