Commercial insurance options
Or, quote another product
A package policy for small business owners
Commercial insurance options
Or, quote another product
Business owners insurance, also known as BOP insurance, is a policy that combines both property and liability coverage into one package. It’s popular among a variety of small and medium-sized businesses, such as restaurants, wholesalers, retail stores and contractors.
Discover more about BOP coverage, cost and how you can protect your business through the Progressive Advantage® Business Program.
A business owners policy contains two primary coverages:
The liability coverages available on a BOP are the same as those on a general liability policy. This includes protection against liabilities like customer injury and property damage, advertising injury and product-related claims.
A BOP doesn’t cover your employees. You’ll need a separate workers’ compensation policy.
This coverage protects commercial buildings and business personal property, which is the movable property owned by and used for the business. It can also pay for other things like debris removal, loss of income and pollution cleanup as part of a covered loss.
A BOP policy, like most other policies, has certain coverage exclusions that you should be aware of. If you need protection for something that isn’t covered, policy endorsements might be available to extend coverage.
For example, damage from earthquakes is typically excluded from a BOP. If you live in an area prone to earthquakes, you might consider adding an endorsement to your policy to increase coverage. Ask about endorsement options when getting your quote.
In 2021, the median monthly cost of a BOP policy was $68 for new Progressive customers. The average price was $101 per month.
The lower median price suggests that a few expensive outliers made the average cost appear higher than what most policyholders spent.
Your final price will depend heavily on certain attributes of your business, including coverage needs, type of profession, number of employees and claims history. You might find that the cost of your BOP insurance is more expensive if you have a history of claims, high coverage requirements or above average exposure to risk.
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Our team of in-house specialists are experts at helping small business owners like you find BOP insurance coverage. They’ll help you get a quote with the best coverage for your specific business and budget.
Small to medium-sized businesses with commercial property should consider a BOP. It combines general liability and commercial property insurance. This combination gives you liability protection for things like accidents and lawsuits and commercial property insurance, which covers your building and business personal property.
Business personal property is property owned and used by your business. It’s covered by a business owners policy.
A business owners policy covers liability claims, like customer injury and property damage not owned by the business, and protects your commercial building and its contents.
A business owners policy combines general liability and property insurance into one easy-to-manage policy. General liability protects your business from third-party liability claims, including bodily injury, property damage and personal injury. There's no need for an additional general liability insurance policy if you have a BOP.
Yes. Progressive can help you get business insurance, including a business owners policy (BOP), in all states except Hawaii. Browse by state.