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Chicago Business Owner's Policy (BOP)

Chicago small business storefront representing BOP coverage
The Ultimate Small Business Bundle

The "Happy Meal" of Business Insurance

Combine General Liability, Property, and Income Protection into one policy for up to 20% savings. Cheaper, faster, and bundled—but only if you qualify.

Understanding the BOP

Do You Qualify?

BOPs are designed for "low-risk" businesses—think coffee shops, accounting offices, boutique retailers, and professional service firms. The premium savings come from predictable risk profiles.

High-risk trades like roofers, manufacturers, or contractors typically don't qualify. If your business involves significant liability exposure, we'll build you a custom Commercial Package Policy (CPP) instead.

BOP "All-in-One" Essentials

  • General Liability (Slip & Fall)
  • Commercial Property (Inventory/Build-out)
  • Business Interruption (Income Replacement)
  • Crime/Employee Dishonesty
  • Equipment Breakdown
  • Spoilage Coverage (Optional for Food)
Get Your BOP Quote

Why Bundle Your Coverage?

Cost Efficiency

By bundling GL and Property, carriers offer a "package credit" that makes a BOP significantly cheaper than buying each policy separately. Most small businesses save 15-20% compared to standalone policies—without sacrificing coverage.

Business Interruption

The Chicago Safety Net: If a fire (or a neighbor's fire) shuts you down, this coverage pays your Net Income + Payroll for up to 12 months. Your bills don't stop when your doors close—this coverage keeps you afloat.

Civil Authority Coverage

Critical for Chicago: If the City closes your street due to a riot, gas leak, or emergency nearby, this coverage pays your lost income even if your building isn't damaged. Essential protection in an urban environment.

The Employment Risk (EPLI)

Small business team in Chicago office

Illinois Labor Laws Are Strict

Illinois has some of the most employee-friendly labor laws in the country. A single wrongful termination lawsuit can cost $50,000+ in legal fees alone—even if you win. Employment Practices Liability Insurance (EPLI) protects you from these claims.

The good news? A BOP allows you to add EPLI coverage cheaply as an endorsement. This protects you from lawsuits alleging wrongful termination, harassment, discrimination, or retaliation.

Wrongful Termination
Defense costs and settlements covered.
Harassment Claims
Sexual harassment and hostile workplace.
Discrimination
Age, race, gender, disability claims.
Retaliation
Whistleblower and complaint retaliation.

The Cyber & BIPA Gap

A Critical Warning for Illinois Businesses

WARNING: Most standard BOPs exclude Biometric Information Privacy Act (BIPA) liability. Illinois has the strictest biometric privacy law in the nation, and violations can cost $1,000-$5,000 per incident.

If you use a fingerprint scanner for employee time clocks, facial recognition for security, or any biometric data collection, you are exposed. Class action lawsuits under BIPA have resulted in multi-million dollar settlements.

Common BIPA Exposures

  • Fingerprint Time Clocks—Most common exposure.
  • Facial Recognition—Security systems and apps.
  • Retina/Iris Scans—High-security access.
  • Palm Print Scanners—Payment systems.

Our Solution

We Can Fix This: We work with carriers that offer BIPA liability endorsements. This coverage can be added to your BOP or as a standalone Cyber Liability policy.

Cyber Liability Add-On: Beyond BIPA, consider adding full Cyber coverage for data breach response, ransomware, and notification costs. For businesses handling customer data, this is essential.

Compliance Matters: We also help you understand BIPA's consent requirements. Proper written consent from employees can reduce your exposure—but you still need the insurance backstop.

Who Is a BOP For?

Ideal BOP Candidates

Retail Stores: Boutiques, gift shops, and specialty retailers.

Professional Services: Accountants, consultants, marketing agencies.

Tech Startups: Software companies, IT consultants, SaaS providers.

Casual Restaurants: Cafes, bakeries, and restaurants where food dominates revenue.

