What is GigBOP - Business Owners Policy for the Gig Economy?
Business Owners Policy covering Business Personal Property & General Liability with options in Employment Benefit Liability, Professional Liability, and Hired Non-Owned Auto Liability. Designed and tailored solutions for risks related to Gig Economy and emerging industries. Specifically created for home-based business, shared workspace offices, and limited footprint companies.
Businesses eligible for the GigBOP include: Artisan/Servicing Manufacturing, Direct Retail Sales, Online Retail Sales and Services. We have more than 75 classes available.
Competitive Commissions: We pay competitive commissions on premium collected.
GigBOP at a Glance
- 75+ Eligible Classes
- Business Personal Property up to $250,000
- Up to $5,000,000 in sales
- 25 employees
- Up to $1,000,000/$2,000,000 for General Liability
- Professional Liability up to $1,000,000
What do you mean by Gig Workers?
Gig workers are temporary, with flexible hours or freelance based workers. They are very popular due to the flexibility of online businesses. Gig work is increasingly popular as a side job, or a side hustle for people with more traditional full-time jobs to create an additional source of income. According to Upwork’s seventh annual Freelance Forward study, 59 million Americans worked as freelance workers in the past 12 months, representing 36% of the overall U.S. workforce. Examples of gig workers include contractors, online jewelry sellers, freelancers, business services and project-based workers.
Eligible Businesses
We write GigBOP business with principal exposures being business personal property, general liability and potentially miscellaneous professional liability.
We have more than 75 businesses eligible for the GigBOP including:
- Artisan/Servicing Manufacturing
- Direct Retail Sales
- Online Retail Sales
- Services
Food products must be prepared or manufactured in either a commercially certified kitchen, cottage food kitchen or equivalent in-home kitchen in accordance with state and local regulations and which has an approved Health rating by an appropriate Department of Health.
GigBOP Coverage
- $250,000 for Business Personal Property
- Up to $1,000,000/$2,000,000 for General Liability
- Professional Liability up to $1,000,000
- 3 months
- 6 months
- Annual
- 10 pay, quarterly, semi-annual, and full pay available for annual policies, with 20% deposit.
- Semi-annual can have full pay or 2 installments with 20% deposit.
American European Insurance Group
Available in the following states:
District of Columbia, Delaware, New Hampsire, New Jersey, Massachusetts, Maryland, Maine, Michigan, Ohio, Pennsylvania, Rhode Island, Virginia, Vermont
Accepts payment via credit card or ACH. Policy forms, invoices and policyholder notices are sent electronically.
Resources for Producers
Visit the Insurance-As-A-Service™ Resources page available to policyholders for access at your fingertips a suite of value added resources for legal, human resource management, risk management, mental health, ergonomics and loss mitigation services.