BUSINESS OWNERS POLICY
Business Owners Policy bundles property and liability for small businesses.
A Business Owners Policy combines commercial property and general liability into a single policy. For most small businesses with a physical location or business property, a business package policy is the most cost-effective way to get the basics in place.
What it covers
What a business package policy includes.
What it covers
Commercial property
Building coverage if you own the building, plus business personal property, inventory, equipment, and improvements you have made to a leased space. Replacement cost coverage is the default.
What it covers
General liability
Pays when your business operations cause bodily injury or property damage to a third party, including incidents at your location, off-site work, and product or completed-operations claims.
What it covers
Business income and extra expense
If a covered property loss interrupts your operations, this pays lost net income and continuing expenses while you rebuild, plus reasonable extra expense to keep operating during the interruption.
What it covers
Common endorsements that matter
Most business package policies can add cyber liability, employment practices liability, hired and non-owned auto, equipment breakdown, and data restoration. These are often the gaps that turn into denied claims.
Where policies have edges
What a business package policy does not cover.
Not covered
Workers compensation
business package policies do not include workers compensation. Almost every state requires workers comp for businesses with employees. workers comp is a separate policy.
Not covered
Commercial auto
Vehicles owned by the business need a commercial auto policy. A business package policy can include hired and non-owned auto for occasional rentals or employee personal vehicle use, but not owned vehicles.
Not covered
Professional liability
Errors and omissions claims arising from professional advice or services are excluded under general liability. Professional services need a separate professional liability policy.
Not covered
High-revenue or high-risk operations
Carriers cap business package policy eligibility by revenue, square footage, and class code. Larger operations and certain industries do not qualify and need separate property and liability placements instead.
Who needs this
Who needs Business Owners Policy.
Any small business with a physical location, business property, or public-facing operations. Retail, professional offices, contractors, and service businesses typically benefit from a business package policy. Larger or higher-risk operations may need separate property and liability policies instead.
What it costs
What you can expect to pay.
Varies by industry, revenue, location, property values, and claims history. Most small businesses pay between $500 and $3,500 per year for a typical business package policy.
If You Need to File a Claim
Claims tips
business package policy claims usually start with property damage, a customer injury, or a business interruption. The path is similar across all three.
- Make the property safe and prevent further damage. Stop ongoing damage where you can: shut off water, secure the location, board windows. Most policies require you to mitigate further loss.
- Notify the carrier promptly. Property and liability claims both have prompt notice requirements. Get a claim number and adjuster contact in writing.
- Document everything before cleanup. Photos and video of damage, inventory affected, and the condition of the location. For liability claims, photograph the scene of the incident before anything is moved or repaired.
- Preserve all evidence. Keep damaged inventory, broken equipment, and any object involved in a liability incident until the adjuster releases them.
- Track business income loss with documentation. Business interruption claims require pre-loss financials, post-loss revenue, and a clear connection between the property loss and the income loss. Save monthly profit and loss statements and bank deposits.
- Do not discuss liability fault on the record. If a customer is injured, document the incident factually but do not admit fault, apologize, or speculate about cause to anyone other than your carrier.
OUR CARRIER PANEL
Carriers We Work With
The carriers we compare are licensed and regulated in your state. We shop these markets and present the options that match your situation; a licensed advisor reviews the fit with you in a free coverage review.
Chubb Commercial Insurance
Mid-market and specialty commercial insurance for established businesses above $5M revenue.
Learn moreCNA Commercial Insurance
Mid-market commercial package, professional liability, and workers comp for businesses above $1M revenue.
Learn moreBerkley Aspire Insurance
Excess and surplus lines commercial insurance for hard-to-place Georgia business risks.
Learn moreForge Insurance
Tech-enabled small business coverage for digital businesses, online retailers, and consultants.
Learn moreHanover Commercial Insurance
Small and mid-market commercial insurance through independent agents.
Learn moreLiberty Mutual Commercial
Multi-line commercial insurance for small to mid-market businesses. business owners policy, workers comp, commercial auto, and cyber from a
Learn moreNationwide Commercial Insurance
Nationwide Commercial brings Fortune 100 financial strength to small businesses and farm operations. An honest review of their commercial ca
Learn moreNext Insurance
Tech-driven small business commercial insurance for tradespeople, independent contractors, and service businesses with fast online underwrit
Learn morePhiladelphia Insurance Companies
Specialty commercial insurance for nonprofits, religious institutions, habitational, and specialty commercial property.
