Business Owners Policy Michigan
Bundle Your Coverage & Save with BOP Insurance
A Business Owners Policy (BOP) is an insurance policy that covers the operations of small- and medium-sized (SMB) Michigan businesses by bundling Commercial Property Insurance (CBP), Business Income Coverage (BIP), and General Liability Insurance (GLI) into one affordable product. This process allows all three coverages to be easily managed in a single form. This combination of coverages provides comprehensive protection for many business risks, making BOPs especially valuable to small and medium-sized businesses. Numerous Michigan-based small and medium-sized businesses take advantage of the affordability and extensive coverage offered by BOPs; however, certain criteria must be met for a business to qualify for coverage under a BOP. These criteria generally include:
- Size and type of business;
- Industry of business; and
- The particular risks that the business faces.
What a Business Owners Policy (BOP) Includes
A BOP combines three essential coverages into a single policy, offering the right protection for many businesses.
- Property insurance
- General liability insurance
- Business interruption insurance
BOP offers additional coverage options to tailor protection to your business’s unique needs.
General Liability Insurance
Protects your business from claims of:
- Bodily injury
- Property damage
- Personal and advertising injury
- Legal defense costs
- Third-party bodily injury
- Customer injuries
General liability coverage provides essential protection against lawsuits and legal expenses from third-party bodily injury, customer injuries, and property damage. It helps your business avoid financial losses arising from these claims.
This is foundational protection for nearly every type of business.
This is foundational protection for nearly every type of business.
Commercial Property Insurance
Covers your business’s physical assets, including:
- Building (if owned)
- Equipment
- Tools and machinery
- Inventory and supplies
- Office furniture and electronics
- Improvements to rented spaces
This keeps your business operational after fire, theft, storm damage, or water damage.
Business Income (Interruption) Coverage
Business income coverage, also known as business interruption insurance, helps replace lost income if your business is forced to close temporarily due to a covered event such as fire or severe storms. This may include:
- Lost revenue
- Payroll continuation
- Temporary relocation expenses
- Overhead and operating costs
- Paying ongoing expenses during the closure
Business Income is one of the most valuable protections in a BOP — especially for Michigan businesses impacted by storms, fire, or power outages.
Who Needs a Business Owners Policy in Michigan?
A Business Owner’s Policy is designed for both small and mid-sized businesses, and it can provide coverage for many different kinds of businesses, including:
- Boutiques & Retail Stores
- Contractors and specialty trades
- Food Service Establishments such as Restaurants, Cafes and Bakeries
- Professional offices (law, accounting, marketing, consulting)
- Medical and wellness practices
- Real estate offices and property managers
- Hair salons, spas, barbers, and beauty services
- Gyms and fitness studios
- Home-based businesses with inventory or equipment
- Light manufacturing and fabrication shops
- Tech startups and creative studios
However, not every business will qualify for a BOP. Eligibility depends on several factors, such as your industry, business size, and specific risk profile.
A Business Owners Policy, also known as a BOP, is usually the most affordable option for businesses with customers, equipment, or real property (commercial property).
A Business Owners Policy, also known as a BOP, is usually the most affordable option for businesses with customers, equipment, or real property (commercial property).
Benefits of a Business Owner's Policy
Cost Savings
Purchasing general liability, property, and business income insurance in a single policy usually costs less than buying each type of insurance separately.
Simplified Coverage
Having one policy, one renewal date, and one insurance company makes managing your insurance less complicated and decreases the chance of coverage gaps.
Broader Protection
The coverage provided by a BOP typically includes benefits that are not included in a general liability or commercial property policy.
Carriers Often Prefer BOP Risks
Many insurance companies offer better rates to businesses that purchase a BOP because it shows responsibility and reduces risk.
Optional BOP Enhancements for Michigan Businesses
A BOP can be customized with additional coverage options depending on your industry and risk exposure.
Cyber Liability
Protects against data breaches, ransomware, phishing, and digital fraud.
Tools and Equipment (Inland Marine)
Essential for contractors and mobile service businesses.
Spoilage Coverage
For businesses with refrigeration or temperature-sensitive inventory.
Umbrella Liability
Adds extra protection beyond the limits of your BOP and other liability policies.
Outdoor Sign Coverage
Protects signage from wind, storm, and collision damage.
Equipment Breakdown
Covers electrical, mechanical, and pressure system failures — important for restaurants, manufacturers, and medical facilities.
Commercial Auto
Covers vehicles used for business operations with commercial auto insurance, which protects business-owned vehicles against damage, theft, vandalism, and weather-related risks.
Employment Practices Liability (EPLI)
Covers claims involving hiring, firing, discrimination, and harassment.
Michigan Property Risks Covered by a BOP
Michigan businesses face unique and common risks, including:
- Freeze–thaw cycles leading to burst pipes
- Snow and ice accumulation
- Wind and hail storms
- Heavy rain and water intrusion
- Theft and vandalism
- Power outages are disrupting operations
A BOP helps protect your business from the most common types of losses and risks faced by Michigan businesses.
How Much Does a Business Owner's Policy Cost in Michigan?
A BOP is typically one of the most affordable commercial policies.
Most Michigan businesses pay:
$600 – $2,500 per year, depending on:
Most Michigan businesses pay:
$600 – $2,500 per year, depending on:
- Industry
- Revenue
- Property value
- Location
- Safety measures
- Claims history
Professional offices are usually on the lower end, while restaurants, retail stores, and contractors fall in the mid-range.
Frequently Asked Questions About BOP Insurance
01. Is a BOP required in Michigan?
No, but many landlords and clients require General Liability, which a BOP includes.
02. Does a BOP include Workers’ Compensation?
No. Workers’ Compensation is purchased separately.
03. Can I add Cyber or Professional Liability to a BOP?
Yes, most carriers offer optional endorsements.
04. Can home-based businesses get a BOP?
Yes, if you have business equipment, inventory, or client interactions.
05. Does a BOP cover my tools or equipment off-site?
Not automatically — Inland Marine covers that.
Service Areas
We provide Business Owners Policies throughout Southeast Michigan, including:
- Howell, MI
- Brighton, MI
- Birmingham, MI
- Bloomfield Hills, MI
- Clarkston, MI
- Farmington, MI
- Farmington Hills, MI
- Fenton, MI
- Northville, MI
- Novi, MI
- Rochester, MI
- Rochester Hills, MI
- Royal Oak, MI
- South Lyon, MI
- Troy, MI
- Wixom, MI
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Disclaimer- Insurance coverage cannot be bound or changed via submission of any online form/application provided on this site or otherwise. No binder, insurance policy, change, addition, and/or deletion to insurance coverage goes into effect unless and until confirmed directly by a licensed agent.
Request a Business Owners Policy (BOP) Quote in Michigan
Take the next step to protect your business—call or email One Source Insurance now for a fast, personalized Michigan BOP quote and secure the coverage you need to keep your company running strong.