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Business Owner's Insurance

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Business Owner's Insurance Provided By Our Agency

If your business has assets, such as equipment or inventory, it could benefit from having a business owner’s policy (BOP). A BOP combines business property, business liability and business income insurance in one policy.

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General liability
Property Damage
Business Owners Policy (BOP)
Cyber liability
Workers Compensation

General liability

Risk Factors

There can be a possibility that a visitor gets injured or gets their property damaged in your business premises.

Solution

Every business, even if home-based, needs to have liability insurance. The policy provides both defence and damages if you, your employees or your products or services cause or are alleged to have caused Bodily Injury or Property Damage to a third party.

Property Damage

Risk Factors

Your business property may get damaged by unexpected events like a fire, an explosion, hail, etc., and cause you a significant loss.

Solution

Properties covered by a business policy usually include buildings (owned or rented). The property insurance portion is generally available as named-peril coverage, which provides coverage only for damage caused by events specifically listed in the policy (typically fire, explosion, wind damage, vandalism, smoke damage, etc.).

Business Owners Policy (BOP)

Risk Factors

A business owner would require to take various types of insurance coverage to cover each risk. This can cost them more if they take it separately.

Solution

A business owner policy packages all the required coverage a business owner would need. BOPs often include business interruption, property, vehicle, liability, and crime insurance. Typically, a business owner will save money by choosing a BOP because the bundle of services often costs less than the total cost of all the individual coverage.

Cyber liability

Risk Factors

Your employees can get injured while working at your office premises, and you would be liable to pay for their medical expenses.

Solution

Get coverage for computer attacks and damage to electronic data and computer systems. Also offset the effects of your database being hacked or getting a virus.

Workers Compensation

Risk Factors

Your employees can get injured while working at your office premises, and you would be liable to pay for their medical expenses.

Solution

This coverage provides insurance to employees who are injured on the job. This type of insurance provides wage replacement and medical benefits to those who are injured while working. In exchange for these benefits, the employee gives up his right to sue his employer for the incident.

Do I need Business Owner's insurance?

Businesses need business insurance because it helps cover the costs associated with property damage and liability claims. Business owners may have to pay out-of-pocket for costly damages and legal claims against their company without business insurance. Depending on the incident, this could be financially devastating for business owners. In some states, businesses are required to have specific types of business insurance.

A Business Owner's Insurance policy will keep your business protected against:

  • General Liabilities
  • Property Damage
  • Business Liabilities
  • Cyber Liabilities
  • Bodily Injuries
  • Service Errors

Coverage Provided by Business Owner's Insurance

Employees

Workers can accidentally injure customers or cause property damage. With this policy, you'll have protection for them and your business.

Any chance of a lawsuit

If a customer slips and falls at your store, this can help pay their medical expenses and your legal costs.

A physical location

Your BOP policy can help cover businesses run out of your home and a rented or owned office, store, or garage.

Assets that could get stolen or damaged

Digital property, equipment, furniture, cash, and inventory are all difficult to replace without the right insurance.

Private customer data

If someone steals or loses personally identifiable information, this can help pay expenses like notifying impacted clients and public relations.

Already have Business owners Insurance? Switching is easy

It might be time to switch insurers whenever the service that your existing insurer provides doesn’t meet your needs. For example, if you have a poor claims experience or an unexplained rate increase, it might be time to consider other options

If you cancel a previous policy before a new policy is effective, you could run into some serious financial problems.

Contact us today to help you with multiple options to choose from.
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