Business Owners Policy in Massachusetts

WHAT IS IT? WHO NEEDS IT? COVERAGES OFFERED

A Business Owners Policy, often referred to as a “BOP,” provides both property damage and liability coverage specifically designed for smaller businesses. These protections cover offices, apartments, mercantile, service and processing businesses. Some qualifiers that determine a small or medium-sized business are the number of employees, annual gross sales or the square footage of a building.

Some qualifiers that determine a small or medium-sized business are the number of employees, annual gross sales or the square footage of a building.

Property Coverage
Liability Coverage

What is a Business Owners Policy?

What Coverages Do Business Owners Policies Provide?

As mentioned, there are two types of coverage offered by a Business Owners policy; Property Damage and Liability protection.

Property Coverage, protects exposure to a building as well as business property. However, there are over a dozen of additional coverage options that can be added to the property section of the Business Owners policy. The most common add on coverage types are Business Income/Business Interruption Coverage or Equipment Breakdown.

Liability Coverage, is designed to cover expenses resulting from injury at a business or by using a business’ product or service. Coverage is also provided for product liability and medical payments among other protections included.

There are several endorsements that can be purchased to enhance a BOP policy, such as Spoilage, Utility Services, and Hired and Non-Hired Auto coverage among others. There are also Umbrella and Excess Lines policies that can increase coverage of an underlying BOP policy.

Customers Love Us

When I called the staff at Paul T. Murphy Insurance, they explained how auto reform would allow me to increase coverage and save money at the same time. I moved my home and umbrella insurance to my current auto carrier and saved over $350. In July 2008 when my auto insurance renews with Safety Insurance, I will save another $300 just for having my auto and home insurance with the same company. The staff at Paul T Murphy Insurance Agency really understands the new Massachusetts reform and how to pass savings and additional coverage to their clients.

Frank

Winchester, MA
After many years of doing business with the Paul T. Murphy Insurance Agency, I am thrilled to learn of this relationship with Northrup to service the Lynnfield area. I have trusted both my personal and business policies with Paul and have never received less than the best of service. I like the face that they service as professionals but treat you like a friend. Recently during a complicated Workers Comp claim, Paul showed up to walk me through what I thought would be a mess of paperwork and confusion – the personalized service I receive spoke volumes. I have never gotten service like that from anyone else. I also like the fact that they are always ready to save me money without ever compromising my coverage.

Tony Bartolo

Lynnfield, MA
One of the best business and personal decisions I ever made was to collaborate with Paul Murphy Insurance Company for our families insurance needs. Starting with our business policies, then eventually all of our personal policies, we have slowly transitioned all to be managed by PMI. Many companies loosely tout that they treat you as one of the family; PMI proves it in their actions. We are glad we are part of their family.

Kelly Ilebode

Boston, MA

Are Commercial Package Policies and Business Owners Policies Different?

Both commercial package policies and business owners policies provide multiple protections for businesses, but the businesses they’re designed for are different. While BOPs usually provide a sampling of coverages for small businesses, CPPs offer a broader array of coverages that make them a good choice for businesses with more involved insurance needs. CPPs are often purchased by larger businesses and those that are exposed to less common risks.

What Massachusetts Businesses Can Benefit from Getting a BOP?

Every small businesses in Massachusetts can benefit from the protections that a BOP policy provides. While there may be a few small businesses that only require one line of a Commercial policy, most businesses will require multiple coverage types and are better served by the packaged coverage of a BOP. It’s also more affordable purchasing one policy with several lines of coverage, rather than purchase several lines of coverage separately.

How Can Massachusetts Businesses Get a Business Owners Policy?

Business Owners Policies shouldn’t be underestimated just because they’re designed for smaller businesses. These are robust policies that offer a variety of important protections that can be enhanced with endorsements. For help finding the best BOP to fit your business needs, agents can determine whether a BOP or Commercial Package Policy best suits your operations. As an Independent Agency, our agents will have access to multiple quotes from multiple carriers, allowing your business to secure the optimal coverage at the lowest rate available

What is a Business Owners Policy?

What Coverages Do Business Owners Policies Provide?

Get a Free Quote!

TESTIMONIALS

Customers Love Us

Frank

Tony Bartolo

Kelly Ilebode

Do Business Owners Policies Provide Workers Compensation?

Are Commercial Package Policies and Business Owners Policies Different?

What Massachusetts Businesses Can Benefit from Getting a BOP?

How Can Massachusetts Businesses Get a Business Owners Policy?

Get a Free Business Owners Policy Quote!