A BOP policy is like a homeowner's policy, except it's a package policy for businesses.  Insurance companies offer policies that combine protection from all major property and liability risks in one package. A BOP policy is designed for small and mid-sized businesses.

It covers damage to building and contents owned by the company.

Liability insurance is included for harm caused to others including personal injury and property damage.

Business interruption insurance is included which means if you are forced out of your business location due to fire, smoke damage or other covered perils, you’ll have coverage for loss of income during the rebuilding of your business premises.  It can also include the extra expense of operating from a temporary location.

What If My Business Is Based In My Home?

Home based businesses require different coverage based on the type of business.  If your a manufacturer's rep your coverage will be significantly different from a home based day-care center.

Does your business have employees?  Do you have customers visit you at your home office?  Do you use your personal vehicle in the course of your business?

Depending on the type of home-based business, you’ll need insurance to protect the value of your business property from loss due to fire, theft, or other insured perils. You’ll also need liability protection if someone is injured as a result of visiting your business or using your product or service. Your homeowners insurance may provide some protection for your business, but it may not be sufficient. Options for property and liability insurance for home-based businesses include:

• Adding an “endorsement” to your homeowners policy
• Stand-alone home-based business insurance policies
• A Business Owners Policy—or BOP—which combines several types of coverage

FJ Torres Insurance specializes in business insurance and will be happy to complete a risk assessment to determine what type of business insurance will best fit your needs as well as being cost-effective.