What a businessowners policy (BOP) covers in New York
What does BOP stand for?
Businessowners policy. It combines commercial property, business income and general liability into one policy for eligible small businesses.
What does a businessowners policy cover?
Usually your building or business property, lost income after a covered loss, and liability for injuries or property damage to others. Options can include food spoilage coverage. The form and options vary by insurer.
Does a business owners policy include workers comp?
No. Workers compensation and New York disability benefits are separate policies. Employers in New York need them in addition to a BOP.
What does a BOP not cover?
Usually workers comp, commercial auto, professional liability, flood and earthquake. Some leave out employment practices and cyber unless added.
BOP vs general liability: what is the difference?
General liability covers claims that you hurt someone or damaged their property. A BOP includes general liability and adds property and business income coverage in one policy.
Do I qualify for a BOP?
It depends on the business type, size, building and claims history. Businesses that do not qualify may need separate property and liability policies. Send us your current policy and we will tell you which fits.
Related
Coverage descriptions are general summaries. The issued policy governs.