ACORD 160 — Business Owners Application

Edition 2016/03 · PDF format

Application specifically for Business Owners Policy (BOP) coverage. Combines property and liability coverage for small to mid-size businesses in a single, simplified form.

What is ACORD 160?

ACORD 160 (Business Owners Application) is the streamlined application used to apply for Business Owners Policy (BOP) coverage. A BOP combines property, general liability, and (optionally) business income coverage into a single, simplified policy designed for small and mid-sized businesses.

Because the BOP combines coverages, ACORD 160 replaces several separate ACORD forms. There's no need for separate ACORD 126 (GL) and ACORD 140 (Property) submissions on a BOP risk.

Who needs this form

Small to mid-sized businesses applying for BOP coverage. Typical BOP eligibility: under 100 employees, under $5–10M in annual revenue, lower-hazard occupancies (offices, retail, restaurants, light contractors).

When to use it

Submit at new BOP submissions and renewals. If the applicant doesn't qualify for BOP, the broker will need ACORD 125 plus separate section forms for stand-alone GL and property.

Key Fields on ACORD 160

The information the form captures, in the order it typically appears:

Applicant name, FEIN, mailing address
Years in business and operations description
Premises information (one row per location)
Construction, year built, square footage, occupancy by location
Property limits per location: building, BPP, business income
Liability limits and aggregate
Optional coverages: equipment breakdown, hired/non-owned auto, employee dishonesty
Loss history (5 years)

Common Mistakes

Recurring errors that delay processing or expose brokers to E&O claims:

Submitting BOP for an ineligible class

BOP eligibility is restricted by occupancy, size, and hazard. Submitting an ineligible class wastes time and produces declinations. Confirm eligibility before quoting BOP.

Forgetting business income

BI coverage is often optional on BOP. Many small businesses skip it and regret the decision after a loss closes them for weeks.

Frequently Asked Questions

What's the difference between a BOP and a Commercial Package Policy (CPP)?

BOP is a pre-packaged combination of property, GL, and (optionally) BI for small businesses, with limited customization. CPP is a la carte: you build the package by combining individual lines (property, GL, crime, etc.) with full customization. BOP is simpler and cheaper for eligible classes.

Can I add workers comp to a BOP?

Some carriers offer 'BOP + WC' as a bundled package, but the WC coverage is still written on a separate workers comp policy form (and requires ACORD 130). The BOP itself doesn't include WC.

Related ACORD Forms

ACORD 125