Which of the following businesses would be eligible for coverage under a BOP?

A Business Owners Policy (BOP) is designed to provide coverage for small to medium-sized businesses, typically those that are less complex and have a lower risk profile compared to larger enterprises. The correct answer, which identifies a convenience store, fits well within the BOP criteria.

Convenience stores generally have lower property values and straightforward operations, making them suitable candidates for BOP coverage. They usually have a physical storefront, inventory, and may even have some associated liability exposures, which a BOP can cover effectively. This coverage includes protection for both property damage and liability claims, addressing the specific needs of such businesses.

In contrast, an office building, while it may seem like a small business, usually deals with multiple tenants and complex insurance needs that might exceed what a BOP can adequately offer. A commercial condominium often requires specialized coverage since these types of properties involve unique ownership structures and risk factors. Finally, banks typically have higher complexity, with significant financial assets and risks that are generally beyond the scope provided by a BOP, necessitating specialized commercial property insurance instead.