Business Owners Policy (BOP) in New York

What Is a Business Owners Policy (BOP)?

A Business Owners Policy (BOP) typically combines general liability, commercial property, and business interruption protection. The actual policy determines covered losses, limits, deductibles, and exclusions:

• General liability insurance — may cover third-party bodily injury, property damage, and advertising injury claims, subject to the actual policy terms and exclusions.
• Commercial property insurance — may cover business property such as equipment, inventory, furniture, and signage against specified causes of loss, subject to the actual policy terms and exclusions.
• Business interruption insurance — may help with lost income and continuing expenses when a covered event interrupts operations, subject to the actual policy terms and exclusions.

A BOP may cost less than comparable separate policies, but savings and eligibility are not guaranteed. The NAIC small business insurance guide describes common coverage categories. Compare actual quotes for the same protection, limits, deductibles, exclusions, and covered-loss conditions before choosing a policy; the actual policy terms control.

Many BOPs also include or offer optional add-ons for equipment breakdown coverage, data breach liability, hired and non-owned auto, and business crime coverage — making them an even more comprehensive package.

What a BOP Covers — and What It Does Not

Included in a Standard BOP

• Property damage to your business space — fire, smoke, windstorm, hail, lightning, explosion, vandalism, and theft of business property
• General liability claims — customer slip-and-fall injuries, damage you cause to someone else’s property, advertising injury (defamation, copyright infringement in ads)
• Business interruption / loss of income — covers your lost revenue and ongoing fixed expenses while you’re unable to operate due to a covered event
• Equipment breakdown — many BOPs include coverage for HVAC systems, refrigeration, electrical panels, and commercial equipment failure
• Products liability — if a product you sell or manufacture injures a customer

NOT Covered by a BOP

• Workers compensation — required separately for any business with employees in New York (learn about workers comp requirements)
• Commercial auto insurance — any vehicle used for business needs its own commercial auto policy
• Professional liability (E&O) — errors and omissions coverage for professional advice or services must be purchased separately
• Employee injuries — covered by workers compensation, not general liability
• Flood and earthquake damage — typically excluded and must be purchased as standalone policies
• Cyber liability — some BOPs offer this as an add-on, but it’s not standard

Why Use an Independent Broker for Your BOP?

Carrier quotes can differ for the same business. Ask an independent insurance broker to compare available policies for coverages, limits, exclusions, deductibles, and total cost.

At K&N Insurance Brokerage, we also help you:

• Choose the right liability limits — $1M per occurrence / $2M aggregate is standard, but some landlords and contracts require higher
• Add the right endorsements — cyber liability, hired and non-owned auto, employee dishonesty, and other add-ons based on your actual risk
• Bundle with other commercial lines — package your BOP with workers comp, commercial auto, and umbrella while comparing each policy’s coverage and total premium
• Handle certificates of insurance (COIs) — we issue COIs same-day when your landlord, client, or general contractor needs proof of coverage

Frequently Asked Questions

What does a Business Owners Policy (BOP) cover?

A BOP typically combines general liability, commercial property, and business interruption protection. What it covers depends on the actual policy’s covered-loss conditions, limits, deductibles, and exclusions. Compare those terms with separate-policy quotes before choosing coverage.

How much does a BOP cost in New York?

There is no single BOP price for every New York business. Compare actual quotes for your business, requested coverage, limits, deductibles, exclusions, and total premium. See New York commercial insurance for other coverage options.

Is a BOP cheaper than buying general liability and property insurance separately?

A BOP may cost less than comparable separate policies, but savings are not guaranteed. Compare actual quotes for the same protection, limits, deductibles, exclusions, and total premium.

Does a BOP include workers compensation?

No. Workers compensation must be purchased as a separate policy. In New York, workers comp is required by law for every employer — even those with only one part-time employee. K&N Insurance Brokerage can bundle your BOP and workers comp together for convenience, though they remain separate policies.

Can a restaurant get a BOP?

Yes — restaurants are one of the most common business types covered by a BOP. Your BOP would cover your kitchen equipment, dining furniture, signage, and inventory, plus general liability for customer injuries. You’d still need workers comp, commercial auto (for delivery vehicles), and potentially liquor liability separately. See our restaurant insurance in Queens page for more.

How do I get a BOP quote?

Call K&N Insurance Brokerage at (718) 739-9090 (Queens) or (631) 646-9090 (Huntington). We’ll ask about your business type, revenue, square footage, and number of employees, then review available BOP options. Most quotes take 10-15 minutes. You can also start a quote online.