Business Owners Policy

A package policy for small business owners

Liability and property protection for your business

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.

BOP Coverage

A business owners policy contains two primary coverages:

Liability

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.

Property

Provides coverage for commercial buildings and the movable property owned by and used for the business - referred to as business personal property. 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 that’s prone to earthquakes, you might want to consider adding an endorsement to your policy to extend coverage. Ask about endorsement options when getting your quote.

BOP cost

In 2019, small businesses nationwide who bought a new BOP policy through the Progressive Advantage® Business Program paid an average of $80 per month. While this gives you a general idea of what BOP insurance costs, it’s not necessarily what you’ll pay.

For instance, the price mentioned above is calculated using several different business types with varying levels of risk. 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 higher if you have a history of claims, high coverage requirements, or high exposure to risk, for example.

Getting a custom quote is a great way to find a rate that best matches your unique situation. Call us directly, or start a quote online.

Start protecting your business today

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.

Common questions

Small to medium-sized businesses with commercial property should consider a BOP. It combines general liability and commercial property insurance. This combination gives you both liability protection - for things like accidents and lawsuits - and commercial property insurance, which covers your building and business personal property.

Business personal property is coverage for property owned and used by your business. It’s a coverage included in a business owners policy.

A business owners policy covers liability claims, like customer injury and property damage not owned by the business, along with protecting 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.

Progressive can help you in getting a BOP for your business in the following states:

  • Alabama
  • Alaska
  • Arizona
  • Arkansas
  • California
  • Colorado
  • Connecticut
  • Delaware
  • Florida
  • Georgia
  • Hawaii
  • Idaho
  • Illinois
  • Indiana
  • Iowa
  • Kansas
  • Kentucky
  • Louisiana
  • Maine
  • Maryland
  • Massachusetts
  • Michigan
  • Minnesota
  • Mississippi
  • Missouri
  • Montana
  • Nebraska
  • Nevada
  • New Hampshire
  • New Jersey
  • New Mexico
  • New York
  • North Carolina
  • North Dakota
  • Ohio
  • Oklahoma
  • Oregon
  • Pennsylvania
  • Rhode Island
  • South Carolina
  • South Dakota
  • Tennessee
  • Texas
  • Utah
  • Vermont
  • Virginia
  • Washington
  • West Virginia
  • Wisconsin
  • Wyoming