All small businesses such as retail stores, restaurants, and independent contractors typically need a BOP to safeguard against unexpected financial losses beyond general liability claims. BOP protects your small business.
What’s in a business owners policy (BOP)?
A simple definition of BOP might contain only a few coverages, such as:
General Liability – Provides protection if you cause bodily injury, property damage, personal injury or advertising injury.
Property – Provides replacement cost coverage for buildings and most business owners’ personal property.
Professional Liability – Do you give professional advice or provide a professional service? If so, you should probably carry professional liability insurance. This can be endorsed to your BOP.