It covers the core: liability, contents and business income. It typically does not include product liability at adequate limits, cyber, crime or equipment breakdown, all of which most retailers need. Treat a BOP as a foundation, not a finished program.
Fraud is a crime
If your application contains purposefully misleading, absent, or inaccurate information, you could be charged with fraud. Your insurance carrier could potentially void your policy, or you could face civil or criminal charges or penalties.
Any person who knowingly and with intent to defraud any insurance company or other person, files an application for insurance or statement of claim containing any materially false information or conceals, for the purpose of misleading, information concerning any fact material thereto, commits a fraudulent act, which is a crime.
