If you own a small business, a b usiness o wner’s p olicy ( BOP ) protects you from liability claims and lawsuits; safeguards your buildings, equipment and inventory; and helps cover you financially if your business unexpectedly shuts down from a covered loss.
A BOP, or a business owner's policy, brings together most of the insurance coverage a small business owner typically needs in one package.
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SPEAKER 1: What is a BOP?
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As a small business owner, you're probably a champion at multitasking.
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Taking care of customers. Making payroll. Growing your business.
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Office buildings grow from small to large.
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It's all on you, and you've got it covered. Think of a BOP as an insurance policy that works as hard as you do.
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A BOP or a Business Owners Policy brings together most of the insurance coverage a small business owner typically needs in one package.
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Making it much simpler to protect your business.
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Here's what a BOP typically includes.
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First, the nuts and bolts of your business, your property. If your inventory gets damaged in a fire or a thief targets the laptops in your office, Property Coverage can help you recover. A BOP provides business income protection in case your property is damaged or destroyed by a fire, water damage, or other covered loss and your revenue stream is impacted .
This can even apply to damage at your suppliers or the warehouses you depend on. And Extra Expense helps get your business up and running as quickly as possible after a covered loss.
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What else? Liability. There are key legal risks to consider. General Liability insurance can include Premises Liability for accidental injuries like slips, trips, and falls at your property.
A BOP helps protect you by paying for costs or damages if you're held responsible. It also covers legal defense costs if you're sued, and as your business is unique, so is your BOP. You can get additional coverage based on what your business needs.
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Running a small business continues to evolve with a more efficient, cost-effective BOP. It's less likely you'll miss out on an important coverage. After all, you've got a business to run.
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To get started with the Business Owners Policy and other business insurance solutions, contact a Traveler's independent agent or visit travelers.com.
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Text, What is a BOP?
Copyright 2018, The Travelers Indemnity Company. All rights reserved. Travelers and the Travelers umbrella logo are registered trademarks of The Travelers Indemnity Company in the US and other countries.
Travelers builds specialized solutions for small business.
A business owner’s policy (BOP policy) combines commercial general liability and property insurance to help protect your small business against a variety of claims.
The general liability portion of a BOP safeguards your business in the event someone makes a claim against you or your business. General liability insurance provides protection from liability lawsuits resulting from things like a customer slipping on a wet floor, a defective product causing damage to a client’s property, or claims that the products or services you provided caused injury. It can also help protect you from libel, slander and certain legal claims related to advertising.
Commercial property insurance often includ es business income and extra expense (BIEE) . The property portion of a BOP helps protect business property you own, lease or rent, including your buildings, equipment, furniture and inventory. It helps cover repair or replacement costs of stolen, damaged or destroyed property, including property that isn’t yours but was in your care. It can also cover loss of income and covered expenses like rent, payroll and other financial responsibilities while your property is being repaired or replaced after a fire or other covered loss.
A Travelers BOP builds in many specialized coverages that can be tailored to the unique risks facing your business. Plus, it offers a wide variety of optional coverages that can offer additional protection.
Whether your equipment is used on job sites, such as an infrastructure project or stadium construction, or stored during nonuse, Travelers can help protect your owned, leased or borrowed equipment.
Protection that helps protect you, your business and employees when using rented, hired or personally owned non-owned vehicles for work purposes.
We understand the complexity of cyber threats and have cyber liability insurance solutions to help protect your business assets.
Protects against the theft of money and securities.
Travelers BOP is built to protect many types of small businesses .
Commercial r eal e state
Printers and p ublishers
Religious and c ultural o rganizations
Restaurant and f ood s ervice
Wholesalers and d istributors
If you are a small business owner, a Travelers business owner’s policy offers valuable protection if you encounter scenarios like the following:
Explore ways to protect your small retail business when the unexpected happens. Check out all the ways Travelers Insurance can help protect your small business.
Provide benefits to your employees and protect your business when a work-related injury occurs.
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Commercial umbrella and excess liability solutions can provide the extra protection you need for the big, unexpected events.
Unfortunately, mistakes can happen. Protect your business from liability risks resulting from professional services, advice or recommendations provided by your business.
With more than a century of expertise and more than 500 Risk Control consultants, Travelers has the experience and technical proficiency to help businesses manage their risks.
Our knowledgeable Claim professionals will respond to your needs with speed, compassion, integrity and professionalism. It's our business to help keep you in business.
Help keep your small business protected with articles, tips and checklists around common business risks and how to prevent them. Learn more with Travelers.
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Tailor coverage to address the risks to your business.
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Travelers and The Travelers Umbrella are registered trademarks of The Travelers Indemnity Company in the U.S. and other countries.
©2024 The Travelers Indemnity Company. All rights reserved.
The Travelers Indemnity Company and its property casualty affiliates. One Tower Square, Hartford, CT 06183
This material does not amend, or otherwise affect, the provisions or coverages of any insurance policy or bond issued by Travelers. It is not a representation that coverage does or does not exist for any particular claim or loss under any such policy or bond. Coverage depends on the facts and circumstances involved in the claim or loss, all applicable policy or bond provisions, and any applicable law. Availability of coverage referenced in this document can depend on underwriting qualifications and state regulations.
