Business Owner's Policy (BOP)

Components of a BOP:

1. Property Insurance: This covers your business property, including buildings, equipment, inventory, and furniture, against damage or loss due to events like fire, theft, or vandalism.
2. General Liability Insurance: Protects your business against claims for bodily injury, property damage, and personal injury caused by your products, services, or operations. It also covers legal defense costs.
3. Business Interruption Insurance: Provides coverage for lost income and extra expenses if your business operations are disrupted due to a covered event, such as a fire or natural disaster. It helps you recover lost profits and cover ongoing expenses during the downtime.
4. Extra Expenses: If you need to incur additional expenses to resume operations more quickly or to mitigate further losses, Business Interruption Insurance can cover these extra costs.