How Much Does a Business Owner's Policy (BOP) Cost?
A business owner's policy (BOP) — which bundles commercial property and general liability into a single policy — costs a small business about $57 per month at the median, per Insureon data reported by NerdWallet (about $684/year). What you actually pay depends on your industry, your state, the coverage limits and deductible you choose, and the value of the property you are insuring. A low-hazard consultant sits near the bottom of the range; a restaurant, retailer, or auto shop in a high-cost state sits well above it.
This is an independent guide from QuoteSweep, which maps the modern commercial insurance landscape. We are not an insurer, and every figure below is attributed to its source so you can check it yourself.
TL;DR: The median small-business BOP premium is about $57/month (~$684/year), per Insureon data reported by NerdWallet. Insureon's own cost page puts the average higher at $83/month (~$996/year) across more than 100,000 small-business customers, and Progressive reports a $80/month national median for new customers (2025). For the most common buyer — a very small business under 5 employees — a defensible "typical" is roughly $55–$85/month. Larger small businesses run higher.
How much does it cost?
The best "typical" number to anchor on is the median of about $57/month (~$684/year), per Insureon data reported by NerdWallet. The median is the better "typical" figure than an average because a handful of high-risk businesses pull the average up.
That average is real, though, and it comes from the same source: Insureon's own cost page lists an $83/month average (~$996/year) across more than 100,000 small-business customers. Two other first-party sources bracket the picture:
- Progressive reports a national median of $80/month for new customers, with the average new customer paying $1,524/year (both labeled 2025).
- MoneyGeek uses a larger, standardized profile — a 3-employee business with $300k in revenue — and its average comes to $1,767/year (updated Apr 27, 2026). It runs higher precisely because it models a bigger business than Insureon's and NerdWallet's mostly-micro customers.
For the most common buyer, a very small business under 5 employees, a defensible typical is roughly $55–$85/month. On an annual basis that is about $684–$1,000/year — from Insureon's $684/year median up to its $83/month average of roughly $996/year.
The full range is wide. Insureon puts it at roughly $400 to over $6,000/year, and reports that 25% of its customers pay under $50/month and 33% pay $50–$100/month. MoneyGeek's 2026 quote study spans $22–$1,607/month ($297–$16,158/year) across 79 industries and all 50 states, while NerdWallet's real shopper examples (via Coverdash) ran $20–$44/month for low-risk service firms.
If you are still deciding what coverage you need and who to buy it from, our small-business hub maps the providers by use case.
What drives the cost
Carriers price a BOP on how risky your operations are and how much property is at stake. The biggest levers, drawing on Insureon, MoneyGeek, Progressive, and NerdWallet:
- Industry and occupation risk — the single biggest driver. Per Insureon, consulting runs about $55/month and professional services about $64/month, while retail, restaurants, and auto repair run $131–$190/month. MoneyGeek's 2026 range spans from drone businesses at about $25/month to pressure washing at about $1,346/month.
- State and location. Insureon reports a low of about $70/month in Virginia and a high of about $105/month in Florida. MoneyGeek's 2026 data runs from about $128/month in Maine, North Carolina, and North Dakota to about $171/month in New York and Pennsylvania. Catastrophe-prone and high-litigation areas cost more.
- Coverage limits and deductibles. Per Insureon, 79% of its customers choose $1M/$2M limits; higher limits raise premiums while higher deductibles lower them (the average deductible is $500).
- Property value and replacement cost. Insuring $1M of business property costs more than $500k, per Progressive.
- Business size. More employees, more revenue, and more customer foot traffic all increase premiums, per Insureon and Progressive.
- Claims history and years in business. Prior claims and a shorter track record push rates up, per Progressive and NerdWallet.
How to lower your premium
Several of these are within your control:
- Bundle inside the BOP — and bundle further. A BOP already combines property and general liability into one policy rather than two standalone policies, and you can bundle more (for example, adding commercial auto or workers' comp with one carrier). MoneyGeek cites 5–15% bundling discounts.
