Business Owners Policy (BOP) in Lee's Summit MO & Blue Springs MO

A business owner policy, commonly called a BOP, combines property coverage and liability coverage into one insurance package, providing valuable protection for your operations. Bundling the insurance products together is often cheaper than purchasing them individually, and doing this may also offer the added convenience of having the policy information all in one place. 

Morehead Agency can work with your company to build a comprehensive insurance plan to help mitigate these risks. Contact us today for additional information. 

Who Is Eligible for a BOP? 

BOPs are generally designed for small to medium-sized businesses, and there are specific criteria these companies need to meet in order to be eligible to obtain a BOP. Insurers consider the type and class of the business, the size of its primary location and the business’s revenue when determining eligibility. Morehead Agency can help determine whether your business is eligible for a BOP.  

What Does a BOP Cover?  

Several aspects of BOPs are customizable for your individual business’s needs. Standardized BOPs typically offer protections including:  

• General Liability Insurance—This may provide coverage if your business is responsible for property damage or bodily injuries to another party, like a customer or vendor. It may help cover medical expenses and legal fees.
• Commercial Property Insurance—If covered cause of loss such as fire damages your business’s physical property (e.g., your building and its furnishings), this coverage may help pay repair or replacement costs. 
• Business Interruption Insurance—If a covered event necessitates a temporary closure of your business, this coverage may help pay for ongoing costs such as rent, employee wages and taxes while your operations are halted.  

Additional coverages typically can be added as endorsements to your BOP or purchased separately depending. Available options may include:  

• Workers’ compensation insurance 
• Cyber liability insurance 
• Commercial auto insurance 
• Professional liability/errors & omissions insurance 
• Umbrella liability insurance  

The professionals at Morehead Agency can provide more details about the available coverages and further information regarding the policies’ terms, limits, and exclusions. 

How to Get a BOP 

Morehead Agency is ready to work with you to build a comprehensive insurance portfolio that meets your needs and fits within your budget. Contact us today for more information or a quote.