Popular BOP Endorsements

  • Off-Premises Power Failure
  • Hired/Non-Owned Auto
  • Plate Glass Coverage
  • Outdoor Sign Coverage
  • Employee Dishonesty/Crime

BOP vs. Commercial Package Policy

When a BOP Isn't Enough

If your business has higher risks—such as welding, manufacturing, construction, or annual sales exceeding $5 million—a BOP typically won't work. Carriers have strict eligibility requirements, and forcing a square peg into a round hole leaves you underinsured.

Manufacturing Operations High-Hazard Trades $5M+ Annual Revenue Multiple Locations

Our Approach: We'll build you a custom Commercial Package Policy (CPP) instead. This gives you the same coverages but with higher limits, broader forms, and tailored endorsements for your specific industry risks.

Quick Comparison

  • BOP: Pre-packaged, cost-effective, limited customization
  • CPP: Fully customizable, higher limits available
  • BOP: Best for small, low-risk businesses
  • CPP: Required for complex or high-risk operations
  • Not sure? We'll analyze and recommend the right fit.

BOP Add-Ons & Enhancements

Cyber Liability

Add data breach response, ransomware coverage, and BIPA protection to your BOP.

EPLI Coverage

Protect against employment lawsuits—wrongful termination, harassment, discrimination.

Commercial Umbrella

Extend your liability limits beyond the BOP for extra protection against major claims.

Business Owner's Policy FAQs

A Business Owner's Policy bundles three core coverages: General Liability (protects against third-party bodily injury and property damage claims), Commercial Property (covers your building, inventory, equipment, and furniture), and Business Income/Interruption (replaces lost income if you're forced to close due to a covered loss). Most BOPs also include basic crime coverage and can be enhanced with endorsements for cyber, EPLI, and more.

No—Workers' Compensation is always a separate policy. A BOP covers liability to third parties (customers, visitors) and your property, but employee injuries on the job require Workers' Comp coverage. Illinois law mandates Workers' Compensation for any business with employees, and operating without it carries $500/day penalties. We can bundle your BOP and Workers' Comp for multi-policy discounts.

Yes—if it's a casual dining establishment where food sales dominate revenue. Cafes, bakeries, fast-casual restaurants, and family restaurants typically qualify for BOP coverage. However, bars, nightclubs, and restaurants with more than 50% liquor sales usually require a specialized Restaurant/Tavern policy with Liquor Liability (Dram Shop) coverage. We'll evaluate your sales mix and recommend the right structure.

Only if you add the 'Off-Premises Utility Services' endorsement—and this is vital for Chicago businesses. Standard Business Interruption covers losses when your property is damaged, but a ComEd outage or water main break doesn't damage your building. This endorsement extends coverage to utility failures originating away from your premises. Given Chicago's aging infrastructure and summer heat waves, we recommend this for every BOP.

BOP premiums vary based on your business type, location, property values, and revenue. Most small businesses pay between $500-$3,000 annually for a standard BOP. Professional offices and low-risk retail tend toward the lower end, while restaurants and businesses with valuable inventory pay more. The key advantage is that a BOP costs 15-20% less than buying General Liability and Property coverage separately.

A BOP excludes several important exposures: Workers' Compensation (employee injuries), Commercial Auto (company vehicles), Professional Liability/E&O (advice and service errors), Flood damage (requires separate NFIP or private flood policy), and typically Cyber/BIPA liability unless endorsed. We build complete insurance programs that address these gaps alongside your BOP.

Yes—this is standard and usually included at no extra charge. Most commercial leases in Chicago require you to name the landlord and property manager as Additional Insureds on your liability coverage. We include Blanket Additional Insured endorsements on BOP policies, which automatically extend coverage to any party you're contractually required to name. We issue certificates same-day.

For straightforward businesses, we can often bind coverage the same day. We'll need basic information about your business operations, property values, and revenue. Once bound, we issue your Certificate of Insurance within 60 minutes—critical if you're signing a lease or starting a new contract. Call (224) 616-9430 for urgent requests.

Bundle & Save With a BOP

One policy. One premium. Complete protection for your Chicago small business. Get your custom BOP quote today.

(224) 616-9430 Start BOP Quote

Serving Cook County from 3945 W Devon Avenue