Texas Business Owner’s Policy (BOP)
A Business Owner’s Policy (BOP) combines business property and business liability insurance into one convenient policy. A BOP helps cover your business from claims resulting from things like fire, theft or another covered disaster and from claims involving bodily injury, property damage and personal and advertising injury that could arise from your business’ operations.
Businesses can tailor a Business Owner’s Policy (BOP) to help meet their unique needs by adding optional coverages like data breach, business income for off-premises utility services and other specialized coverages to their BOP.
Who needs a Business Owner’s Policy?
You should consider a business owner’s policy if:
- Your business has a physical location, whether it’s out of your home or a rented or owned office, store or other work place.
- There’s a possibility of you being sued – for example, by a customer who was injured at your work place.
- You have assets that could be stolen or damaged – whether they’re digital assets, customer data, equipment, furniture, cash or inventory.
What does a Business Owner’s Policy (BOP) typically include?
- Business Property Insurance
- Business Liability Insurance
- Business Income Coverage
There are additional coverages that you can add. Here are two popular optional coverages that are frequently added to a Business Owner’s Policy:
- Professional Liability (Errors and Omissions) Coverage
- Data Breach Coverage