Business owner’s policy
BOP insurance for Long Island small businesses
A business owner’s policy bundles property and liability coverage into one package for small, lower-risk businesses. We check whether you qualify and compare the carriers available to us.
What a business owner’s policy is.
A business owner’s policy (BOP) packages the coverages most small businesses need into one policy: property for your building, if you own it, and your equipment, furniture and inventory; general liability for injuries and property damage you cause to others; and, on most BOPs, business income coverage that helps replace lost income while you recover from a covered property loss.
Buying these together is often simpler and less expensive than buying them separately. The tradeoff is that a BOP is built for small to mid-size businesses with fairly predictable risks. Each insurer sets its own eligibility rules based on things like your type of business, revenue, square footage and building size. A cafe or a small office often fits. A roofing contractor usually does not. We check eligibility with the carriers available to us before we quote, so you know where you stand.
A BOP is not everything a business needs. It typically does not include workers compensation, commercial auto or professional liability. If you have employees, see our page on workers compensation. If you don’t qualify for a BOP, standalone commercial general liability and property coverage may be the better fit. We can quote those pieces alongside your BOP.
Who it’s for
Businesses a BOP often fits.
Retail shops
Boutiques, gift shops, hardware stores and other storefronts that need coverage for inventory, fixtures and customers walking through the door.
Cafes, bakeries and delis
Smaller food businesses with counter service. Eligibility depends on the insurer and often on things like cooking methods and seating.
Professional offices
Accountants, insurance and real estate offices, consultants and similar businesses with computers, furniture and visiting clients.
Salons and personal services
Hair and nail salons, barbershops and similar businesses, often with endorsements for the professional side of the work.
Building owners
Owners of small commercial or mixed-use buildings who lease space to tenants, if the insurer writes that kind of building.
Light service trades
Some lower-risk contractors and service businesses may qualify, depending on the insurer and the type of work.
What’s covered
What a BOP usually covers.
Every insurer’s BOP form is a little different. These are the coverages most include, plus endorsements that are commonly available. Your policy documents control what is covered.
- Building
- Covers the structure if you own it, against covered causes of loss like fire, wind and theft. Tenants may need coverage for improvements they made instead.
- Business personal property
- Covers your equipment, furniture, computers, inventory and supplies at your location.
- General liability
- Covers claims that your business caused bodily injury or property damage to others, plus personal and advertising injury.
- Business income and extra expense
- Helps replace lost income and pay extra costs to keep operating after a covered property loss forces you to close or slow down.
- Equipment breakdown
- An endorsement many insurers offer for sudden mechanical or electrical breakdown of things like refrigeration, HVAC and computers.
- Data breach
- An endorsement some insurers offer to help with notification and response costs if customer information is exposed. Limits are usually modest.
- Hired and non-owned auto
- An endorsement some insurers offer for liability when you or employees use rented or personal vehicles for business errands. It is not a substitute for commercial auto.
- Other common endorsements
- Food spoilage, employee dishonesty, outdoor signs and utility service interruption may be available, depending on the insurer.
New York & Long Island
BOP insurance on Long Island: what to watch for.
Many BOPs written for Long Island businesses start with a lease. A landlord in a Babylon strip center or a Huntington village storefront will usually ask for liability limits, additional insured status and a certificate. We make sure your BOP includes the wording your lease calls for.
Flood and earthquake are generally excluded from a BOP. For businesses near the water on the South Shore, in low-lying parts of Brookhaven or out toward Riverhead, flood coverage usually has to be bought separately, and we can talk through whether it makes sense. Wind and hurricane deductibles may also apply on Long Island, depending on the insurer.
- Check that building and contents limits reflect current replacement cost
- Confirm whether business income coverage is included and for how long
- Ask about separate flood coverage if you are in or near a flood zone
- Review the wind or hurricane deductible before storm season
How it works
Getting covered with All Suffolk Brokerage.
- Tell us about your business
What you do, your location, square footage, revenue, number of employees and the value of your equipment and inventory.
- We check eligibility
BOP rules vary by insurer. We find out which carriers available to us will write your type of business.
- Compare quotes and endorsements
We lay out the quotes side by side, including limits, deductibles and which endorsements each one offers.
- Bind and send certificates
Once you choose, we bind the policy and send certificates to your landlord or anyone else who needs one.
What does a BOP cover?
A BOP typically combines property coverage for your building and business personal property, general liability for injuries and damage you cause to others, and, on most forms, business income coverage. Insurers also offer endorsements such as equipment breakdown, data breach and hired and non-owned auto. Exactly what is included depends on the insurer and the policy you choose.
Does a BOP include workers compensation?
No. A BOP does not include workers compensation, and New York requires most employers to carry it as a separate policy. A BOP also does not include commercial auto or professional liability. We can quote those alongside your BOP so the pieces fit together.
Who qualifies for a business owner’s policy?
BOPs are designed for small to mid-size businesses with lower, more predictable risks, such as retail shops, offices and some restaurants. Each insurer sets its own rules for business type, revenue, building size and square footage. If you do not qualify, separate general liability and property policies can provide similar protection.
How much does BOP insurance cost on Long Island?
It depends on your type of business, location, building construction, property values, revenue, claims history and the limits and deductibles you choose. Two similar-looking businesses can get different prices from the same insurer. We compare the carriers available to us and explain what drives your premium.
Does a BOP cover flood damage?
Generally, no. Most BOPs exclude flood. Businesses in flood-prone parts of Long Island usually need a separate flood policy, which may be available through the National Flood Insurance Program or a private insurer. We can review your location and talk through options.
Is a BOP the same as general liability insurance?
No. General liability is one part of a BOP. A BOP adds property and usually business income coverage. If you do not own much property, or you do not fit BOP eligibility, standalone general liability may be the better choice.
Get a business owner’s policy quote from a local broker.
Tell us what you need covered. We’ll compare what’s available to you, explain how the options differ, and take care of the paperwork.