Business Owners Policy

Most design firms are eligible for coverage under a business owner policy or BOP. 

BOPs are similar to a homeowners policy in that they offer both property and liability protection in one policy. Office exposures, especially, are a target class for the business owners policy for most insurance companies.

Coverage Highlights

The policy's protection to business personal property applies whether the property is located inside or immediately outside the covered buildings. Business personal property (such as office equipment, copiers, desks, etc.) includes property you own, lease or control as long as the property is used by the business.

You are often required to carry coverages that are unique to you as a design professional.  One such requirement is granting additional insured status to parties involved in the project, including the owner and contractors.  Others include a per project aggregate limit, waivers of subrogation, and no exclusion for projects within 50 feet of a railroad. 

Promark works with companies who understand design professionals and their contracts, projects and requirements.  We place our design clients with insurance companies who offer blanket additional insured status, blanket waivers of subrogation, per project and location aggregate limits and have no exlcusion for work within 50 feet of a railroad.  Higher limits on valuable papers and actual loss sustained business income coverage are other valuable features of our design savvy insurance companies.

These additional coverages and features do not translate into higher premiums.  Rather, they reflect an understanding of the exposures of design professionals and a willingness to properly insure our clients.