Business Owner's Policy for Myrtle Beach Businesses

What Is a Business Owner's Policy?

A business owner's policy—commonly called a BOP—bundles the essential coverages most small businesses need into a single, convenient package. Instead of purchasing commercial property insurance, general liability insurance, and business interruption coverage as separate policies, a BOP combines them under one policy number with one premium payment and one renewal date.

For Myrtle Beach business owners, this bundled approach simplifies insurance management while typically costing less than buying equivalent coverages separately. Insurance carriers offer this discount because packaging policies together reduces their administrative costs and keeps your business with one company.

Why Myrtle Beach Businesses Choose a Business Owner's Policy

Small and mid-sized businesses along the Grand Strand face the same core risks: property damage, liability claims, and income loss from unexpected closures. A business owner's policy addresses all three in one streamlined package:

• Cost efficiency. Bundling coverage into a BOP typically saves 10% to 15% compared to purchasing separate property, liability, and business interruption policies. For budget-conscious small businesses, this matters.


• Simplified administration. One policy means one renewal date, one premium payment, and one insurance company to contact when you have questions or need to file a claim.


• Comprehensive foundation. A business owner's policy covers the exposures that affect virtually every small business—protecting your property, defending against lawsuits, and replacing income during covered closures.


• Easier claims handling. When a single event triggers multiple coverages—say, a fire that damages your building and forces you to close—having everything under one policy with one adjuster streamlines the process.


• Flexibility to customize. While the base BOP covers core risks, you can add endorsements for cyber liability, hired auto coverage, employment practices liability, and other exposures specific to your operations.

What Does a Business Owner's Policy Cover?

A standard BOP includes three main coverage components, each addressing a different category of risk:

Commercial Property Coverage

The property component of your business owner's policy protects the physical assets your business depends on:

Building coverage. If you own your business premises in Myrtle Beach, your BOP covers the structure against fire, wind, hail, lightning, vandalism, and other covered perils. This includes permanently installed fixtures like HVAC systems, plumbing, and electrical.

Business personal property. Your equipment, inventory, furniture, and supplies are covered whether you own or lease your space. This protects everything from computers and point-of-sale systems to product inventory and office furnishings.

Tenant improvements. If you've invested in buildout or improvements to a leased space—custom cabinetry, interior walls, flooring upgrades—your business owner's policy can cover these betterments and improvements.

Outdoor property. Signs, fences, and other outdoor fixtures can be included in your property coverage, protecting assets that standard policies sometimes overlook.

General Liability Coverage

The liability component defends your business when someone claims you caused them harm:

Bodily injury liability. If a customer slips on a wet floor in your Surfside Beach retail shop or a delivery person trips on your loading dock, general liability covers their medical expenses and your legal defense if they sue.

Property damage liability. When your business operations damage someone else's property—a contractor accidentally breaks a client's window, or water from your unit damages the tenant below—liability coverage responds.

Personal and advertising injury. Claims of libel, slander, copyright infringement in your advertising, or wrongful eviction fall under this coverage. It's protection for the non-physical ways your business might harm others.

Products and completed operations. If a product you sell injures someone or work you completed causes damage after you've left the job site, your business owner's policy provides coverage.

Business Interruption Coverage

When covered property damage forces your business to close temporarily, business interruption coverage replaces lost income:

Lost net income. Your BOP reimburses the profits you would have earned during the shutdown, based on your financial records and historical performance.

Continuing expenses. Rent, loan payments, utilities, and other fixed costs don't stop when your doors close. Business interruption coverage helps you meet these obligations.

Extra expenses. Costs incurred to minimize the shutdown—renting temporary space, expediting repairs, notifying customers—can be covered under extra expense provisions.

Who Qualifies for a Business Owner's Policy in South Carolina?

Business owner's policies are designed for small to mid-sized businesses with relatively straightforward risk profiles. Most carriers have eligibility guidelines based on:

Business type. Retail stores, restaurants, professional offices, wholesalers, service businesses, and contractors commonly qualify for BOP coverage. Some higher-risk operations—manufacturers with significant hazards, businesses serving alcohol as their primary revenue source—may not fit standard BOP programs.

