Business Owner’s Policy Insurance in Texas
A Business Owner’s Policy, commonly called a BOP, can combine important business insurance coverages into one policy designed for eligible small and medium-sized businesses.
Lavon Insurance is an independent insurance agency serving Texas businesses. We work with multiple insurance carriers and can help you compare available BOP insurance options based on your business, operations and coverage needs.
What a BOP Commonly Packages
- Commercial property insurance
- General liability insurance
- Business income coverage, depending on the policy
- Optional endorsements, depending on the carrier
What Is a Business Owner’s Policy?
A Business Owner’s Policy is a commercial insurance package designed for certain small and medium-sized businesses. Instead of purchasing every coverage separately, an eligible business may be able to combine several core commercial coverages into one policy.
A BOP commonly combines commercial property insurance and general liability insurance. Depending on the insurance company and the policy selected, additional coverage options or endorsements may be available.
Larger businesses, businesses with specialized risks or companies with more complex operations may need a different commercial insurance structure.
What Does a Business Owner’s Policy Cover?
The exact coverage included in a BOP varies by insurance company, policy and business. However, BOP policies commonly include several important areas of protection.
Commercial Property Insurance
Commercial property coverage can help protect eligible business property against covered causes of loss. Depending on the policy, this can include a building, business personal property, equipment, furniture and inventory.
General Liability Insurance
General liability coverage can help protect a business against certain third-party claims involving bodily injury, property damage and personal or advertising injury.
Business Income Coverage
Depending on the policy, business income coverage may help replace certain lost income and cover eligible continuing expenses following a covered loss that temporarily disrupts business operations.
Equipment and Business Property
Eligible equipment, furniture, fixtures, inventory and other business property may be covered under the property portion of a BOP, subject to the policy terms and limits.
Optional Coverages
Depending on the carrier and business, additional endorsements and coverage options may be available to address specific risks or expand protection.
Additional Risk Protection
Certain businesses may need coverage beyond a standard BOP, such as cyber, professional liability, commercial auto or workers’ compensation insurance. We can help you identify coverage that may need to be written separately.
A BOP Does Not Cover Every Business Risk
One of the most important things to understand about a Business Owner’s Policy is that it is not an all-in-one policy for every possible business risk. Some businesses need additional policies because certain risks are excluded, limited or not included in a standard BOP.
Commercial Auto
Commercial auto insurance may be needed for vehicles used in business.
Workers’ Compensation
Workers’ compensation may be required or appropriate depending on the business and circumstances.
Professional Liability / E&O
Professional liability or errors and omissions coverage may be appropriate for certain professional services.
Cyber Insurance
Cyber insurance may provide protection beyond what is available under a standard BOP.
Specialized businesses may require additional commercial policies or endorsements. Coverage limits, exclusions, deductibles and endorsements vary by policy and insurance carrier.
BOP vs. Separate Commercial Insurance Policies
A BOP can be a convenient way for an eligible small business to combine certain coverages. However, a package policy is not automatically the right solution for every business.
| Consideration | Business Owner’s Policy | Separate Policies |
|---|---|---|
| Structure | Several eligible commercial coverages can be packaged into one policy. | Individual policies can be purchased for different risks. |
| Small Business Focus | Often designed for eligible small and medium-sized businesses. | Can accommodate businesses with more specialized or complex insurance needs. |
| Customization | Available options depend on the carrier and BOP. | Individual policies may provide greater flexibility for specific exposures. |
| Additional Coverage | Some additional coverages may be available by endorsement or as separate policies. | Specific risks can be addressed through dedicated policies. |
Who Might Need a Business Owner’s Policy?
A BOP can be an option for many eligible small businesses. The right policy depends on the type of business, location, property, operations and risks involved.
Retail Stores
Retail businesses may need protection for their location, inventory, equipment and liability exposures.
Professional Offices
Certain office-based businesses may qualify for a BOP depending on their operations and insurance needs.
Contractors
Some contractors may qualify for BOP coverage, although specialized operations may require additional policies.
Restaurants
Eligible restaurants may benefit from packaged property and liability coverage, along with additional coverage appropriate for their operations.
Service Businesses
Many small service businesses may be candidates for a BOP, depending on their operations and carrier eligibility.
