If you own a small or mid-sized business in Washington State, a Business Owner's Policy — commonly called a BOP — is one of the smartest and most cost-effective ways to protect what you've built.

A BOP bundles two essential coverages into one policy at a lower combined cost than buying them separately. Here's everything you need to know.

What Is a Business Owner's Policy?

A BOP combines:

1. General Liability Insurance — protects your business if a customer, vendor, or third party is injured or their property is damaged because of your business operations
2. Commercial Property Insurance — protects your business's physical assets: your building (if you own it), equipment, inventory, furniture, and fixtures

Some BOPs also include business interruption insurance, which replaces lost income if a covered event (fire, storm, vandalism) forces you to temporarily close.

What Does a BOP Cover?

General Liability

• Customer slips and falls at your location
• Property damage caused by your business operations
• Advertising injury (libel, slander, copyright infringement)
• Products liability (if a product you sell causes harm)
• Completed operations (claims arising after a job is finished)

Commercial Property

• Fire, smoke, and explosion damage
• Theft and vandalism
• Wind and hail damage
• Water damage from burst pipes
• Equipment and inventory loss

Business Interruption (if included)

• Lost revenue while your business is closed for repairs
• Ongoing expenses like rent, utilities, and payroll
• Temporary relocation costs

What a BOP Does NOT Cover

A BOP is a great foundation, but it doesn't cover everything. You'll likely need separate policies for:

• Commercial auto — vehicles used for business
• Workers' compensation — required by Washington L&I for most employers
• Professional liability (E&O) — if you provide professional advice or services
• Cyber liability — data breaches and cyberattacks
• Flood and earthquake — typically excluded from standard property coverage

Who Qualifies for a BOP in Washington?

BOPs are designed for small to mid-sized businesses. Eligibility criteria vary by insurer, but generally you qualify if:

• You have fewer than 100 employees
• Your annual revenue is under $5 million
• You operate in a low-to-moderate risk industry
• Your business has a physical location (office, retail, warehouse)

Industries commonly eligible for BOPs include:

• Retail stores and boutiques
• Restaurants and cafes
• Contractors and tradespeople
• Professional offices (accountants, consultants, real estate agents)
• Auto repair shops
• Salons and spas

High-risk industries like manufacturing, construction, or transportation may need a more customized commercial package policy instead.

How Much Does a BOP Cost in Washington?

BOP premiums vary widely based on:

• Your industry and the specific risks involved
• The value of your property and equipment
• Your annual revenue
• Your location and claims history
• Coverage limits and deductibles

Small businesses in Washington typically pay between $500 and $3,000 per year for a BOP. As an independent agency, Universal Insurance Services shops your coverage across 20+ carriers to find the best combination of price and protection.

Customize Your BOP with Endorsements

One of the advantages of a BOP is flexibility. You can add endorsements to tailor coverage to your specific business:

• Data breach / cyber liability — for businesses that store customer data
• Equipment breakdown — for businesses that rely on specialized machinery
• Employee dishonesty — covers theft by employees
• Hired and non-owned auto — for employees who use personal vehicles for work

Get a BOP Quote Today

Protecting your business doesn't have to be complicated or expensive. A BOP gives you broad, bundled coverage at a price that makes sense for small business owners.

Call (888) 874-0208 or get a quote online. We serve businesses across all 39 Washington counties.