Business Owners Policy (BOP)
Commonly known simply as a BOP, a Business Owners Policy is a sort of package of business insurance. It has three parts.
The first is property coverage for your business property.
The second is liability coverage.
The third is business income: time element coverage. This protects the income statement by replacing profits lost due to the inability to operate if the physical plant can't open while repairs are made.
Here at Gordon Atlantic, we like to say it is like a family style policy, as opposed to a Commercial Package Policy, which would be a la carte. Another way to decide if a BOP is right for you is as followed. Ask yourself, are there many other businesses just like mine out there? If yes, a BOP probably fits.