Small Business Owners Insurance

Businessowners Insurance in Massachusetts

As the owner of a small or medium-sized business in Massachusetts, you certainly must feel like you’re faced with a never-ending list of tough choices every day as well as one significant business expense after another. So, you’re probably assuming that securing business insurance will be an equally challenging – and expensive – decision and buying process. But, what if it doesn’t have to be either?

In fact, what if we told you that you could call a local Boston insurance agent today and get your property, liability, business income, and other small business insurance options bundled into one package policy all at an affordable rate? It’s a decision that can actually save you time and money – now that probably sounds like an excellent idea, right?

Lighthouse Insurance would like to introduce you to the Businessowners Policy

This powerful policy, also known in the industry as a “BOP,” provides you with the following three vital insurance requirements every business owner needs, in an all-in-one policy:

• Business Property – this includes a variety of coverages for everything from completed additions, fixtures, permanently installed machinery and equipment, personal property owned by you or property owned by others for which you are liable, and much more.
• Business Income and Extra Expense – the Business Income portion of this coverage, also known as Business Interruption, is designed to provide you with a revenue stream if you ever need to close your business due to a covered peril, such as a fire, vandalism, or natural disaster. The Extra Expense portion of this coverage could also reimburse you for any additional expenses you may incur while you are rebuilding or repairing your business, such as additional rent you may need to pay to relocate to a temporary office space.
• Business Liability – this broad coverage could protect you and your company from a legal claim against you or an employee for harm caused to others. It also covers claims against your company for property damage due to defective products, faulty installations, or an error you or an employee may have made when providing a service to another company or individual.

With its broad – and budget-wise – coverage, a BOP can be a good fit for a wide variety of business owners. From entrepreneurs still in their early start-up days to well-established companies who have been in operation for years, this multi-line policy can protect almost every aspect of your business in one package.
However, we do want to point out a few additional insurance options that you may require, but may need to be purchased separate from this package policy, including:

• Commercial Auto Insurance
• Workers’ Compensation Insurance
• Professional Liability
• Liquor Liability

Lighthouse has several top-quality insurance partners that offer customized packages for small to medium-sized businesses like yours. Our team is happy to consult with you to see if a broader program is a better fit for your business needs.

Lighthouse knows the ins-and-outs of business insurance for small and medium-sized companies

Our commercial team is made up of smart insurance professionals whose primary focus is to build a long-lasting partnership with you, which is why we begin each new relationship by asking fundamental questions about your business operations, assets, employees, risk tolerance, and more. This inquiry not only helps us understand your company in depth, but also will enable us to determine whether a BOP is the best fit for your business.

Specifically, we may ask:

• How many employees do you have?
• Do you own or lease your business location?
• If you use vehicles for business purposes, how many?
• Do you sell or distribute products, provide services, or offer advice to your customers?
• If you are in food service, do you serve alcohol?

Listening to you answer these questions, along with a few others specific to your business and industry, is not just a first step in us getting to know you better. It also allows us to find a businessowners policy that gives your company the protection it requires, at a rate that you can afford, from one of the many top insurance carriers that partner with Lighthouse Insurance.

If you are ready to begin a relationship with an insurance professional who will offer you straight talk, personalized insurance solutions, and exceptional customer service, then look no further than Lighthouse Insurance. Contact us today to set up a consultation with an experienced member of our commercial insurance team.