Businessowners Policy

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Businessowners Policy

An insurance policy that provides coverage in case some event causes a business to relocate or temporarily close. It also provides coverage for damage to the property owned by the business. For example, if an office floods and becomes unusable, a businessowners policy will replace the profits the company would have made during the time the company was closed and also will pay to repair the damage from the flood.
References in periodicals archive ?
The company sells business owner's policies (general liability and business property insurance coverage) direct to small businesses on its website, www.assurestart.com.
The third-and-fourth-most-popular commercial lines were property and commercial Auto, while business owner's policies (BOP) seeing the lowest demand.
Business owner's policies may include some of the above policies; however, there may be specific limitations to the policy conditions and coverage amounts.

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