Business Owners Policy-Serving Florida
As a business owner, you strive to make decisions that are right for your business, your employees and yourself. This includes decisions about business insurance. You know you need excellent coverage. You don't, however, have time to become an expert in business insurance. That’s where Oyer, Macoviak and Associates can help.
Frequently Asked Questions about Business Owners Insurance
Business owners' insurance protects your business's assets from covered losses and accidents. It usually includes property, liability, and other protection such as worker's compensation.
The amount you pay for business owners' insurance is based on the value of what you own, the amount of liability you have in case someone sues your business, and any risks your business has.
Your buildings and other property. General liability to protect against lawsuits for bodily injury or damage to another's property. Property warranties that pay for repairs if there are problems with the building or equipment. Uninsured and underinsured motorists' coverage, for accidents when the other driver doesn't have enough insurance. Worker's compensation coverages to pay employees if they're injured on the job, including medical care, disability checks, and death benefits for dependents.
Business owners' insurance can also include specialized coverage such as:
Pollution liability to protect your business from contamination claims. Business income insurance to pay for losses if your business must close due to a fire, vandalism, or other disaster. Equipment breakdown coverage that replaces equipment if it is lost or stolen.
Business owners' insurance doesn't cover business assets you personally use such as your car or computer and any personal property you own. Those risks are typically covered by homeowners' insurance.
The price of business owners' insurance depends on the value and type of assets you're insuring, your industry, your credit history and age among other factors. The more risk your business has, the higher the premium will be. You can lower costs by reducing your risk with safety precautions, security measures and employee training.
Depending on what your plan covers, you may need additional property insurance to pay for losses due to fire, windstorms, burglaries, and other disasters. You can also buy insurance to help with specific business risks such as lawsuits or employee wage and hour claims.
If you're a new business owner or just making changes in your business operations, be sure to tell your insurer about any changes that might affect your coverage, like hours of operation, new products or services, or changes in the numbers or types of employees.
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Business Owners Policy (BOP)
A Business Owners Policy (BOP) combines property, liability and business interruption coverage for small to medium-sized businesses. This packaged coverage is generally less expensive than when purchasing coverage separately. With a BOP you have the ability to customize the policy to meet your individual business needs.
Perhaps you need general liability coverage that includes operations. Or, you need to add business auto coverage or commercial property insurance. Whether you are a home-based business, small service provider or contractor, Oyer, Macoviak and Associates will work with you to find the right combination of business insurance coverage to meet your specific needs. Contact us today!
Supplemental Coverage Available
• Extended liability for additional insureds.
• Debris removal, personal property.
• Tools and equipment.
• Valuable records protection and accounts receivable.
In addition to advising you on the right coverage, we provide additional services, such as:
• Loss Prevention Programs—with our insurance company partners, we can evaluate your business's current conditions and recommend ways to lower property, auto, workers compensation or liability losses. Lower losses will not only lower your insurance costs, but also increase your productivity by avoiding downtime.
• Quick Claim Response—when you do have a claim and need fast and fair service, we work with you to make that happen. That's why we only represent companies with excellent records for settling claims fairly and promptly.
Business Owners Policy Companies We Proudly Represent
At Oyer, Macoviak and Associates we are not captive to one insurance company so we can shop the different insurance companies to give you the best coverage with the best rate.