What's in a BOP
A Business Owners Policy (BOP) is a pre-packaged policy designed for small to mid-size businesses that combines:
- General liability Third-party bodily injury, property damage, personal & advertising injury, and defense costs.
- Commercial property Your building (if owned), business personal property, inventory, equipment, and improvements.
- Business income / extra expense Lost income and additional costs if a covered loss forces you to suspend operations.
Most BOPs in Oklahoma can be customized with additional coverages — equipment breakdown, cyber liability, employment practices, hired/non-owned auto, and more — added as endorsements to the same policy.
Who qualifies for a BOP
BOPs are designed for smaller, lower-risk businesses. Each carrier has its own eligibility rules, but typical qualifications include:
- Revenue under $5-10 million (varies by carrier)
- Fewer than 100 employees
- Building size under 25,000-35,000 square feet
- Lower-risk class codes (retail, office, light services, restaurants)
- Limited exposure to specific high-hazard activities
Higher-revenue businesses, manufacturers, contractors with significant operations, or businesses with specialized risks typically need a commercial package policy instead — which we also write.
Common Oklahoma BOP add-ons
- Equipment breakdown — HVAC, refrigeration, computers, machinery failure from internal causes
- Cyber liability — data breach response, ransomware, social engineering fraud
- Employment practices liability (EPLI) — wrongful termination, discrimination, harassment claims
- Hired/non-owned auto — when employees drive personal vehicles for business
- Wind/hail buy-down — lower deductibles for Oklahoma's main weather risk
- Outdoor signage — exterior signs that don't sit comfortably under property coverage
- Spoilage coverage — for restaurants and food service after power loss
- Liquor liability — for businesses selling or serving alcohol
Why bundle? Beyond the discount (typically 10-20% off buying separately), a single policy means a single carrier, single renewal date, single claim point of contact, and fewer gaps where one policy ends and another begins.
What's typically not in a BOP
A BOP is broad but not unlimited. Things you'll usually need separately:
- Workers' compensation — separate Oklahoma requirement
- Commercial auto — for owned business vehicles
- Professional liability — for service businesses making professional judgments
- Flood — separate policy through NFIP or private carrier
- Earthquake — usually an endorsement, sometimes separate
- Directors & Officers — for nonprofits and corporations
- Surety bonds — required for certain contractors and license holders
Pricing factors
BOP premium depends on:
- Industry class code and operations
- Annual revenue and payroll
- Building value (if owned) and contents value
- Location (Oklahoma weather is a factor)
- Claims history
- Construction type and protection class
- Number of employees
- Selected limits and deductibles
A typical Oklahoma small-business BOP runs $700-$3,500 annually for $1M/$2M GL plus $250K-$500K of property coverage, depending on industry. We shop multiple carriers to find the right structure.
BOP insurance for professional services firms
Accountants, consultants, real estate offices, marketing agencies, engineers and other professional services firms are often a good fit for a business owners policy: they have an office, computers and furniture to insure, low customer foot traffic and modest liability exposure. The catch is that a BOP does not cover professional mistakes. A missed deadline, bad advice or an error in your work is a professional liability claim, not general liability. Most professional services firms in Oklahoma pair a BOP with professional liability (errors and omissions) insurance, and many add cyber coverage if they store client data. We write both for firms in Edmond, Oklahoma City and statewide.
