A business owner’s policy, known as a BOP, is an all-inclusive business insurance policy for small- to medium-sized businesses. These policies can be fully customized to include a wide array of coverage options to ensure the full protection of your business. In fact, many business owners value BOPs because the bundle-style policy is generally more inexpensive than buying individual policies. 
Most BOPs are written as all-risk policies, which means that the insured is protected against all losses except those specifically excluded from the policy (whereas a named peril policy only covers losses that are specifically listed in the policy). Below are some exclusions that are typical of BOPs:
- Flood damage, including sewer backup and seepage
- Earthquakes
- Pollution and smog
- Power failure
- Normal wear and tear, including rust, corrosion and decay
- Damage caused by animals or insects
- Malfunction of machinery and equipment
- Computer system errors and/or malfunction
- Intentional illegal actions committed by the insured
- Internal fraud or criminal behavior
- Loss of market
- Damage caused by faulty property design, planning or development
- Military actions or government operations
- Nuclear hazard
BOPs exclude these coverages so that you don’t have to pay for coverage that you’re not likely to use. For example, you may not need flood coverage if your business is not located in a known flood zone. This helps you save on your premiums.
However, you can still fill in any coverage gaps with additional policies as needed. Maybe you need that flood coverage after all, or perhaps you want to purchase equipment breakdown coverage to protect your break room appliances or specialized machinery. Your independent insurance agent can help you custom-tailor your BOP to meet the unique needs of your business.
Get the coverage you need. Call Gray Insurance Group, Inc. at 410-879-6383 for more information on Bonita Springs business insurance.