You don’t need a mystery policy. You need a clear, local plan that protects your Roanoke, Texas business without bloating your premium. This guide explains in plain English what a BOP covers, what it doesn’t, what typically drives price, and how Neill Insurance Group builds a policy that fits your risks, your lease, and your budget.
Is a BOP right for you?
A BOP bundles Property, General Liability, and Business Interruption into one policy designed for small to midsize businesses.
Usually a fit for:
- Retail, restaurants, professional offices, service trades, light contractors
- Fewer than ~100 employees, modest square footage, lower-hazard operations
- Owners who want one policy to protect assets, defend lawsuits, and keep revenue flowing after a covered loss
Core protections:
- Commercial Property (building, improvements, inventory, equipment)
- General Liability (bodily injury, property damage, personal/advertising injury)
- Business Interruption (lost income, continuing expenses, extra expense to relocate temporarily)
What a BOP actually protects (and why Roanoke businesses care)
1) Commercial Property
Protects your building (if owned) or tenant improvements, inventory, equipment, signage, and furniture. Choose Special Form where possible for broader protection. Add Replacement Cost and Agreed Value to avoid unpleasant surprises from depreciation or coinsurance penalties.
Local angle: North Texas brings wind, hail, lightning, and occasional tornado impacts. One storm can damage roofs, signage, HVAC, and point-of-sale equipment. Property coverage keeps a weather event from becoming a cash-flow crisis.
2) General Liability
Pays to defend and settle claims if someone alleges your business caused bodily injury or property damage (think slip-and-fall in your shop or a technician damaging a customer’s property). This also includes personal and advertising injury (e.g., libel/slander tied to your marketing).
Local angle: New foot traffic from DFW growth means more opportunity and more exposure. Liability ensures one incident doesn’t derail your growth.
3) Business Interruption (Income)
Replaces lost income and helps cover ongoing expenses if you must shut down due to a covered property loss (fire, major water damage, wind/hail). Add Extra Expense to move operations temporarily and keep revenue coming in.
Owner tip: Verify your period of restoration and consider Civil Authority coverage if access to your premises is restricted after a covered event.
What a BOP doesn’t include by default
Add these as endorsements or separate policies if you need them:
- Workers’ Compensation (employee injuries)
- Commercial Auto (owned/used vehicles for business)
- Professional Liability (E&O) (service or advice errors)
- Liquor Liability (if you sell/serve alcohol)
- Cyber Liability/Data Breach (customer data, ransomware, notification costs)
- Employment Practices Liability (EPLI) (hiring/firing/harassment claims)
- Inland Marine/Contractor’s Equipment (property in transit or on job sites)
- Flood & Earthquake (usually excluded from property policies)
- Utility Services/Off-Premises Power (when outages damage inventory or interrupt operations)
- Spoilage (perishables after equipment failure or outage)
What does a BOP cost in Roanoke?
There’s no single number, but most small operations we see locally fall broadly into these bands (illustrative, not quotes):
- Low-risk professional office (few visitors, modest contents): roughly $600–$1,200/year
- Retail boutique or specialty shop (customer foot traffic, inventory): roughly $900–$2,000/year
- Quick-service restaurant/food truck (cooking exposure, higher contents, business income): roughly $1,500–$4,000+/year
Price drivers that matter most:
Industry class and claims history, square footage, construction and roof age, security/sprinklers, contents and equipment values, improvement costs, limits/deductibles/endorsements (e.g., cyber, EPLI), and business income amount and restoration time needed.
Roanoke-specific risks we plan for
- Severe convective storms: wind/hail damaging roofs, signage, AC units, vehicles
- Power disruptions: spoilage and income hits (consider Utility Services/Off-Premises Power, Spoilage, Extra Expense)
- Construction growth: contracts that require specific liability limits and forms (Additional Insured, Primary & Non-Contributory, Waiver of Subrogation)
- Cyber exposures: POS malware, phishing on accounting inboxes, third-party vendor incidents
FAQs
How much Business Interruption coverage should I carry?
Start with 12 months of income unless your operation would realistically rebuild faster or needs 18–24 months (restaurants with build-outs, custom equipment). Ensure Extra Expense is included to relocate temporarily.
Replacement Cost or Actual Cash Value on property?
Choose Replacement Cost to avoid depreciation deductions after a loss. If your building is older, confirm any cosmetic damage exclusions for roofs and how matching is handled.
My landlord requires $1M/$2M liability and to be added as Additional Insured. Is that standard?
Yes. We’ll add Additional Insured, Primary & Non-Contributory, and Waiver of Subrogation as your lease specifies and issue certificates promptly.
I’m a contractor. Do I need more than a BOP?
Likely yes. Add Inland Marine/Tools & Equipment, consider Contractor’s E&O (for design/consultation components), and ensure Additional Insured wording matches GC requirements. If you drive for work, you’ll also need Commercial Auto.
I take payments and store customer data. Is cyber really necessary?
If you handle credit cards or client info, yes. A basic Cyber endorsement or standalone policy covers breach response, notification, credit monitoring, and ransomware events—costs that can cripple a small business.
Does a BOP cover flood?
No. Flood is typically excluded. If your location is at risk or your lease/lender requires it, we’ll quote NFIP or private flood to close that gap.
Can I reduce my premium without gutting coverage?
Often. We verify valuation accuracy, roof and protective device credits, right-size business income, bundle endorsements smartly, and shop multiple carriers. Savings should never come from deleting protection you’ll wish you had at claim time.
A BOP is the foundation. The right fit comes from tailoring the details—valuation, income period, endorsements, and lease requirements—to your operation. If you want a policy that reads like your business, not a template, we’re ready to help.
