BUSINESS OWNERS POLICY COVERAGE
Waterloo Insurance can offer a competitive Business Owners Policy (BOP) that can be easily tailored to specific risks. The BOP can be issued as a stand-alone product or as a complement to workers’ compensation insurance or commercial auto products.
Coverage
-
10% discount for workers’ comp policyholders
-
Umbrella up to $10 million
-
Hired and non-owned auto available if business does not deliver or have commercial auto policy
-
Extensive coverage enhancements
Preferred Exposures
Unless otherwise specified, each category below is eligible for bind online.
Mercantile/Retail
- TIV for building and BPP up to $5 million per location
- Revenue up to $5 million per location
- All construction types; may occupy up to 2 stories
- 20,000 square foot maximum
- Buildings over 35 years old require complete electrical, plumbing, HVAC and roof updates
Offices
- TIV for building and BPP up to $5 million per location
- Revenue up to $5 million per location• All construction types; may occupy up to 6 stories
- 75,000 square foot maximum
- Buildings over 35 years old require complete electrical, plumbing, HVAC and roof updates
Processing and Service
- TIV for building and BPP up to $5 million per location
- Revenue up to $5 million per location
- All construction types; may occupy up to 2 stories
- 20,000 square foot maximum
- Buildings over 35 years old require complete electrical, plumbing, HVAC and roof updates
Restaurants
- TIV for building and BPP up to $3 million frame and $5 million per location
- Revenue up to $5 million per location
- Frame must include full sprinkler system
- Buildings over 35 years old require complete electrical, plumbing, HVAC and roof updates
- All commercial cooking equipment must have a UL300 wet extinguishing system and a service contract for inspections every 6 months
- No open solid fuel cooking (barbequing) with wood, charcoal or mesquite, with the exception of pizza ovens
- Liquor Liability coverage is not available in or within 10 miles of: AL, CT, IA, MN, PA, UT, VT and WV
- Businesses with commercial cooking or alcohol sales are not bind-online eligible and must be submitted to our underwriting department with our supplemental application or have a pre-quote survey conducted by our loss control group over the phone.
Wholesaler
- TIV for building and BPP up to $5 million per location
- Revenue up to $5 million per location
- 20,000 square foot maximum and up to 2 stories
- All construction types; frame over 5,000 square feet must include full sprinkler system
- Buildings over 35 years old require complete electrical, plumbing, HVAC and roof updates
Ineligible Exposures
-
Manufacturing
-
Contractors
-
Hotels and motels
-
Buildings with over 25% vacancy
-
24–hour retail or seasonal operations
-
No flood coverage
-
New-venture habitation, convenient stores, grocery stores or restaurants with commercial cooking or liquor sales