Business Owner's Policy (BOP) combines two critical business insurance coverages: business property and business liability. With one convenient policy, you're protected against fire, theft, lawsuits and more.
In addition, you can purchase optional coverages allowing you to tailor a policy that meets the unique needs of your business, today and as it evolves.
Business Property Insurance
Property insurance can help protect the property your business owns, leases or rents, including things like buildings, equipment, inventory, furniture and fixtures. It provides coverage for damaged computers and media and loss of accounts receivable records.
Business Liability Coverage
When it comes to liability protection, the broader the coverage the better. That's why BOP insurance provides business liability insurance that covers your business in the event your business is responsible for causing harm to a person and/or damage to property. It also helps cover the cost of your defense.
Loss of Business Income
If unexpected events cause your operations to be suspended due to a covered cause of loss, BOP insurance can help replace any loss of income to help you meet your continuing financial obligations such as rent or payroll.
Data Breach Coverage
Offered as an optional coverage, data breach coverage provides you with access to professionals who can help you comply with regulatory requirements, provide guidance on how to help prevent a data breach and handle a breach crisis if one occurs. Response expense coverage can help to quickly restore confidence in your business or practice through notification to impacted individuals and can help pay for good faith advertising expenses, for example. In most states, coverage is also available for defense and liability expenses in the event you're sued because of a breach.
Professional Liability (Errors and Omissions) Coverage
• You put your professional judgment and expertise on the line just about every day. Even if you’ve done nothing wrong, your business can be sued by a customer or client claiming a negligent act, error or omission in the professional services you provided. Add Professional Liability (Errors and Omissions) coverage to your BOP insurance to help protect your business from this type of claim.
Employment Practices Liability Insurance (EPLI)
If you're a business that has employees, then you probably need insurance that helps protect you from employment related claims resulting from alleged or actual acts of:
- Discrimination
- Harassment
- Retaliation
- Violation of the Family Medical Leave Act
- Wrongful discipline
- Wrongful failure to promote
- Wrongful termination
A Business Insurance Policy (BOP) insurance can automatically include EPLI coverage, usually with a limit of $10,000* which helps protect you from the types of claims above. To help make sure that you have an insurance program that's "just right" for you, we give you the flexibility to increase the amount of EPLI coverage that is automatically provided.
*EPLI is not available in every state, including CA, and may not be available in limits of $10,000 in states where coverage is offered.