Get A Quote For Delaware Business Owers Policy (BOP) Insurance
Delaware business owners insurance, commonly referred to as BOP insurance, is a comprehensive policy that merges property and liability coverage into a single package. This insurance is widely favored by small and medium-sized Delaware businesses, including restaurants, wholesalers, retail stores, and contractors.
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A Delaware business owners policy has two primary coverages:
Liability
The liability coverages available on a Delaware BOP are the same as those on a general liability policy. This includes protection against liabilities like customer injury and property damage, advertising injury and product-related claims.
A BOP doesn’t cover your employees. You’ll need a separate workers’ compensation policy.
Property
This coverage protects Delaware commercial buildings and business personal property, which is the movable property owned by and used for the business. It can also pay for other things like debris removal, loss of income and pollution cleanup as part of a covered loss.
A Delaware BOP policy, like most other policies, has certain coverage exclusions that you should be aware of. If you need protection for something that isn’t covered, policy endorsements might be available to extend coverage.
For example, damage from earthquakes is typically excluded from a BOP. If you live in an area prone to earthquakes, you might consider adding an endorsement to your policy to increase coverage. Ask about endorsement options when getting your quote.
Common questions about business owners policies
Who needs a Delaware business owners policy?
Small to medium-sized businesses in Delaware that own or rent workspace should consider a BOP, which includes general liability and commercial property insurance. Together, this combination protects your business from accidents, lawsuits, theft, and more.
Contractors, wholesalers, offices, restaurants, and retailers are some examples of businesses that could benefit from a BOP.
What does a Delaware business owners policy cover?
A Delaware business owners policy covers liability and commercial property claims. Liability coverage includes customer injury, damage to other people’s property, and advertising injury. Commercial property insurance protects your commercial building and its contents.
A Delaware BOP also provides business interruption coverage to help you recover from financial losses that result from unexpected disruptions to your business operations.
What's the difference between a business owners policy and general liability coverage?
A Delaware business owners policy combines general liability and property insurance into one easy-to-manage policy. General liability protects your business from third-party liability claims, including bodily injury, property damage, and personal injury. There's no need for an additional general liability insurance policy if you have a BOP.
What is business personal property?
Business personal property is moveable property that your business owns and uses, such as furniture, machinery, inventory, and electronics. It’s covered by a business owners policy.
Does a Delaware business owners policy cover rented business property?
Delaware BOPs typically provide coverage for leased or rented buildings. You can increase this coverage to include a variety of perils.
Is it possible to add coverage to a business owners policy?
You can add coverage to a Delaware BOP through amendments to your insurance policy called endorsements. Common endorsements include cyber liability, food contamination, equipment breakdown, tools and equipment, and more.
Can a Delaware business owners policy help pay for damage from natural disasters?
In many cases, yes. Commercial property coverage through a Delaware BOP typically covers many natural disasters, including hail, lightning, wind, hurricanes, and tornadoes. However, a Delaware BOP often excludes other disasters, like earthquakes and floods.
Your coverage can vary based on specific policy terms, endorsements, or other modifications. Learn more about how property coverage on a BOP can protect you from various business hazards.