A Business Owner's Policy (BOP) simplifies insurance by packaging the key coverages most small businesses need. It typically includes general liability, commercial property, and business income protection in a single, cost-effective policy designed for Florida small to mid-sized operations.
A BOP is the workhorse policy for small businesses with a physical location, valuable equipment, or customer-facing operations. Instead of buying general liability and commercial property separately, you get both at a discounted package rate, often with the option to add business interruption, equipment breakdown, and cyber liability as endorsements.
BOPs are generally designed for small to medium-sized businesses in lower-risk industries with under roughly $5M in revenue or under 100 employees. If your business has a physical location, valuable equipment, or interacts with the public (retail, restaurants, professional offices, service businesses, light contractors), a BOP is usually an excellent fit. Higher-risk operations like heavy manufacturing or large contractors typically need standalone policies instead.
Bundling general liability and property into a BOP typically costs 10% to 20% less than buying the same coverages separately, while adding business income coverage that many small businesses skip when they buy a la carte. For most Tampa small businesses, an entry-level BOP runs $50 to $150 per month. We shop 15+ carriers to find the right balance of price, coverage, and Florida wind/hurricane treatment.
A BOP packages both coverages into a single policy at a discounted rate, plus typically adds business income coverage that's rarely purchased as a standalone. The savings are real (often 10% to 20% versus a la carte) and the simpler renewal cycle means fewer chances for coverage to lapse on one line and not another.
No. Workers' compensation is a separate policy under Florida law (FL Statute 440) and cannot be bundled into a BOP. If you have employees, you'll need workers' comp alongside your BOP. We write both together so they renew at the same time and the carriers coordinate.
Most Florida BOPs include hurricane and named storm coverage with a separate percentage-based deductible (typically 2% to 5% of building or contents value, sometimes applied per location). This is meaningful: a $500,000 building with a 5% hurricane deductible carries a $25,000 out-of-pocket for a named storm claim. We explain the trade-offs and shop carriers with different deductible structures.
BOPs exclude flood, earthquake, professional liability (errors and omissions), workers' compensation, employee dishonesty over standard limits, and most commercial auto exposures. We'll review the gaps and recommend separate policies or endorsements where they're needed.
Yes. Most modern BOP carriers offer cyber liability and Employment Practices Liability (EPLI) as endorsements at a small additional premium. Given the rise of ransomware against small businesses and the increase in wrongful termination/harassment claims in Florida, both are usually worth the cost for any business with employees or stored customer data.
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