Business Owners Property Insurance The most common insurance policy for small businesses is the Business Owners Policy.* You’ve worked hard to build your business and you likely hold a lot of assets in it. Take the right precaution to secure it from devastating unexpected events. Also known as a BOP, a Business Owners Policy safeguards your small business from a number of risks. A BOP is a necessity for all small businesses in order to protect against unexpected financial losses that go beyond general liability claims.We often containing several coverages, such as property, general liability, and workers’ compensation insurance, additional BOP coverages could include additional coverage depending on your specific needs or business size. A customized BOP policy could also include identity theft, business income, professional liability, electronic data equipment, and more.*“10 Things to Know About Small Businesses.” Insurance Journal. January 2015.