Business owners policies (BOP) ended 2021 with the line's highest average premium renewal rate change, according to IVAN' Insurance, which reported BOP saw renewal rate change averages of 5.58% in Q4 2021. "Most major commercial lines of business ended the year with their highest average premium renewal rates since the IVANS Index began in 2017," Kathy Hrach, vice president of product management, IVANS Insurance, said in a release. "As the average premium renewal rate changes become influenced by macroeconomic trends, like inflation and economic uncertainty, we will continue to track how these commercial lines of business fair in 2022." BOP is commercial insurance that combines major property and liability risks in one package and are popular among small and mid-sized businesses, according to the Insurance Information Institute. BOP policies often include property insurance for buildings and contents, business interruption coverage and liability protection. These types of policies typically do not cover professional liability, auto, workers' comp or health and disability insurance. The above slideshow highlights the top rated insurance companies offering business owners policies, according to AdvisorSmith. The ranking considered factors such as AM Best and S&P financial strength ratings, customer satisfaction scores and complaint ratings from the National Association of Insurance Commissioners. Related:

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