Reduce expenses by consolidating core general liability, property damage, and business interruption coverage into a single policy.
Business owner's policy for convenience stores bundles include a combination of general liability, commercial property, and business interruption insurance. These coverages are essential to any business and are offered in a package for a much lower cost than if they were purchased individually. To many retail store operators, obtaining a BOP is the starting point before the addition of specialized endorsements.
A typical BOP insurance for convenience store policy provides 3 essential commercial insurance coverages conveniently packaged together:
A BOP will address the primary property & liability exposures, but will expressly exclude certain specialized exposures:
For those who run a retail store, a BOP is the least expensive type of commercial coverage. It offers the foundation for liability and asset protection, which is essential for all stores to operate safely. By securing this core foundation first, you can easily add specialized policies like liquor liability or workers' comp as your store grows.
General liability and commercial property insurance are nearly always a prerequisite of any commercial landlord or mortgage lender approving a lease or loan. A BOP will meet both needs in one insurance certificate, making your compliance paperwork easier.
You can save money by having your coverage all in one place with a BOP. BOPs are less expensive than purchasing separate policies for property and general liability coverage, as insurers provide a reduced package rate.
The average convenience store BOP cost is around $150 to $350 per month ($1,800 to $4,200 annually). The exact premium depends on the total square footage of the building, the annual gross sales, the inventory value, the location of the store, and security controls. Check out our full convenience store insurance cost breakdown.
An electrical short in your main electrical panel causes a fire that burns out your cashier counter and destroys $25,000 in tobacco stock, forcing your store to close for 10 days for repairs. Your BOP's property coverage pays for the repair of your building and the replacement of your destroyed stock for $40,000, and your business interruption coverage replaces $12,000 in lost revenue and your clerks' continued payroll.
A Business Owner's Policy is the foundation of your business. Dedicated breakdowns for each bundle can be found on our general liability, commercial property, and business interruption pages. Explore these coverages individually to customize your policy limits and eliminate dangerous gaps in your protection.
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Usually not. A BOP provides coverage for general liability and property damage, but not for mandatory workers' comp, commercial vehicles, liquor liability, or point-of-sale cyber breaches. Most retail stores include individual endorsements as well as their BOP to cover those risks.
Yes. Insurance companies can customize coverage amounts, choose specific deductibles, and include additional endorsements like equipment breakdown or inventory spoilage coverage into the main BOP policy.
Secure comprehensive protection from Insure C-Store for your building, stock, and daily revenue at a discounted bundled rate. Call our commercial agents today for an existing business owner's policy that can be customized for your store.
