What is the average cost of a business owners policy, or BOP insurance? BOP insurance costs generally depend on your business operation and how large or small your business is. Below is an informative outline of business insurance policy costs throughout the country.
Over the past 5 years of all clients surveyed, as of 2015 the average cost of business owners policy or BOP insurance has been $572, with a medium price of $430. Increased property coverage typically increases premium costs.
This average takes into account the fact that most policyholders have basic BOP policies without many additional add-on coverages. If a business needs other coverages like hired and non-owned auto liability, a commercial umbrella, employee benefits liability, or other essential coverages, then the premiums paid can increase well above the average.
BOP insurance, also known as a business owner's policy, is coverage for liability risks plus other add-ons in one convenient policy.
BOP insurance coverage is generally purchased by small to medium sized businesses and can protect businesses from unexpected events that would otherwise lead to economic hardship.
Examples of coverage can include:
By combining policies, BOP insurance generally comes at a reduced premium. The extra savings from your BOP insurance can go into future projects for your business.
Eligibility for companies varies on the class of business, location, size and revenue. If you are unsure about whether your business is eligible, feel free to contact us to discuss your unique business exposures.
The following types of insurances generally are not covered by BOP insurance:
InsuranceTrak is here to help you with ALL types of business insurances! Other important business insurances to consider are as follows:
Search and select your state below to see specific information by state and then an overall guide to car insurance.
Your time is valuable, contact us and save it. We will be happy to advise you about the best options for your case in the blink of an eye! Being covered should not wait.Get a quote