A bundled insurance package designed for small and mid-sized businesses that combines general liability, commercial property, and business interruption coverage into a single, cost-effective policy. A BOP is typically cheaper than buying each coverage separately.
Related Terms
Business Interruption Insurance
Coverage that replaces lost income and pays ongoing expenses when a business is temporarily shut down due to a covered event such as a fire, natural disaster, or other insured peril. It helps businesses survive financially until they can resume normal operations.
Commercial General Liability
Insurance that protects businesses against claims of bodily injury, property damage, and personal or advertising injury caused by business operations, products, or events on business premises. CGL is one of the most fundamental coverages for any business.
General Liability Insurance
A broad form of business insurance that covers claims of bodily injury, property damage, and personal injury arising from your business operations or premises. It protects against lawsuits from customers, vendors, or other third parties and is often required by contracts and leases.