Home-Based Businesses
Some home-based businesses may need commercial insurance that goes beyond what a personal homeowners policy provides.
Why Get a BOP Through an Independent Insurance Agency?
Insurance companies have different eligibility requirements, coverage options, pricing and policy forms. Working with an independent agency can give you access to options from more than one insurance carrier.
Lavon Insurance can review available options and help you understand what is included, what may need to be added and where coverage limitations may apply.
What You Get With Lavon Insurance
- Multiple insurance carriers
- Local, personal service
- Commercial insurance experience
- Help comparing coverage and price
- Coverage options for Texas businesses
- One agency for multiple insurance needs
How to Get a Business Owner’s Policy
Getting started is straightforward. We’ll gather information about your business and use it to identify available commercial insurance options.
Tell Us About Your Business
We’ll ask about your business type, location, operations, property, employees and other relevant details.
Compare Available Options
We review available BOP options from participating insurance carriers based on the information provided.
Choose Your Coverage
We help you understand the available coverage so you can choose the option that fits your business needs and budget.
BOP Insurance in Lavon and North Texas
Lavon Insurance helps businesses throughout Texas explore commercial insurance options, with a strong local focus on Lavon and surrounding North Texas communities.
Because every business is different, we focus on understanding your operations before recommending insurance options.
Business Owner’s Policy Frequently Asked Questions
What is a Business Owner’s Policy?
A Business Owner’s Policy, or BOP, is a commercial insurance package designed for eligible small and medium-sized businesses. It commonly combines commercial property and general liability coverage into one policy.
What does a BOP usually include?
A BOP commonly includes commercial property insurance and general liability insurance. Depending on the carrier and policy, other coverage options or endorsements may also be available.
Does a BOP include general liability insurance?
General liability is commonly included in a Business Owner’s Policy. The exact coverage, limits, exclusions and conditions depend on the policy issued by the insurance carrier.
Does a BOP include commercial property insurance?
Commercial property coverage is commonly included in a BOP for eligible businesses. It can provide coverage for eligible buildings and business personal property, subject to the policy terms and limits.
Does a BOP include business interruption coverage?
Business income or business interruption coverage may be included in eligible BOP policies. The exact coverage and conditions vary by policy and insurance company.
Does a BOP include cyber insurance?
Cyber coverage is not automatically included in every Business Owner’s Policy. Depending on the carrier, cyber coverage may be available as an endorsement or may need to be purchased through a separate cyber insurance policy.
Does a BOP include workers’ compensation?
Workers’ compensation is generally not part of a standard BOP. Businesses that need workers’ compensation typically purchase it as a separate policy.
Does a BOP include commercial auto insurance?
Commercial auto insurance is generally separate from a standard Business Owner’s Policy. Businesses using vehicles for business purposes may need a separate commercial auto policy.
Is a BOP cheaper than buying separate insurance policies?
A BOP can be a cost-effective way to package eligible commercial coverages, but pricing varies based on the business, coverage limits, deductibles, location, claims history and insurance carrier. Comparing available options is important.
How much does BOP insurance cost in Texas?
There is no single price for BOP insurance in Texas. Premiums depend on factors such as the type of business, location, revenue, payroll, property values, coverage limits, claims history and other underwriting factors.
Who is eligible for a Business Owner’s Policy?
Eligibility varies by insurance company. Many BOPs are designed for small and medium-sized businesses with relatively straightforward risks, while larger or more specialized businesses may need other commercial insurance solutions.
Can Lavon Insurance compare BOP insurance from multiple companies?
Yes. Lavon Insurance is an independent insurance agency and can review available Business Owner’s Policy options from participating insurance carriers based on your business and coverage needs.
Protect Your Business With the Right Coverage
A BOP can be a convenient way for an eligible business to combine important commercial coverages. Lavon Insurance can help you compare available BOP options from multiple insurance carriers and make sure the policy fits the risks your business actually faces.
Insurance coverage, limits, exclusions, eligibility and pricing vary by insurance company and policy. Information on this page is provided for general educational purposes and does not modify or replace the terms of an insurance policy. Contact Lavon Insurance to discuss your specific business insurance needs.