How this estimate works
A business owner's policy (BOP) bundles general liability and commercial property insurance, usually for less than buying them separately. Insureon reports that small businesses pay a median of $83 a month, about $990 a year, for a BOP, with annual premiums ranging from around $400 to over $6,000. Insureon's figures are medians of policies its small business customers bought from leading insurers; most of those customers have fewer than five employees, revenue from under $50,000 to over $200,000 and five years or less in business.
The calculator multiplies the annual median by your industry's median relative to the overall median and, for the ten states Insureon lists, by the state's median relative to the national figure.
What is included
- General liability, most often with $1 million per occurrence and $2 million aggregate limits (79% of Insureon customers)
- Commercial property for your building, equipment and inventory
- A typical deductible of $500
Limitations
The value of your property, your revenue, the number of employees, location within the state and claims history drive the real price. BOPs are generally for small, lower-risk businesses; others may need a commercial package policy. Workers' compensation, commercial auto and professional liability are separate policies.
This is an indicative estimate, not an offer of insurance. Policies are issued by licensed insurers and placed through licensed producers in your state. Compare real offers by requesting a quote.