Business Owners Insurance

Business Owners insurance (also known as a Business Owners Policy, or BOP) protects your business from a variety of risks including accidents, property damage, loss of income and more.

Who Needs Business Owners Insurance?

As an independent contractor, you’re exposed to many risks. Independent contractors need Business Owners Insurance to protect them against unexpected financial loss. An accident caused by you or one of your employees could result in a lawsuit that puts you out of business. Business Owners Insurance could prevent this from happening by providing liability protection. As a contractor, you’re generally required to carry business liability insurance that protects the interests of a property owner or the worksite’s general contractor. provides Business Owners Insurance to all those who are eligible. 

We recommend that you also visit our partner site for a small business liability insurance quote.


Business Owners Insurance for Small Businesses  

A Business Owners Insurance policy offers three main types of coverage for small businesses including:


  • General Liability Insurance - provides protection if you cause bodily injury, property damage, personal injury or advertising injury.

  • Buildings and Business Personal Property Coverage - Provides replacement cost coverage for buildings and most business owners' personal property. Note: Property coverage is optional for contractors.

  • Loss of Income and Extra Expense - When your insured property is damaged, you are protected for loss of business income. We insure your net income and continuing normal operations expenses, including payroll, for up to 12 months - with no preset amount.


Business Owners Insurance for Contractors

Contractors can have slightly different needs than small businesses. Business Owners Policies for contractors include these basic coverages:

  • Contractors Liability - Provides General Liability Insurance if you cause bodily injury, property damage, or personal injury on a job site up to a certain limit.  Example: One of your employees accidentally damages the plumbing in a building and causes water damage.

  • Blanket additional insured coverage - When required by contractual agreements, your liability coverage extends to protect the interests of the property owner during a construction project.

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