Business Owners Policy (BOP) Insurance in St Petersburg, FL
A business owners policy (BOP) is commonly used by small and mid-sized businesses to get their essential insurance coverages bundled into one package. Though industries and specifics may differ, many businesses face common risks, and BOPs are designed to address them.
Who Needs a BOP? 
BOPs are ideal for smaller businesses that operate in physical locations and don’t have specialized risks, such as the following:
- Retail stores
- Restaurants
- Small manufacturers
- Professional offices
What Does a BOP Cover?
Polices may offer limited customization depending on the business’s specific industry and needs, but BOPs typically include the following:
- General liability insurance may cover legal costs, settlements, and medical expenses if your business is found liable for causing bodily injury or property damage.
- Commercial property insurance may cover physical structures and their contents, such as equipment and inventory, against damage due to fire, theft, or vandalism.
- Business income insurance may help pay for ongoing business expenses if a covered event halts operations.
A BOP won’t cover all risks, and some businesses may need to secure additional coverage; examples include professional liability and commercial auto insurance. Additionally, most states require workers’ compensation coverage for businesses that meet specific criteria. It’s important to check with your insurance provider to see what coverages you are legally required to retain.
Contact Us
The professionals at Zirkle Insurance and Financial Services in St Petersburg, FL can help you determine the right coverage for your business needs and budget. Contact us today for a personalized quote or more information.