Business Owners Policy (BOP) Insurance
Paychex Insurance Agency works as your agent offering a bundled insurance plan that helps you save money, protects your business, and gets you back on your feet quicker after the unexpected.
What Is a Business Owners Policy?
A Business Owners Policy bundles three essential coverages into one convenient package:
- General Liability: for customer bodily injury or property damage to others
- Commercial Property: for your building, equipment, and inventory
- Business Interruption: for lost income and operating expenses if you have to close temporarily
This streamlined approach helps save you money compared to buying separate policies, can be customized based on your business needs, and is ideal for small to medium-sized businesses.
Why Choose Paychex for BOP Insurance?
Cost Savings Through Bundling
Combining general liability, property, and business interruption coverage into one policy typically costs less than purchasing each separately. You'll save money while getting the protection your business needs.
Comprehensive Coverage in One Plan
Protect your business from a wide range of risks with one convenient policy. No need to manage multiple carriers, premiums, or renewal dates.
Expert Guidance From Licensed Agents
Our experienced agents compare quotes from multiple top-rated carriers to find competitive rates and coverage options for your specific business needs. You get personalized recommendations without the research hassle.
Customizable Protection That Grows With You
Add optional coverages like employee theft protection, equipment breakdown, or fraud coverage as your business evolves. Your BOP can adapt to meet your changing needs.
Get Coverage in 3 Simple Steps
Receive Customized Guidance
Review personalized quotes from top-rated carriers and select your preferred coverage option.
Gain Peace of Mind
Quickly gain coverage with your comprehensive BOP policy to protect your business.
Affordable Coverage Tailored to Your Business
Every business is unique, which is why BOP insurance is customized to your specific industry, size, location, and coverage needs. Our licensed agents work with multiple top-rated carriers to find you the right protection at competitive rates.
You can purchase a BOP standalone or pair it with other Paychex business insurance products for even greater value and convenience.
Complete Your Business Protection
Pair your BOP insurance coverage with other insurance coverage to fully protect your business against the unexpected.
Commercial Auto Insurance
Protect your business vehicles and drivers from accident-related losses, liability claims, and property damage when employees are on the road.
General Liability Insurance
Cover third-party injuries, property damage to others, and advertising injury claims to protect your business assets from costly lawsuits.
Workers' Compensation Insurance
Provide coverage for employee work-related injuries and illnesses while protecting your business from liability claims.
Cyber Liability Insurance
Safeguard your business from the financial losses of data breaches, cyberattacks, and other cyber-related incidents.
Employment Practices Liability Insurance (EPLI)
Protect against claims of wrongful termination, discrimination, harassment, and other employment-related lawsuits from current or former employees.
Umbrella Insurance
Extend your liability coverage limits beyond your primary policies for additional protection against major claims that could threaten your business.
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Business Owners Policy (BOP) FAQs
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What Is a Business Owners Policy (BOP)?
What Is a Business Owners Policy (BOP)?
A Business Owners Policy (BOP) bundles essential property and liability coverage into one cost-effective insurance package. This streamlined approach combines general liability insurance, commercial property insurance, and business interruption coverage at a lower cost than purchasing each policy separately.
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What Does BOP Insurance Cover?
What Does BOP Insurance Cover?
BOP insurance typically covers three main areas:
- Commercial property insurance (protecting your building, equipment, inventory, and furnishings from damage or loss)
- Business interruption insurance (covering lost income and other expenses when operations are halted due to covered incidents)
- General liability insurance (protecting against third-party bodily injury, property damage to others, and claims from defective products or service errors)
Additional coverages can be added based on your specific business needs.
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Does My Business Need BOP Insurance?
Does My Business Need BOP Insurance?
A BOP policy is ideal for businesses with fewer than 100 employees and under $5 million in annual sales that need to protect valuable property, equipment, and business operations. If your business faces risks from property damage, liability claims, or potential income loss due to interruptions, a BOP provides comprehensive protection in one convenient package.
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How Much Does BOP Insurance Cost?
How Much Does BOP Insurance Cost?
BOP insurance costs typically range from $500 to $3,500 annually, depending on your industry type, business location, company size, coverage limits, and any additional protections you add. Paychex agents provide personalized quotes from multiple top-rated carriers to help you find competitive rates for your specific business needs.
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Who Should Have BOP Coverage?
Who Should Have BOP Coverage?
Small to medium-sized businesses that need affordable, comprehensive protection against property damage, liability claims, and business interruptions should consider BOP coverage. This includes retail stores, offices, restaurants, contractors, and professional services that own or lease business property and face customer liability risks.
