What type of policy is a Business Owners Policy (BOP)?

A Business Owners Policy (BOP) is indeed considered a self-contained type of policy. This means it combines multiple coverages into a single, convenient package specifically designed for small to medium-sized businesses. A BOP typically includes essential coverage such as property insurance, liability insurance, and business interruption insurance, among others, tailored for the unique needs of businesses.

The self-contained nature of a BOP allows business owners to obtain comprehensive insurance protection without needing to purchase separate policies for each type of coverage. This can simplify the insurance process and often results in cost savings. The features of a BOP are predefined, making it easier for business owners to understand and choose the necessary protections for their operations in a cohesive manner. This structure clearly differentiates it from other policy types that may require more customization or modularity.