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 liabilityThird-party bodily injury, property damage, personal & advertising injury, and defense costs.
- Commercial propertyYour building (if owned), business personal property, inventory, equipment, and improvements.
- Business income / extra expenseLost 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.
