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