A business owner’s policy (BOP) combines property and liability insurance by packaging these coverages into a single insurance policy. BOP insurance helps cover claims of bodily injury or property damage and is often a good choice for small and medium-sized businesses, such as restaurants or retail shops.
Get your free business owner’s policy quote and see how GEICO can help create a plan that works for your business.
What does BOP insurance cover?
The 2 main coverages provided in a BOP are liability and property coverages. Some examples are:
- Bodily injury or property damage liability (e.g., you spill water on a client’s computer causing damage)
- Defense costs for covered liability losses (e.g., libel and slander)
- Protection for business furniture and equipment (e.g., chairs, desks, and computers)
Managing your policy is easy.
Managing your business is hard enough. That’s why we’ve made it easy to keep up to date with your business owner’s policy. We’re here to help you make any necessary updates, because we know your business may change. Access your policy online or give us a call.
Who needs a business owner’s policy?
A business owner’s policy (BOP) may be right for you if:
You have a building or property to protect. For example, your business’ building or property is destroyed due to a covered loss, like a fire or theft. A BOP could help pay to repair or replace an owned building. It could also help replace destroyed personal business property, up to the limits you pick.
You want to protect your investments. For example, you get an email from a client, but you open it to discover that it contains a virus. A BOP could help pay for restoring data due to harmful code that damages or destroys any part of your company’s computer system.
You own a small business such as:
- Auto service & repair
- Commercial building & property owners
- Professional offices
- Restaurant Insurance
- Retail store & services
Still have questions? We’re here to help you. Still aren’t sure if a BOP is right for your business? Feel free to contact us. Our licensed agents will walk you through the process.