Businesses can purchase policies from insurance providers that offer comprehensive protection from all significant property and liability risks. (They also offer distinct coverages.) The business owners policy is one bundle that small and medium-sized firms purchase (BOP).
Who Is Insured Under BOP?
A BOP often offers protection to business owners from liability, risk, property damage, and business interruption. While insurance companies’ coverage options differ, businesses frequently have the option to tack on extra protection against crime, item spoilage, forgery, fidelity, and other risks.
What is difference between general liability and bop?
Only advertising claims are covered by general liability insurance, along with bodily harm and property damage to customers. In addition to business interruption insurance and property insurance for your property and equipment, BOP also provides general liability.
What Is NOT Covered By BOP?
Professional liability, auto insurance, worker’s compensation, and health and disability insurance are NOT covered by BOPs. To cover professional services, cars, and employees, you’ll need various insurance plans.