BUSINESS INSURANCE

We at BIS understand how much time, money and effort it takes to build and manage a successful business. Protecting your company from losses beyond your control or extended down time is a responsibility we take very seriously. We offer coverage in many areas for your business such as general liability, property, workers compensation, bonds, employee benefits, directors and officers and many more.

What does the Business Owner Insurance covers?

Insurance companies selling business insurance offer policies that combine protection from all major property and liability risks in one package. (They also sell coverage separately.) One package purchased by small and mid-sized businesses is the business owners policy (BOP). Package policies are created for businesses that generally face the same kind and degree of risk. Larger companies might purchase a commercial package policy or customize their policies to meet the special risks they face.

Business Owner Package ( BOP ) is a most cost-effective policy with several options to choose:
BOP Property Insurance provides broad protection for your building and business personal property and includes as "standard" many features other policies don't, such as coverage for valuable papers and records, employee dishonesty, and loss of business income. Coverage can be tailored to address special concerns, such as flood and earthquake risks.

BOP General Liability Insurance protects against the financial damage inflicted by third-party liability claims, including claims for bodily injury, property damage, personal and advertising injury, arising from your client’s products, operations, or premises. It automatically addresses medical expenses and certain legal liability arising from damage to premises your clients rent. Numerous options let you pick-and-choose additional coverage for everything from Employee Benefits Liability to Hired and Non-Owned Auto liability.
A BOP policy may include, or you may be able to select as an option;

• Outdoor Sign Insurance
• Money and Securities Insurance
• Employee Dishonesty Insurance
• Water Back Up Insurance

Not all businesses are eligible for a BOP policy. If you business has any of the following characteristics you may not be eligible for a BOP. But don't worry, we can assist you with obtaining other forms of commercial insurance. Characteristics typically not eligible for a BOP policy include:

• Large Premises Operations
• High risk or highly specialized operations
• Majority of business conducted off-premise
• Requires liability limits higher than offered with a BOP

Typically a BOP policy is very competitively priced, however remember the BOP does not provide coverage to items such as Workers' Compensation (link to page), Professional Liability Exposures or Commercial Auto Insurance.
Commercial Umbrella elevates coverage limits above and beyond the BOP general liability coverage part to provide higher levels of protection for catastrophic losses.
Professional Liability Insurance addresses damages and defense costs in covered claims resulting from actual or alleged errors and omissions in professional services.
Employment Practices Liability Insurance (link to page) responds to certain damages and defense costs in covered employee-initiated claims of sexual harassment, discrimination, and wrongful termination. Insured's also get access to the nation's premier employment practices attorneys to defend employment-related lawsuits.

If you're running a business from your home, you may not have enough insurance to protect your business equipment. A typical homeowners policy provides not enough coverage for all of your business property. You may also need coverage for liability and lost income as well. Insurance companies differ considerably in the types of business operations they will cover under the various options they offer. So it's wise to shop around for coverage options as well as price.

To insure your business, you have three basic choices, depending on the nature of your business and the insurance company you buy it from. They are:

Homeowners Policy Endorsement.

You may be able to add a simple endorsement to your existing homeowners policy to double your standard coverage for business equipment such as computers.
You can also buy a homeowners liability endorsement. You need liability coverage in case clients or delivery people get hurt on your premises. They may trip and fall down your front steps, for example, and sue you for failure to keep the steps in a safe condition.
The homeowners liability endorsement is typically available only to businesses that have few business-related visitors, such as writers. But some insurers will provide this kind of endorsement to piano teachers, for example, depending on the number of students. These endorsements are available in most states.

In-Home Business Policy/Program.

An in-home business policy provides more comprehensive coverage for business equipment and liability than a homeowners policy endorsement. These policies, which may also be called in-home business endorsements, vary significantly depending on the insurer.
In-home business policies generally include broader liability insurance for higher amounts of coverage. They may offer protection against lawsuits for injuries caused by the products or services you offer, for example.
In-home business policies are available from homeowners insurance companies and specialty insurers that sell stand-alone in-home business policies.