This policy has been compared to a homeowner’s policy for a small business. BOPs combine the basic coverages a typical small business needs into a comprehensive package at a premium that is generally less than would be required to purchase these coverages separately. A typical Business Owner insurance policy includes:

• Property insurance – Covering buildings & business personal property such as equipment, inventory, tenant improvements and betterments, and furniture.
• Business Interruption Insurance and Extra Expense – Will protect a company against losses resulting from a temporary shutdown because of fire or other insured peril. It will provide reimbursement for lost net profits and necessary continuing operating expenses. Liability Insurance – coverage for general liability, personal & advertising injury liability, product and completed operations liability, and fire legal liability.
• Crime Insurance – covering loss of money or securities resulting from robberies or burglaries as well as losses from employee theft or embezzlement.
• Hired and Non-owned Auto Liability – “Hired Auto Liability” provides liability protection for the company for vehicles they rent and “Non-owned Auto Liability” provides liability protection for vehicles not owned by the company (Example: an employee driving their own car during the course of conducting business).