Jonas-Meeke Insurance – A Division of JMI

Jonas-Meeke Insurance Services Business Owner's Policy
Business Owner's Policy | Jonas-Meeke Insurance

Business Owner’s Policy

General Liability • Commercial Property

A business owner’s policy (BOP) is a package that protects your business from all major liability and property risks under one policy. Each of these policies can also be sold separately. However, combining them into one convenient policy can help you save money and protect your business from a broader range of risks. Jonas-Meeke Insurance can even customize your BOP so you pay for the coverage you need, and nothing you don’t. We’ll help determine which policy is right for you by considering aspects of your business such as your industry, business size, location, number of employees and more.

Who Needs a BOP?

Not all business qualify for business owner’s policies. BOPs are designed for small to mid size companies that meet the following eligibility requirements:

  • Operate out of a physical location
  • Employ fewer than 100 people
  • Make at least $1 million in annual sales
  • Own assets (digital or physical) that could be lost, damaged or stolen
  • Work in an industry with risks of lawsuits (offices, restaurants, retailers, wholesalers, etc.)

What's Covered?

General Liability

Protects your business against lawsuits over personal injury or property damaged caused as a result of normal business operations such as faulty products, workplace hazards (like slip and fall injuries), service errors/damage, etc. General liability insurance can also cover defense fees even if your business did nothing wrong but was accused of any of the above.

Commercial Property

Protects property you own, rent or lease as well as any property in your business’ possession from theft, fire, vandalism and some weather incidents. Commercial property insurance also covers payroll and up to 6 months of lost revenue if your business is forced to close after a qualifying event.

Additional Coverage Options

Most BOPs cover only specific incidents. Some insurance companies offer “all-risk” coverage as a special type of business owner’s insurance. However, you may be able to add coverage to your standard BOP – like cyber liability insurance or professional liability insurance – depending on your industry.