Learn moreThe Hartford Commercial Insurance
The Hartford's Spectrum business owners policy is one of the broadest small business policies available. An honest review of their commercia
Learn moreTravelers Commercial Insurance
Travelers is one of commercial carriers reviewed by Olive Cover. business owners policy, general liability, workers comp, c
Learn moreGEORGIA · STATE NOTES
Georgia: workers comp mandatory at 3+ employees, surplus lines tax 4%
Georgia small business owners have a few specific regulatory thresholds that affect how a business owners policy is structured. Workers compensation is mandatory for any Georgia business with three or more employees, including part-time workers. This is a lower threshold than some states and catches many small businesses by surprise. A business owners policy typically does not include workers compensation; it’s placed separately through Hartford, Pie, Employers, or a specialty workers compensation market.
Georgia’s surplus lines tax is 4 percent on non-admitted commercial placements. When your business owners policy or liability has to go to a surplus-lines market (Berkley Aspire, RT Specialty, specialty brokers) because admitted carriers decline, this tax is in addition to the premium and is disclosed at binding.
Georgia does not have a state-specific business owners policy endorsement requirement. Most admitted carriers write standard-form business owners policies that are consistent with other states. Georgia does regulate rates through prior-approval filings, which means carriers cannot change rates mid-term without regulatory approval.
For Georgia small business, Hartford’s Spectrum business package, Travelers Commercial, and Hanover are our three most common admitted placements. Hartford and Hanover often win on coverage breadth; Travelers wins on strength-of-carrier and claims service for larger accounts. For high-hazard trades (roofing, demolition) and habitational, we go to surplus lines with Berkley Aspire.
Georgia business owners with significant asset exposure should also consider commercial umbrella above primary general liability limits. Atlanta-area commercial liability awards have regularly exceeded $1M for slip-and-fall and customer injury claims.
- Workers comp mandatory at 3+ employees (including part-time)
- Surplus lines tax: 4% on non-admitted placements
- Prior-approval rate filing state
If you have a claim in Georgia
Your insurer must acknowledge a claim within 15 days and decide it within 30 days.
Your rights as a Georgia business owners policyholder during a claimGeorgia business owners policy claims follow the standard Unfair Claims Settlement Practices Act timelines (O.C.G.A. Section 33-6-30 to 37): 15-day acknowledgment, 15 to 30 day decision after proof of loss, written denial. Both property and liability components of a business owners policy follow these rules.Business interruption. BI claims require documented financial records (sales history, payroll, fixed expenses) to establish loss of income. Most carriers will request 12 to 24 months of pre-loss financials. Start gathering these immediately.Liability claims. The carrier owes you a duty to defend even if liability is contested. They control the defense; you cooperate. Settlements over policy limits trigger excess and umbrella exposure.Bad faith remedy. Under O.C.G.A. Section 33-4-6, if a carrier refuses to pay a covered claim, you may make a written demand for payment. If they fail to pay within 60 days and a court later finds the refusal was in bad faith, the carrier owes a penalty of up to 50 percent of the claim plus reasonable attorney’s fees.How to escalate. File a complaint with the Georgia Office of the Commissioner of Insurance and Safety Fire if you cannot resolve a dispute with your carrier.What an independent agent adds. We help you assemble business interruption documentation, coordinate property and liability adjusters when both apply, and follow up on stalled files.
Georgia Department of Insurance: (800) 656-2298 · File a complaint
Common Business Owners Policy Questions
If you only carry general liability, you may still have major gaps, because general liability covers just one slice of business risk. A business owners policy, often called…
Full answerA business package policy, commonly called a business owners policy or BOP, is designed mainly for small to medium-sized businesses with relatively low to moderate risk. It bundles…
Full answerNo. A business package policy, also called a business owners policy or BOP, does not cover your employees getting hurt at work. That is a common and risky…
Full answerA Business Owners Policy, or BOP, is a good fit for most small and mid-sized Georgia businesses that have a physical location, own property or equipment, and face…
Full answerA Georgia business package policy, commonly called a BOP, bundles property and liability coverage into one convenient policy for small and mid-size businesses. It includes the core protections…
Full answer
Explore Business Owners Policy facts and statistics, each cited to a government or research source →
Common Questions
Business Owners Policy: frequently asked questions
What size business is a business package policy designed for?
Business package policies are built for small to mid-size businesses, typically under $5M in revenue and fewer than 100 employees.
Do I need a business package policy if I already have general liability?
A business package policy combines general liability and commercial property into one policy, usually at a lower cost than buying each separately.
Does a business package policy cover employees getting hurt at work?
No. Employee injuries are covered under workers compensation, which is a separate policy.
Which Georgia businesses need a Business Owners Policy?
Any Georgia business with a physical location, equipment, or inventory needs a business package policy as a starting point.
What exactly does a Georgia business package policy include and what does it leave out?
A business package policy typically covers $1M per occurrence general liability, your business property at replacement cost, and 12 months of business interruption.