noun · also: BOP
business owners policy
In plain English
A pre-packaged commercial policy bundling general liability and commercial property for small businesses.
Designed for businesses under a certain size threshold (varies by carrier). Cheaper than buying GL and property separately, with less customization. Common add-ons: HNOA, EPLI, cyber, professional liability.
What it covers
Property (building if owned, business personal property, business income), liability (premises and ops, products/CompOps, personal/advertising injury), and a bundle of bundled extensions (forgery, accounts receivable, valuable papers, etc.).
What it does not cover
It does NOT cover workers comp (separate policy), commercial auto (separate), professional services, or pollution. It also has tighter eligibility — manufacturers, restaurants over a size threshold, and some other classes need a custom commercial package.
Where it trips people up
BOPs often include some property extensions that look generous but have low sublimits. Pay attention to limits on outdoor signs, valuable papers, employee dishonesty — they're easy to outgrow.
The technical version
An ISO BOP form or carrier proprietary form bundling commercial property and general liability with several included extensions, designed for small to mid-size eligible classes of business.