Call Us (703) 751-1001 ☰ ˟
Request A Quote Manage Policy
Logo
(703) 751-1001
  • HOME
  • COVERAGE
    • Auto
    • Boat
    • Business
    • Commercial Auto
    • Financial
    • General Liability
    • Home
    • Life
    • Workers Compensation
  • GET A QUOTE
    • Automobile
    • Boat
    • Business
    • Homeowners
    • Life
  • CUSTOMER SERVICE
  • BLOG
  • RESOURCES
    • Refer a Friend
    • Insurance Glossary
  • ABOUT US
    • About Us
    • Your Trusted Nationwide© Insurance Agency
    • Our Locations
    • Employee Directory
    • Privacy Policy
  • CONTACT
Icon Icon Icon Icon Icon Icon
Home > Blog > What Property Does a BOP Cover?
WEDNESDAY, DECEMBER 23, 2020

What Property Does a BOP Cover?

Commercial store fronts

A BOP, or business owners policy, combines basic coverages into a single, reliable policy geared for small businesses in low risk industries. One side of a business owners policy covers the physical property of the business.

Commercial property insurance is the main property coverage available under a BOP. This insurance covers most of the physical assets of your business from damages and loss caused by:

  • Fire
  • Wind
  • Hail
  • Lightning
  • Smoke
  • Explosions
  • Theft
  • Vandalism

Commercial property insurance may cover the physical location of the business (such as a store or office) and its contents, including furniture and equipment. BOPs are flexible to allow business owners to add coverage as they need it, however. While commercial property insurance automatically comes with a BOP, there are other coverages you may add in order to protect your business’ physical belongings.

Commercial Auto Insurance

When added to a BOP, commercial auto insurance may cover the vehicles owned or used by the business for work purposes. If your business has company cars or uses vehicles to transport equipment, for example, you may need commercial auto insurance to protect the vehicles and those inside.

A commercial auto insurance policy may include coverages such as:

  • Comprehensive coverage covers damages to the vehicle caused by fire, wind, hail, lightning, theft, vandalism and more.
  • Collision coverage covers damages to the vehicle caused by a collision with another vehicle or object.
  • Liability covers bodily injury and property damage the driver may cause to someone else while operating the insured vehicle.
  • Medical Payments coverage provides compensation for injuries sustained by the driver and their passengers after an accident.
  • Uninsured/Underinsured Motorist covers damages involved in an accident with another driver who is not carrying insurance.

Inland Marine Insurance

Most commercial auto insurance policies don’t cover the equipment you may be transporting. Inland marine insurance can cover the equipment or products you are transporting in a vehicle if they are damaged during transport.

Crime Insurance

Crime insurance covers the business in the unfortunate case of employee theft. If an employee steals or commits fraud against the business, crime insurance can step in to help compensate for the losses.

Equipment Breakdown Insurance

Equipment breakdown insurance covers repair and replacement costs if important business equipment suddenly breaks down. If your restaurant’s freezer breaks down due to an incident, for example, equipment breakdown insurance will help cover the cost of repairing or replacing it.

Additional Floaters

Floaters are extra coverages you can add to different aspects of your insurance policy to enhance the coverage already present. This insurance is important in case your original policy reaches its limit for the claim, such as being unable to cover an expensive piece of equipment.

Also Read: What Does General Liability Insurance Cover?

Get A Quote

Posted 1:15 PM

Tags: bop, business owners policy, business insurance, commercial insurance
Share |


No Comments


Post a Comment
Required
Required (Not Displayed)
Required


All comments are moderated and stripped of HTML.

NOTICE: This and all content is developed from sources believed to be providing accurate information. The information in this material is not intended to be used as tax or legal advice. Please consult with a tax and/or legal professional for detailed information regarding your individual situation. Some of this material was developed and shared by Burke & Burke Insurance Agency to provide information that may be of interest. Burke & Burke Insurance Agency is not affiliated with the named representative, broker-dealer, state- or SEC-registered investment advisory firm. The opinions expressed and material provided are for general information, and should not be considered a solicitation for the purchase or sale of any security.
Blog Archive
  • 2021
  • 2020

  • auto insurance(4)
  • car insurance(3)
  • business insurance(3)
  • commercial insurance(3)
  • burke and burke insurance agency(3)
  • burke and burke insurance(2)
  • home insurance(2)
  • homeowners insurance(1)
  • costs(1)
  • home(1)
  • uninsured and underinsured coverage(1)
  • workers compensation insurance(1)
  • repairs(1)
  • bop(1)
  • business owners policy(1)
  • insurance(1)
  • general liability insurance(1)
  • claims(1)

View Mobile Version
Facebook
Twitter
Google+
Get Directions
Contact Us Today
We’ll Contact You!
Resources
Get A Quote
Customer Service
About Us
Blog
Refer A Friend
Contact Us
Contact us 4115 Annandale Rd. Ste 300
Annandale VA, 22003

PH: (703) 751-1001
FX: (703) 663-8216
Email: info@burkeandburkeinsurance.com
© Copyright 2020. All rights reserved. Powered by Insurance Website Builder.