- Raise the deductible to lower the premium, per MoneyGeek and Insureon.
- Right-size your coverage limits to what the business actually needs instead of over-insuring, per MoneyGeek and NerdWallet.
- Shop and compare multiple quotes — every major source (NerdWallet, Insureon, MoneyGeek, and Progressive) leads with this.
- Maintain a clean claims history and invest in safety and risk mitigation to qualify for better rates, per Progressive and MoneyGeek.
- Pay annually rather than monthly and ask about industry, association, or paid-in-full discounts (general industry guidance).
Affordable options
These are digital small-business insurers that quote a BOP fast and tend to sit toward the affordable end for standard risks. Each links to our independent profile so you can dig into the details before you get a quote.
Next Insurance (now ERGO NEXT after Munich Re's ERGO Group acquired it) is a digital-first insurer that quotes and binds a broad multi-line stack — including a BOP — online in under 10 minutes, with the backing of a global reinsurer.
biBERK is a direct-to-business insurer that is part of the Berkshire Hathaway Insurance Group, writing on A++ (Superior) AM Best–rated carriers and positioning on savings of up to 20% by cutting out the middleman.
Coterie Insurance is an API-first, tech-enabled MGA that delivers instant bindable small-business quotes — including the BOP that bundles property and liability — with admitted products in all 50 states.
Coverdash is an embedded digital platform that quotes and binds small-business coverage — including a BOP — online in a few clicks for small businesses, startups, e-commerce sellers, and freelancers, and issues certificates of insurance instantly.
Frequently Asked Questions
How much does a BOP cost per month?
About $57/month at the median for a small business, per Insureon data reported by NerdWallet. Insureon's own cost page lists a higher $83/month average across more than 100,000 customers, and Progressive reports an $80/month national median for new customers (2025). For a very small business under 5 employees, a typical range is roughly $55–$85/month.
How much does a BOP cost per year?
Roughly $684/year at Insureon's $57/month median (Insureon data reported by NerdWallet). Insureon's own $83/month average works out to about $996/year. Larger small businesses run higher: MoneyGeek's standardized 3-employee, $300k-revenue profile averages $1,767/year (updated Apr 27, 2026), and Progressive's average new customer pays $1,524/year (2025).
Why is my BOP so expensive?
The single biggest driver is your industry — per Insureon, consulting runs about $55/month while retail, restaurants, and auto repair run $131–$190/month. After that come your state (about $70/month in Virginia versus $105/month in Florida, per Insureon), your coverage limits and deductible (79% of Insureon customers carry $1M/$2M limits), the value of the property you are insuring ($1M costs more than $500k, per Progressive), your business size, and your claims history and years in business.
What is the cheapest way to get a BOP?
Start with the BOP bundle itself — it combines property and liability into one policy rather than two standalone policies — and bundle further where you can (MoneyGeek cites 5–15% bundling discounts). Then raise your deductible, right-size your coverage limits instead of over-insuring, keep a clean claims history, pay annually rather than monthly, and compare multiple quotes — advice every major source (Insureon, NerdWallet, MoneyGeek, Progressive) leads with.
The bottom line
Anchor on the median of about $57/month (~$684/year), per Insureon data reported by NerdWallet — the better "typical" number, since a few high-risk outliers pull the average up. Insureon's own $83/month average (~$996/year) and Progressive's $80/month median (2025) bracket it, and a very small business under 5 employees typically lands around $55–$85/month. Larger small businesses run higher — MoneyGeek's standardized 3-employee profile averages $1,767/year — so always read the buyer profile alongside any single number. The full range spans roughly $400 to over $6,000/year per Insureon, and where you fall comes down to industry, state, coverage limits, and property value. The fastest ways to pay less are bundling further, raising your deductible, right-sizing limits, and comparing quotes. Start with our small-business hub to match your business to the right provider.
