Business Owners Insurance

Business owners insurance, when combined into a single policy/package is often referred to as a BOP. It ties together coverage for the business property, building, liability coverage and even coverage to protect against loss of earnings due to a business interruption in a single policy. There are many other factors that our agency will factor into your policy or policies to make sure they fit the needs of your individual business. Don’t be left without the right coverage. Here's an overview of some possible components of a business owners insurance policy or policies:

Protects the physical assets of the business, including buildings, equipment, inventory and furniture against perils such as fire, theft, vandalism, and certain natural disasters.

Covers the business in the event it is found legally responsible for bodily injury or property damage to others. This includes legal defense costs and any settlement or judgment awarded.

Provides coverage for lost income and certain operating expenses if the business is temporarily unable to operate due to a covered peril (e.g., fire or other property damage).

Extends coverage to items such as tools, equipment, and inventory, whether they are on-site, off-site, or in transit.

Protects against third-party claims of bodily injury, property damage, and personal injury (such as defamation or copyright infringement). It is a fundamental coverage for businesses to protect against common liabilities. It’s often referred to as GL or CGL (Commercial General Liability). The vast majority of businesses have a GL policy or package that includes liability.

Safeguards the business against financial losses resulting from crimes like theft, burglary, or employee dishonesty.

Addresses the risks associated with cyber threats, including data breaches and other cybercrimes. This coverage can help with the costs of notifying affected parties, legal expenses, and restoring compromised data.

Covers vehicles owned or used by the business for work-related purposes. It includes liability protection and coverage for physical damage to the vehicles.

Also known as Errors and Omissions (E&O) insurance, this coverage protects businesses that provide professional services from claims of negligence, mistakes, or inadequate work.

Provides coverage for medical expenses and lost wages if an employee is injured or becomes ill while performing work-related duties. It also protects the business from potential lawsuits by employees.

Protects the business if errors occur in the administration of employee benefits, such as health insurance or retirement plans.

Covers the cost to repair or replace equipment that breaks down due to a covered peril, such as power surges or mechanical failure. When considering Business Owners Insurance, it's crucial for business owners to assess their specific needs and risks, as coverage can vary based on the industry, location, and size of the business. Working with an insurance professional can help tailor a BOP to meet the unique requirements of a particular business.

Provides coverage for employment related claims made by employees due to allegations of discrimination, wrongful termination, harassment, breach of contract, unfair promotional or career opportunities and mismanagement.

Contact Wornicki DelVecchio Insurance, Inc. today for your free business owner’s insurance quote(s).