Business owner's policy

What is a business owners policy (BOP)?

A business owners policy (BOP) is a comprehensive insurance package that combines general liability and property insurance into one policy. This bundled package helps protect business assets like buildings, furniture, or equipment from fire, theft, or weather damage. It also provides coverage for business-related actions such as injury to a third party, property damage to someone else’s property, and personal and advertising injury.      

Why do I need it?

Business owners often choose this policy because it combines essential coverage like general liability and property insurance. Bundling these coverages into one policy can lead to significant cost savings compared to purchasing them separately. A business owner’s policy offers customization options, allowing them to tailor their coverage with specific enhancements to suit their unique needs. This tailored protection gives business owners peace of mind, enabling them to focus on running their business.  

How much does it cost?

The cost of a business owner’s policy (BOP) depends on several factors, including your location, the number of employees, and the level of risk your business faces.  Request a free quote to get an accurate estimate tailored to your business!

What type of events can a business owner's policy help pay for?

Businesses face various risks, and a business owner’s policy can provide coverage for many. Here are some examples of situations where Acuity’s BOP could help your business. 

• Fire damage: If a fire breaks out in your building, leading to damage to the structure, computers, or furniture.

• Power failure and changes in temperature: If a refrigerator unit fails to maintain its temperature, leading to spoilage of perishable inventory. 

• Valuable papers and records: If a fire or flood damages valuable papers or records like medical or legal documents.

• Medical bills: If a delivery person or customer trips and falls, resulting in an injury.

• Legal defense costs: If a client takes you to court claiming you breached your contract, even if that case is unfounded.

• Rental property damage repair costs: If there is accidental damage to your leased office space.

• Settlements and judgments: If your business is found liable in court and a customer is awarded a settlement, it is covered up to the policy limit.

What does it not cover?

While the business owner’s policy offers broad protection for your primary business location, you may need additional coverage for the following.

Workers's Compensation provides benefits to employees who suffer work-related injuries or illnesses. Acuity offers workers’ compensation insurance to ensure your employees can get back to work.  

Inland Marine helps if your business has property that is in transit or stored away from your main location. Examples include contractor's iequipment, tools, inventory in transit, or property used in construction. . 

Business Property protects your company’s physical assets against damage or loss due to various risks. Acuity can help protect your building and contents with our business property insurance.  

Crime and Fidelity protects your company from financial losses due to dishonest acts by employees or other trusted individuals. Acuity offers crime and fidelity coverage to protect your business from these crimes.   

Acuity’s specialized Bis-Pak plans

Acuity provides Bis-Pak plans tailored for manufacturers, contractors, and other small businesses.  You can add property and liability enhancements to make your business owner’s policy even more robust.

Acuity’s Bis-Pak enhancements come in three tiers, each available at a significantly discounted price. 

Full list of property enhancements

Full list of liability enhancements

OSHA 10-hour training

Offered at no cost to our insureds, OSHA training is available throughout our operating territory if you have 15 or more people to train. You and your employees can learn how to prevent, recognize, and control various safety and health hazards.