Business Owners Insurance

Business Owners insurance (also known as a Business Owners Policy or BOP) protects small businesses from a variety of risks. Business owners insurance offers complete coverage for small to medium sized businesses – typically those with fewer than 100 employees and less than $5 million in sales.

 

A Business Owners policy, combines several types of insurance coverages together so you can buy a package of protection at a competitive price. With convenience and convenience and customizable coverage options, find the insurance for your business that’s right for you.

With a business owners policy, your business can get property insurance (property damage), liability insurance, crime coverage and additional protection, built into one convenient package. This insurance coverage for small business owners works to protect you from:
  • Property claims
  • Equipment breakdown
  • Income loss
  • Professional liability claims
  • Premises & Operations Claims
  • Products and completed operations claims
  • Fire legal liability claims
  • Premises liability claims

Business Owners insurance with its built in specialized coverages protect your business needs, plus, you can choose from an array of other options. If your company needs additional protection, we will work with you to create a tailored business owners insurance coverage package that suits your specific needs.

Discounts may be available on your commercial auto insurance premium if you have both a Business Auto Policy and an active Business Owners Policy with the same carrier.

Who Needs Business Owners Insurance?

As a business owner, you need to determine the types of coverage that best protect your business. Businesses eligible for a Business Owners Policy include:
  • Trade Contractors
  • General and Medical offices
  • Retail businesses (florists, clothing stores, etc)
  • Wholesale businesses
  • Service businesses
  • Service shops (dry cleaners, funeral homes, etc)
  • Restaurants
  • Delis and coffee shops
  • Auto repair and lube shops
  • Light Manufacturing
  • Apartment Owners and Condominium Associations
  • Motels and hotels
  • Medical, dental, and veterinarian offices
 

Insurance options to help mitigate risk and protect your company.

Risk is a common factor in everyday business. That’s why we offer a wide range of business insurance options to help mitigate risk and protect your company. Whether you have a small, mid-sized, large or even highly specialized business, the dedicated underwriting, claims and risk control services of our partner carriers can match your unique coverage and compliance needs.

Small Business

We offer the right insurance coverage for your small business needs – with options to even further tailor your insurance solutions to put your mind at ease.

Small business insurance made simple

At Vincent & Vincent Property & Casualty Services, we know choosing the right insurance for your business is an important decision. That’s why our partner companies have created one of the best portfolios of small business insurance coverages.

Whether you’re a store owner, office professional or wholesaler, our flexible, streamlined small business insurance coverages are designed to protect you against the unique risks and exposures you face – so you can tend to your business and rest assured that it is protected in every imaginable way.

Business owner’s policy for small businesses

A Business Owner’s Policy (BOP) is recommended for most small businesses, as it is often the most affordable way to obtain broad coverage. Combining both property and liability insurance, a BOP will cover your business in the event of such things as property damage, suspended operations, or lawsuits resulting from bodily injury or property damage to others.

The Business Owner’s Policy written by our partner companies, offers a myriad of options to meet your specific insurance needs. Some businesses may find the BOP alone to be sufficient, while others may wish to tailor Travelers BOP by increasing key coverages, adding other options, or eliminating unnecessary coverages.

Whether you’re a store owner, office professional or wholesaler, our flexible, streamlined small business insurance coverages are designed to protect you against the unique risks and exposures you face – so you can tend to your business and rest assured that it is protected in every imaginable way.

What a business owners policy covers:

Think about BOP insurance as a homeowner’s policy for your business. It offers a range of coverage that most small and medium-sized businesses need. Most importantly, it can help you cover expenses when the unexpected interrupts your ability to generate cash flow.

Common BOP coverage includes:
  • Property insurance, which protects your building, equipment and inventory
  • Business Income insurance, which protects you from losses that occur when you must suspend your operations due to a covered loss
  • Bodily Injury and Property Damage Liability, for those instances when your employees, products or services cause harm to other people or their property
  • Personal and Advertising Injury coverage for copyright infringements, libel, or slander
  • Medical Payments coverage for medical expenses resulting from injury to others on premises you own or rent
  • Rented vehicle coverage also known as Hired Auto coverage – provides liability coverage for autos leased, hired or borrowed by the insured. Non-owned Auto coverage provides liability for employees using their personal auto in the business of an insured. Both coverages provide only liability coverage. A business auto policy is needed if physical damage coverage is desired
  • Equipment breakdown coverage, which protects you if your equipment is damaged from power surges, mechanical breakdown, burnout or operator error
Our BOP series includes insurance protection for small businesses in the following industry segments:
  • Apartment: This coverage is designed for owners of buildings used exclusively as apartment houses, including cooperatives.
  • Building: This coverage is designed for lessors of commercial buildings occupied by offices, mercantile and retail establishments.
  • Business: This coverage is designed for businesses providing personal consumer services, businesses repairing light consumer goods and businesses engaged in printing.
  • Condominium: This coverage is designed for owners of buildings used exclusively as condominiums.
  • Contractors: This coverage is designed for primarily small residential, special trade contractors.
  • Garage: This coverage is designed for independently operated or franchised automotive service and repair businesses.
  • Manufacturers: This coverage is designed for various manufacturers.
  • Office: This coverage is designed for a variety of firms providing medical, legal, financial or other professional services for their clientele.
  • Religious: This coverage is designed for small churches and other houses of worship not affiliated with operating educational institutions.
  • Restaurant: This coverage is designed for various food service establishments and is designed for fast food and family-style restaurants
  • Store: This coverage is designed for a wide variety of retailers primarily engaged in brick-and-mortar commerce
  • Wholesalers: This coverage is designed for distributors of various types of durable and non-durable domestic goods
We also offer number of built-in coverages important to protecting your small business, including:
  • Business personal property (optional for some businesses)
  • Building coverage (optional for some businesses)
  • General liability
  • Product liability
  • Business income and extra expense (optional for some businesses)
  • Employee dishonesty
  • Equipment breakdown coverage
Small business insurance-specific coverage options are also available, such as:
  • Increased fine arts coverage
  • Accountants endorsement
  • Lawyers endorsement
  • Medical and dental office endorsement
  • Eating establishment endorsement
  • Spoilage coverage
  • Bailees customers goods coverage
We are dedicated to the small business marketplace and we are sure that you will find an insurance product that is well suited for your business.
 
