What does a Business Owner Package (BOP) typically bundle?

A Business Owner Package (BOP) is designed specifically for small to medium-sized businesses, combining essential coverage into a single policy for convenience and cost-effectiveness. It typically includes property insurance to cover business assets, liability insurance to protect against claims of bodily injury or property damage, and business income protection, which covers loss of income due to a covered event, such as a natural disaster or fire that halts operations. This bundling is advantageous for business owners as it simplifies their insurance needs through one policy that addresses multiple risks, making it easier to manage and often reducing overall premiums compared to purchasing those coverages separately.

In contrast, the other options include combinations of coverage types that don’t align with the standard offerings of a BOP. For instance, health and life insurance are generally not included in a BOP, as they are typically outside the scope of business property and liability coverage. Therefore, focusing on the essential risks faced by a business, the combination of property, liability, and income protection accurately reflects what a Business Owner Package seeks to provide.