BOP Insurance

For Provo & Utah County, Utah

Small businesses often start with nothing, and over the years you will have to work hard to build it into a successful enterprise. Therefore, every small business needs comprehensive business insurance that will not break the bank. That is why at ISU-Wiseman Insurance, we are committed to finding insurance solutions for small and medium-sized businesses that do not pinch coverage just to offer savings.

One of the easiest ways that smaller businesses to get effective coverage for multiple assets and liabilities is by buying business owners policies (BOPs). The right BOP will help your business receive essential coverage in one place and without the cost burdens of policies designed for larger operations.

Am I eligible for a BOP?

Usually, smaller businesses that operate in lower-risk industries and that have lower payrolls are most likely to benefit from a BOP. ISU-Wiseman's dedicated commercial agents will work closely with you to evaluate your specific coverage needs and figure out if this coverage is your best fit.

Common Business Insurance Questions

What is a business owners policy?

Business owners policies are packages of commercial insurance that are designed with the needs of small and medium-sized businesses in mind. These policies offer several essential pieces of business insurance in one place and for one price. However, business owners always have the benefit of being able to adjust their BOP to make it fit effortlessly into their operational structure.

Who needs a business owners policy?

You never know when a damaging accident might occur in your busines, and you do not want to lack the financial reserves to start anew. BOPs offer essential financial protection in case of unexpected or unavoidable accidents in your business. They can end a lot of insecurity for anyone who values stability in their commercial endeavors.

What does a business owners policy cover?

Most BOPs offer three primary types of coverage:

Property Insurance: Coverage can insure your business property and possessions in case of damage from fires, vandalism, theft, severe weather or other hazards.
General Liability Insurance: The business’s mistakes or negligence could harm someone else, such as a customer. This coverage can supply repayment for their injuries or property damage.

Business Interruption Insurance: Coverage will pay for lost income and other overhead costs that arise following a temporary halt in operations caused by a covered event.

You also have ways to increase your BOP’s scope by adding in other coverage options, such as:

Special Property Coverage
Products and Completed Operations Coverage
Accidental Medical Payments Coverage

Fire Legal Liability Coverage
Personal Property Protection
On-Site Equipment Insurance
Coverage for Inventory Loss
Crime Insurance

Cyber Liability Insurance
Errors & Omissions Coverage
Equipment Breakdown Coverage

How much does a business owners policy cost?

Most BOPs are very affordable, and they usually cost around $1,000 per year on average. However, the size of your business, your net worth, location, chosen coverage limits and deductibles, along with many other factors can influence your costs. Still, never fear, your Wiseman agent is happy to work with you to find you an optimized price for the coverage you need.