Contractors: Contractors are generally required to carry business liability insurance, which can protect the interests of a property owner or the site general contractor. Learn more about Business Owners Insurance for Contractors and the specialized coverage options available.

Business Owners Insurance Basics:

A Business Owners Policy offers three main types of coverage:

  • Liability Coverage – Provides protection if you cause bodily injury, property damage, personal injury or advertising injury.
  • Buildings and Business Personal Property Coverage – Provides replacement cost coverage for buildings and most business owners’ personal property. Note: Property coverage is optional for contractors.
  • Loss of Income and Extra Expense – When your insured property is damaged, you are protected for loss of business income. We insure your net income and continuing normal operations expenses, including payroll, for up to 12 months – with no preset amount.

Optional Business Owners Policy Coverages:

In addition to basic Business Owners Policy coverage, you can purchase additional coverages to provide more comprehensive business insurance coverage for your business.

  • Employee Practices Liability insurance
  • Identity Theft insurance
  • Electronic data and equipment coverage
  • Personal property of others coverage
  • Valuable papers and records coverage
  • And more…

Coverage for tools, equipment and building supplies is also available for contractors. This type of business owners insurance coverage is available for owned, leased, rented or borrowed equipment, and your tools can be covered at replacement cost.

Business Liability Insurance Availability:

Call us today to learn more about a Business Owners Policy and to get a free quote. Business liability insurance may not be available in all states and situations.

Business Owners Insurance for Contractors:

Business Owners insurance (also known as a Business Owners Policy or BOP) for contractors protects you from a variety of risks on a job site. Business Owners insurance for contractors can be customized to your unique business liability insurance needs, whether you need the basic coverages required by a contractual agreement or a more comprehensive business insurance package.

Who Needs Business Owners Insurance for Contractors?

As a contractor, you are generally required to carry liability insurance that will extend to protect the interest of the property owner or the site general contractor, in case property damage or injuries take place at your job site.

Business Owners Insurance Basics for Contractors:
A Business Owners Policy for contractors includes the following basic coverages:
  • Contractors Liability – Provides protection if you cause bodily injury, property damage, or personal injury on a job site up to a certain limit           Example: One of your employees accidentally damages the plumbing in a building and causes water damage.
  • Blanket additional insured coverage – When required by contractual agreements, your liability coverage extends to protect the interests of the property owner during a construction project
Optional Business Owners Insurance Coverages for Contractors:

In addition to basic Business Owners Policy coverages for contractors, you can purchase additional coverages to provide more comprehensive business liability insurance coverage for your business. 

These coverages can include:
  • Limited property of others liability, including “faulty workmanship.”
  • Short-term pollution from pollutants at job site.
  • Building and business personal property at replacement cost.
  • Business income and extra expense when property is insured
  • And more…

Coverage for tools, equipment and building supplies is also available for contractors. It provides coverage for owned, leased, rented or borrowed equipment, replacement cost coverage on contractor’s tools, and installation coverage.

Business Liability Insurance Availability

Call us at today to learn more about a Business Owners Policy for contractors and to get a free quote.

Business Insurance Options: Customize Your BOP Policy

Customizing a BOP:

Protect your business from the risks of operating a business as well as your livelihood with business insurance coverage from us. We have business insurance options to meet your budget and unique business needs.

We can add special coverage options if your business:
  • Operates a fleet of vehicles
  • Has employees at potential risk for workplace injury
  • Is located in a hazard-prone area

How business insurance coverage works

BOP policies typically cover property and liability issues that most small companies face. It can also help you meet payroll if your business is interrupted by some unforeseen calamity such as damages to your building and equipment, as well as protect you if an employee or your product harms someone or their property.

Business insurance coverage options include the ability for small business owners to consolidate all of their insurance needs into one convenient policy.

Options for your business insurance coverage:
Auto insurance-

While BOP policies offer liability protection in the event that a customer is injured while visiting your premises or by your product, your business insurance coverage does not extend to the fleet of vehicles that your company owns. We offer auto insurance options for your business to keep you covered.

Worker’s compensation insurance-

If one of your employees gets injured on the job, your company can be legally responsible for his or her medical bills and wages during recovery. Insurance to cover worker’s compensation claims can be added to your business insurance policy.

Flood and earthquake insurance-

We can help you secure a flood policy through the National Flood Program. Also, earthquake coverage may be an option for your BOP policy.

Business Umbrella-

For increased protection a business umbrella policy may be the right business insurance option for you. Business umbrella insurance kicks in when the business liability limits in your other policies are maxed out.