Choosing a Business Owners Insurance structure isn’t one-size-fits-all. At Mason-McBride, we help businesses evaluate and compare policies like Business Owners Policies (BOPs) and Commercial Package Policies (CPPs).
We’ll walk you through your risks and coverage options, so you can make informed choices, whether you’re just getting started or expanding into new territory.
Business Owners Policy vs. Commercial Package Policy
Think of a Commercial Package Policy as a stereo system where you buy each component individually; the receiver, speakers, remote, and other parts are selected separately.
What Is a Business Owners Policy (BOP)?
Business Owners Policies (BOPs), on the other hand, are bundled insurance plans that typically include:
- General liability
- Property insurance
- Business interruption coverage
BOPs can be a useful starting point for businesses seeking a foundational level of protection.
However, companies with more complex risk profiles may not qualify or find the limits too restrictive.
When to Consider a Commercial Package Policy (CPP)
If your business has expanded or taken on additional risk exposures, a Commercial Package Policy (CPP) may be a better fit. CPPs provide flexibility and allow for more tailored coverage options to suit the specific risks of your operations.
When Should You Reevaluate Your Business Coverage?
We recommend reviewing your business insurance at least annually. However, it’s also a good idea to revisit coverage after key events such as:
- Hiring additional employees
- Offering new services or products
- Expanding your physical space or operations
- Purchasing major equipment or assets
Our team is available to walk through these scenarios and help identify whether your current policies remain aligned with your exposures.
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