Business Owner's Policy Insurance for Florida Companies

Business Insurance for Business Owner's Policy

A Business Owner's Policy, commonly called a BOP, combines your most essential business coverages into a single, streamlined package. It bundles general liability insurance and commercial property insurance together, often at a lower cost than purchasing these policies separately. The Gordon Agency recommends BOPs for small to medium-sized businesses because they simplify insurance management while providing comprehensive protection. Instead of juggling multiple policies and renewal dates, you get core coverage in one package that's easy to understand and manage.

Why Your Business Needs This

• Bundling coverages typically costs less than buying separate policies for each exposure
• One policy with one renewal date simplifies your insurance management
• You get both liability and property protection without gaps in coverage
• Business interruption coverage is usually included, protecting your income after property damage
• Many BOPs include additional coverages that would cost extra as standalone policies

What It Covers

A Business Owner's Policy includes general liability coverage for bodily injury and property damage claims, protecting you when customers or vendors get hurt or when you accidentally damage someone else's property. Commercial property coverage protects your building, equipment, inventory, and furnishings from fire, theft, vandalism, and covered weather events. Business interruption coverage replaces lost income when property damage forces you to close temporarily. Most BOPs include equipment breakdown coverage, protecting against mechanical failures. Medical payments coverage handles minor injuries on your premises without requiring a lawsuit. Crime coverage may be included for employee theft and fraud. The Gordon Agency customizes your BOP with endorsements for your specific industry and risk exposures.

Which Businesses Are Eligible for a BOP?

BOPs are designed for small to medium-sized businesses with relatively standard risks. Retail stores, offices, restaurants, contractors, and professional services typically qualify. Businesses that occupy buildings under a certain square footage and have revenues below specific thresholds are usually eligible. However, high-risk businesses like bars, auto repair shops, and certain contractors may not qualify or may need specialized BOPs. Manufacturing businesses and those with unique exposures often need customized commercial package policies instead. The Gordon Agency evaluates your business characteristics and determines whether a BOP or a custom package better serves your needs.

Can I Add Additional Coverages to a BOP?

Yes, BOPs are flexible and can be enhanced with endorsements for specific needs. You can add professional liability coverage if you provide advice or services, cyber liability for data breach protection, and hired and non-owned auto coverage for employee vehicle use. Employment practices liability protects against wrongful termination and discrimination claims. Inland marine coverage protects equipment used away from your premises. The Gordon Agency reviews your operations thoroughly to identify any additional coverages you need and seamlessly adds them to your BOP for comprehensive protection.