Size limitations. Carriers typically cap BOP eligibility based on square footage (often under 25,000 square feet), annual revenue (commonly under $5 million), and number of employees.

Location and operations. Your Myrtle Beach location, building construction, and specific business activities all factor into eligibility. A retail shop in a strip mall qualifies easily; a fireworks distributor might not.

If your business doesn't qualify for a business owner's policy, you can still get equivalent coverage through separate commercial property and general liability policies. The coverage works the same—you just lose the bundling discount and administrative convenience.

What Can You Add to a Business Owner's Policy?

The base BOP covers essential risks, but most South Carolina businesses need additional protection. Common endorsements include:

• Cyber liability coverage. Data breaches, ransomware attacks, and electronic theft create exposures that standard BOPs don't address. Cyber liability endorsements fill this gap.


• Hired and non-owned auto coverage. If employees drive personal vehicles for business errands or you rent vehicles occasionally, this coverage protects against auto liability claims.


• Employment practices liability. Claims of discrimination, wrongful termination, harassment, or other employment-related issues require specialized coverage beyond general liability.


• Professional liability. Also called errors and omissions coverage, this protects service businesses against claims arising from professional mistakes or negligence.


• Equipment breakdown. Many BOPs include this coverage, which pays to repair or replace equipment that fails due to mechanical or electrical breakdown—not just external damage.


• Spoilage coverage. Restaurants, grocery stores, and other Myrtle Beach businesses with perishable inventory can add coverage for spoilage due to equipment failure or power outage.

Business Owner's Policy vs. Commercial Package Policy

Business owner's policies and commercial package policies both bundle multiple coverages together, but they serve different markets:

Business owner's policies are pre-packaged products designed for small businesses. Coverage forms, limits, and options are standardized, which keeps costs down but limits flexibility. BOPs work well for straightforward operations that fit the carrier's eligibility guidelines.

Commercial package policies offer more customization for larger or more complex businesses. You can select specific coverage forms, set individual limits for each coverage, and tailor the policy to unusual exposures. This flexibility comes with higher premiums and more complex administration.

Most small businesses in Myrtle Beach find that a business owner's policy provides the coverage they need at a competitive price. As your business grows or your operations become more complex, transitioning to a commercial package policy may make sense.

How Much Does a Business Owner's Policy Cost in South Carolina?

BOP premiums vary based on your specific business, but most small businesses pay between $500 and $3,500 annually. Factors affecting your rate include:

• Industry classification. Restaurants pay more than accounting firms because they face higher liability exposure and property risks.


• Revenue and payroll. Larger operations generate higher premiums because they have more exposure.


• Property values. The value of your building, equipment, and inventory directly affects the property coverage premium.


• Location. A business in a Conway office park may see different rates than one in a Myrtle Beach tourist district.


• Coverage limits and deductibles. Higher liability limits and lower deductibles increase premium costs.


• Claims history. Previous losses on your record typically result in higher premiums.

The best way to determine your cost is to get quotes based on your specific business details. As an independent agency, Moore & Associates can compare business owner's policy pricing from multiple carriers to find competitive coverage.

Why Work with Moore & Associates for Your Business Owner's Policy

Moore & Associates has served Myrtle Beach businesses since 1979. As an independent insurance agency, we represent multiple carriers offering business owner's policies in South Carolina. This means we can shop your coverage and find the right combination of price, coverage, and service for your specific situation.

Our local agents understand the risks facing Grand Strand businesses—from seasonal revenue fluctuations to coastal weather exposure. We help you select appropriate coverage limits, identify endorsements you need, and structure a business owner's policy that actually protects your operations without paying for coverage you don't need.

Whether you're opening a new restaurant in North Myrtle Beach, running a professional office in Conway, or operating a retail shop in Pawleys Island, Moore & Associates can build a BOP that fits your business.

Get a Business Owner's Policy Quote in Myrtle Beach, South Carolina

Our business owner's policy agents serve Myrtle Beach, South Carolina and surrounding areas including North Myrtle Beach, Atlantic Beach, Conway, Surfside Beach, Murrells Inlet, Litchfield, Pawleys Island, and Georgetown. Contact Moore & Associates today for a free quote.