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 ?
Business owners' policies (BOP) rates decreased from plus 5 percent to plus 3 percent.
Beehive offers a full line of commercial insurance options, including business owners' policies, employee benefits, general and professional liability, surety bonds, trucking, umbrella policies, workers compensation and other applicable coverage.
Reliance launched Umbrella Online last month and will roll out business owners' policies in the first quarter.

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