BOP for my small business

Submitted by Anonymous (not verified) on Mon, 02/01/2010 - 12:47

My friend is helping me to start a small business. He's suggested that I look for property insurance and liability insurance. I was going through an online business quick-list and came to know of this BOP policy. Is it really helpful for small businesses?

Posted: 01 Feb 2010 01:52 Post Subject:

I'm not an agent but I've dealt with BOP policies many times. As an adjuster they can be pain as they are uniquely written in each case. But this is what makes them good for a small business... you can obtain only the coverage you need.

Posted: 02 Feb 2010 07:57 Post Subject:

Well, it sounds good if the coverage is tailored to meet my needs. I'd be interested to know if it covers all that property insurance covers for me.

Posted: 03 Feb 2010 08:59 Post Subject:

Yes, these plans are known to be good for the small businesses only.
Large businesses don't qualify for such coverage as they involve more risks.

Posted: 04 Feb 2010 09:59 Post Subject:

The cost of a BOP would depend on a number of factors like- business location, financial strength, security features, chances of destruction caused by fire, construction quality etc.

Posted: 04 Feb 2010 05:41 Post Subject:

"BOPs," or "Businessowner's Policies" are the commercial equivalent of a homeowner policy. It's a package of coverages contained within a single contract, unlike a commercial package policy which must be "built" in order to provide a package of coverage.

BOPs are not available for all types of commercial risks; they're only for small and medium size businesses and it truly simplifies the underwriting process. BOPs will take on only certain risks that are generally considered to bring a smaller exposure to the table. Ineligible risks include, but are certainly not limited to:

  • Any automobile business (repair, service, dealers, parking lots, etc.)
    1 or 2-family dwellings
    Places of amusement
    Financial institutions
    Wholesalers, unless eligible under another category
    Bars, grills, restaurants, unless eligible under another category
    Contractors, unless eligible under another category


There are also limits on the square footage, height and size of the building that houses the risk, etc.

These contracts can be perfect for the right risk, and are "easy-peasy lemon squeezy" to write.

InsTeacher 8)

Posted: 05 Feb 2010 07:00 Post Subject:

I guess a BOP policy offers business interruption insurance as well. It covers your losses arising out of a period when you've been forced to close down operations temporarily or stop or lessen production. Business interruption insurance might offset your insured losses for a period of one year.

Posted: 05 Feb 2010 10:42 Post Subject:

Hi Mark

BOP for small business is a good plan. Any business involves a lot of risk and hence you need to get it covered to prevent extreme losses. Your BOP policy will cover for losses that may cause you to shut down business or for loss of production. It covers you for any harm done to others by your employees or products. Accidents may attract lawsuits. Your BOP policy will provide coverage then. You will also be covered against burglaries or any destruction or even robberies.

I found you an article link from this website. I think you can find useful information here on BOP

Posted: 10 Feb 2010 06:44 Post Subject:

A BOP policy is quite good in the sense that it covers you for certain thefts, hooliganism, or burglaries. Thus it protects your losses in terms of money as well as securities.

Posted: 05 Apr 2011 05:54 Post Subject: nzxJkUguRNlWYuHIR

Owners policy.. Retweeted it :)

Posted: 22 Apr 2011 01:22 Post Subject: tirGeYQIuFGJYL

Owners policy.. May I repost it? :)

Posted: 30 Apr 2011 06:55 Post Subject: kYRocMIhgBrZRkLF

Owners policy.. Nice :)

Posted: 03 Jun 2011 12:21 Post Subject: DreRdPRAvKXkADvpink

Owners policy.. Amazing :)

Posted: 03 Jun 2011 05:26 Post Subject: OjidviOCVa

Owners policy.. Not so bad :)

Posted: 31 Jul 2012 04:29 Post Subject: GdWILWYBgatxTPz

if these are your figures, that would be a short term gain of $74200 and hwveoer much that increased your gross income is what your income taxes would beordinary rates of at least 28% or up to 35%there would be no penalties, the fees you pay should be included in your cost of sale, reducing the amount of your gain

Posted: 01 Aug 2012 12:03 Post Subject:

Hello Friend,

What is BOP policy. Can you explain in detail. How it is beneficial for a bussiness man.

Posted: 01 Aug 2012 12:14 Post Subject:

A Business Owner's Policy covers the cost of keeping a business open and operating when the owner is disabled. It pays most expenses other than the owner's income.

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