Offering coverage for most major property and liability risks in a single package, business owners policies (BOPs) are specially designed insurance solutions for small and medium-sized businesses. BOPs offer the advantage of only having one policy to review and can be more cost effective than purchasing separate policies, according to the Insurance Information Institute (Triple-I). As these policies are made for small and medium businesses, the type of business can impact eligibility. Triple-I reported some businesses, such as restaurants, might be ineligible for BOPs because of the inherent risks in the sector. Typically, businesses make good candidates for these policies if they have 100 or fewer employees and revenues up to around $5 million, according to the institute. Coverages that BOPs typically provide include property insurance for buildings and contents, business interruption coverage and liability protection. Triple-I reported BOPs don't cover professional liability, auto, workers' comp or health and disability insurance, all of which require separate policies. Further, these policies typically have lower limits. Further, small businesses often face unique risks and could need additional coverage for risks from cyberattacks, active assailants and employee practices. The above slideshow details AdvisorSmith's highest-rated BOP insurance companies based on financial strength, customer satisfaction and ease of use. Join our LinkedIn group, ALM's Small Business Adviser, a space where small-business owners can gather to network, have discussions and keep up with the trends and issues affecting their industries. Related: |

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