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Business Owners Policy (BOP) Insurance for Small & Mid-Sized Businesses

Protect your business with a single, powerful policy that combines property and liability coverage.

At Latent Insurance, we help small and mid-sized businesses find the right Business Owners Policy (BOP) by shopping multiple carriers, translating insurance jargon into plain English, and making sure your coverage actually matches your risks and landlord/lender requirements.

Get a BOP quote in < 5 mins

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What is a Business Owners Policy (BOP)?

A Business Owners Policy (BOP) is a bundled commercial insurance policy designed for small and mid-sized businesses. It typically combines:

  • 1.
    General liability insurance - covers injuries or property damage you cause to others, plus things like advertising injury.
  • 2.
    Commercial property insurance - covers your building (if you own it) and business personal property (contents, inventory, equipment, fixtures).

Instead of buying separate policies, a BOP packages these core coverages together, often at a better price and with standardized terms for small business.

A BOP can be customized with additional coverages and endorsements, depending on your industry and risk profile.

What does a BOP typically cover?

Exact coverage depends on the carrier and options you choose, but a typical BOP can include:

1. General Liability

Protection if your business is held responsible for:

  • Customer slip-and-fall or other bodily injury on your premises
  • Damage to someone else's property
  • Personal and advertising injury (e.g., libel, slander, certain advertising claims)
  • Legal defense costs (within or outside limits, depending on the policy)

2. Commercial Property

Protection for:

  • Your building (if owned)
  • Tenant improvements and betterments
  • Furniture, fixtures, equipment, and inventory
  • Business personal property on premises (and sometimes off premises, with endorsements)

3. Business Interruption / Business Income

Helps replace lost income and cover ongoing expenses if a covered property loss (like a fire) shuts down or reduces your operations. Often included or available as an add-on.

4. Optional Coverages & Endorsements

Depending on your industry and carrier appetite, a BOP can often be extended to include:

  • Equipment breakdown
  • Spoilage / food contamination
  • Outdoor signs
  • Back-up of sewers and drains
  • Hired and non-owned auto liability
  • Cyber / data breach (sometimes as a separate policy)
  • Liquor liability (for eligible risks)

At Latent, we work with you to decide which of these actually matter for your specific business rather than selling a one-size-fits-all package.

Who is a BOP right for?

A BOP is typically a great fit if you:

  • Are a small or mid-sized business (often under a certain revenue/payroll threshold per carrier)
  • Have a physical location (owned or leased) where customers, clients, or employees work
  • Want to combine property and liability coverage for simplicity and cost efficiency

Common industries that often use BOPs include:

Hospitality

Small hotels, motels, boutique properties, bed & breakfasts

Food & Beverage

Restaurants, cafes, bakeries, bars (subject to carrier appetite)

Retail

Storefronts, boutiques, specialty shops

Professional Services

Agencies, studios, consultancies, small offices

Light Commercial & Trade

Small contractors, service businesses, light manufacturing/warehousing (depending on carrier)

If your operations are more complex, have unusual hazards, or exceed certain size thresholds, you might need a more customized package. We'll help you figure that out.

Why buy your BOP through Latent Insurance?

There are two main ways to buy a BOP:

  • Direct from a single carrier (online or through a captive agent)
  • Through an independent broker who can access multiple carriers

Latent Insurance is an independent commercial brokerage, which means:

We work for you, not for a single insurance company.

We can shop multiple carriers to find a BOP that fits your risk, your lease/lender requirements, and your budget.

We speak "carrier language" and can translate underwriting questions into something you can answer in a few minutes.

We help with policy changes, certificates of insurance (COIs), and renewal strategy as your business grows.

Our focus is on making commercial insurance feel more like a managed service and less like a one-time transaction.

How our BOP process works

1

Discovery (15-20 minutes)

We'll ask a focused set of questions about your business:

  • Legal entity name and DBA
  • Location(s) and occupancy details
  • Revenue, payroll, and operations
  • Building details (if you own the building)
  • Any special exposures (e.g., liquor, pools, special equipment)
2

Market Strategy

We identify which carriers are a good fit for your size, industry, and location, and decide where to submit.

3

Submissions & Quotes

We send your application to target carriers and collect quotes, clarifications, and any additional information needed. Typically < 5 mins once complete data is provided.

4

Recommendation & Explanation

We walk you through:

  • Proposed limits and deductibles
  • Key exclusions and endorsements
  • Pricing comparisons across carriers

We want you to understand what you're buying and where the trade-offs are.

5

Bind, Certificates & Ongoing Support

Once you choose a quote, we bind coverage, issue certificates of insurance (COIs) if needed for landlords or vendors, and stay with you for mid-term changes and renewals.

Industries we focus on

We work with a range of small and mid-market businesses, with particular experience in:

Hospitality & Lodging

Boutique hotels, limited-service hotels, motels, extended-stay properties

Food & Beverage

Full-service restaurants, quick-service concepts, cafes, bars (subject to carrier appetite)

Professional Services

Technology firms, agencies, studios, and consultancies

Retail & Storefronts

Specialty retail, salons, fitness studios

Logistics & Services

Small transportation/logistics operators, local service businesses

If you're not sure whether your business fits a BOP, we'll quickly let you know and suggest the right structure for your coverage.

What we need to get started

To request BOP quotes, it helps to have:

  • Legal business name & entity type (LLC, corporation, etc.)
  • Operating name (DBA)
  • Business address(es)
  • Nature of operations (what you do, typical customers, any special hazards)
  • Revenue and, if applicable, payroll
  • Building details if you own the building (year built, construction type, square footage, protection like sprinklers)
  • Any existing insurance policies (declarations pages) - helps us compare and avoid coverage gaps

Ready to explore BOP options?

Schedule a call with us and we'll follow up with a quick intake form.

Start Your Quote

Frequently Asked Questions

Where can I buy BOP insurance?

You can buy a Business Owners Policy (BOP) directly from insurance companies, through their websites, or via brokers and agents. Latent Insurance is an independent commercial brokerage that sources BOP quotes from multiple carriers and helps you choose the one that fits your industry, location, and budget.

How fast can I get a BOP quote through Latent?

For most straightforward small businesses, we can typically obtain initial BOP quotes within < 5 mins after we receive all required information (locations, operations, revenue, and property details). More complex risks or special coverages may take longer.

What information do I need to provide to get a BOP?

We'll ask for:

  • Your legal business name and DBA
  • Address(es) and what each location is used for
  • Your annual revenue and payroll (if applicable)
  • A description of your operations and any higher-risk activities
  • Building information if you own the premises
  • Copies of current policies (if any) for comparison

We'll guide you through this step-by-step so you're not guessing what underwriters want.

Is a BOP cheaper than buying separate policies?

Often, yes. BOPs are designed as bundled products for small and mid-sized businesses, so carriers typically price them competitively compared to buying separate general liability and property policies. The exact price still depends on your industry, location, claims history, and coverage limits.

Do all businesses qualify for a BOP?

Not always. Some businesses may be:

  • Too large (revenue, payroll, or number of locations)
  • Too high-hazard (certain industries or operations)
  • Ineligible due to past losses or unique exposures

In those cases, a more customized package policy may be a better fit. If that's you, we'll help design and place the right structure rather than forcing a BOP where it doesn't belong.

Can I add additional insureds and get COIs for my landlord or clients?

Yes. Most BOPs allow you to add additional insureds (like landlords, lenders, or key clients) and issue Certificates of Insurance (COIs). Latent handles this as part of our ongoing service - just let us know who needs to be listed and any contract requirements.