Is a business owner’s policy the same as general liability insurance? It’s a common question! The answer is: Not quite.
General liability (GL) is a popular form of commercial insurance. It’s very customizable and offers coverage for a host of common risks to small businesses.
A business owner’s policy includes general liability coverage, but with additional types of coverage, as well. So while your BOP insurance comes with GL, a GL policy alone won’t have all the coverage of a BOP. A small business typically will only have one or the other.
BOP insurance could be considered an enhanced alternative for small business owners seeking general liability coverage, because it includes GL, as well as commercial property insurance and business interruption insurance. Purchasing BOP insurance may even cost less than if you purchased the three types of coverage separately.
*Harborway Insurance policies are underwritten by Spinnaker Insurance Company and reinsured by Munich Re, an A+ (Superior) rated insurance carrier by AM Best. Harborway Insurance is a brand name of Harborway Insurance Agency, LLC, a licensed insurance producer in all 50 states and the District of Columbia. California license #6004217.