Simplify business with a Business Owners Policy (BOP)
Create a combination of coverages to help protect your unique business.
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- Commercial Auto Policies
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- Business Owner Policies
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What is a Business Owners Policy?
A Business Owners Policy (BOP) bundles two essential coverages: general liability and property insurance. This affordable insurance package protects you against the unexpected risks of doing business. It’s a great choice for small- to medium-sized businesses, such as hair salons, florists, landlords, photographers and more.
It's good to know that:
A BOP can easily be customized to match the unique needs of your business.
Equipment breakdown, loss of income, money and securities protection and more are included at no additional charge.
Business owners insurance from State Farm® is affordably priced based on the type of business you own, the value of your property, you as the owner and other factors.
What does a Business Owners Policy cover?
Business owners insurance is designed to protect you against a broad range of risks. The coverages typically included in a BOP are:
General Liability: This protects you against costly claims and lawsuits resulting from a customer being injured while at your business – and if you damage other people’s property.
Property Insurance: If buildings and other structures you own are damaged or destroyed, you’re covered. It also protects your office equipment, business equipment and inventory from a covered loss.
Loss of Income: In the event your business is shut down (for up to 12 months), this coverage protects your income and provides help for ordinary payroll expenses.
Equipment Breakdown: When your covered equipment breaks down or is damaged by covered claims, we’ll help pay to get things back up and running.
Professional Liability: Unfortunately, you could be sued as a result of the services you provide to your customers. For specific occupations, this coverage can be added for protection against costly claims and lawsuits.
Consider adding additional coverages
No two businesses are the same. Depending on the type of business you own, the number of employees you have, and other factors, what’s covered in the typical Business Owners Policy may not be enough. That’s why we offer a wide range of coverage options that can be custom fit to your needs.
Some of the most popular options include:
Commercial auto
Employers’ non-owned and hired car
If your business uses hired, leased or loaned vehicles on a short-term basis, or if employees use their vehicles for your business, you may want to consider employers’ non-owned and hired car coverages. Talk to a local agent about available coverage options in your state.
Workers' compensation
Commercial liability umbrella policy
Tips for buying business owners insurance
Business owners insurance is designed to protect you against a broad range of risks. The coverages typically included in a BOP are:
Assess your risks. Think about what kind of accidents, natural disasters, or lawsuits could damage your business. What business property do you own (for example, inventory, equipment or buildings) that could be at risk?
Work with an agent. State Farm agents are business owners too. They understand the unique needs of small business owners.
Re-evaluate every year. As your business grows, so do your potential risks. Check in with your local agent to make sure you have the proper coverage.
Do I really need business owners insurance?
Well, did you know the average bodily injury or property damage claim could cost your business tens of thousands of dollars, or more? Could you afford to pay these costs out of pocket? What about fires, extreme weather events, theft and other mishaps, which could also put you out of business if you don’t have the proper coverage?
Like a good neighbor, your local agent can help you create a plan that meets your needs at a price that fits your budget.
Talk to a local State Farm agent
This is only a general description of coverages of the available types of business insurance and is not a statement of contract. Details of coverage, limits, or services may not be available for all business and vary in some states. All coverages are subject to the terms, provisions, exclusions, and conditions in the policy itself and in any endorsements. Contact a State Farm agent for more information and a customized quote.
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