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Business Owners Insurance

Business Owners Insurance - Main Page
Relax, Your Business is Covered with a BOP!

Starting and running a business is no easy feat. You’ve pursued your dreams and dedicated years of hard work to build a thriving enterprise. Don’t let unforeseen risks wash away all your efforts and aspirations. Safeguarding your business against potential disasters and liabilities provides the protection and peace of mind you truly deserve.

At LoPriore Insurance, obtaining the perfect business owner’s insurance policy also called a BOP is quick and hassle-free, so you can focus on what matters most – taking care of your business.

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Massachusetts Business Insurance
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Massachusetts Business Insurance
Lopriore Insurance Agency

Business Insurance - Service Page Image

At LoPriore Insurance, we understand that running a business comes with its share of risks and uncertainties. That’s why we offer comprehensive Business Insurance solutions to safeguard your venture against potential challenges. Our expert team is dedicated to tailoring coverage that fits your unique needs, ensuring protection for your assets, liabilities, employees, and future growth.

From property and general liability insurance to professional liability, workers’ compensation, and more, our extensive range of insurance options is designed to keep your business safe from unforeseen events. With our trusted partnerships with leading insurance providers, we bring you top-notch policies that grant you peace of mind, allowing you to focus on what truly matters – building and nurturing your business.

In the face of unexpected incidents, LoPriore Insurance is your reliable ally, ready to assist you in securing your path to success. Let us help you navigate the intricacies of business insurance so you can confidently take your business to new heights, knowing that we have you covered.

Insurance Types For Business

Business Owners Insurance - BOP

Commercial Package Insurance

Commercial Auto Insurance

Workers Compensation Insurance

Commercial Umbrella

Professional Liability Insurance

Cyber Liability

EPLI Insurance - Employees Practice Liability Insurance

Bonds

Inland Marine Insurance

Insurance Types For Business

Business Owners
Insurance - BOP

Commercial Package Insurance

Commercial Auto Insurance

Workers Compensation

Commercial Umbrella

Professional Liability Insurance

Cyber Liability

EPLI Insurance

Inland Marine Insurance

Understanding the Importance of
Business Insurance

Business insurance is essential for protecting your company from various risks and potential liabilities. It provides coverage for property damage, bodily injury, legal claims, and other unexpected incidents, ensuring your business is financially secure and can continue to thrive even in challenging circumstances.

What is It?

A Business Owners Policy, or BOP, is an insurance policy designed to protect your small business. It bundles together a few of the key coverages most businesses need, like property insurance (for your physical assets), general liability insurance (if someone sues you), and business interruption insurance (if you have to close shop temporarily). 

Why Do I Need It?

Business insurance is crucial as it protects your investment by minimizing financial risks associated with unexpected events like a natural disaster, a customer lawsuit, or a sudden business interruption. It's a safety net that keeps your business afloat in a sea of potential uncertainties. 

Who Is It For?

Business insurance is designed for anyone who runs a business - big corporations, small startups, home-based businesses, or solo entrepreneurs. It's your financial safeguard against a range of potential business risks and unexpected events. While the policy isn’t required by law in Massachusetts, your landlord, lender, or vendors may require you to have coverage. 

How To Insure My Business

Business Insurance - How To Insure Business

Getting business insurance in MA starts with assessing your business and determining the level and extent of coverage it needs. If you are working with lenders, you’ll need to secure coverage to match their insurance requirements. Consider your budget to ensure that you can afford to pay your premiums regularly. As a conscientious business owner, you will likely take all possible measures to ensure a safe working environment and work with quality products and services. However, in any business line, risk is inevitable, so there is wisdom in properly protecting your business from such perils. If you own a small or medium business, you will likely be in charge of assessing risks and variables to determine the best insurance coverage. As this process can be overwhelming, our team is here to help you through every step and guide you in making your decision.

Tips for buying Business Owners Insurance

When buying business owner’s insurance, also known as a Business Owner’s Policy (BOP), it’s essential to make informed decisions to ensure your business is adequately protected. Here are some tips to consider:

Assess Your Coverage Needs
Begin by evaluating your business's unique risks and needs. Consider factors such as the type of business you run, the size of your company, the value of your assets, the number of employees, and the potential liabilities you may face. This assessment will help you determine the right coverage limits and types of insurance you require.

Consider Add-On Coverages
Depending on your business's specific needs, you may require additional coverages beyond what a standard BOP offers. These could include business interruption insurance, employment practices liability insurance (EPLI), cyber liability insurance, professional liability insurance, or commercial auto insurance. Tailor your insurance package to address potential risks unique to your business.
Work with an Experienced Agent/Broker
An insurance agent or broker who specializes in commercial insurance can be a valuable resource. They can help you navigate the complexities of insurance policies, identify potential coverage gaps, and recommend appropriate coverage for your business.

How much does Business Owners Insurance Cost?

Condo Unit Insurance -Cost

Once you’ve determined the necessary amount of insurance coverage for your condo, the next logical question is, “How much does it cost?” In Massachusetts, the average annual condo insurance rates are approximately $759. However, this cost can vary based on several factors, including the size of your condo, its location, and the level of coverage you choose. To get an accurate quote tailored to your specific needs, contact us today. We’ll help you find the best condo insurance at a competitive rate, providing you with the peace of mind you deserve.

Factors that Affect The Cost Of Business Insurance

Understanding the factors that influence business insurance costs is crucial for making well-informed decisions about protecting your business assets. Once you have identified the necessary coverage, it’s essential to be aware of the associated expenses. Let’s explore the key factors that can influence business insurance rates, enabling you to secure the right coverage while managing costs effectively.

Deductibles
Risk Profile
Coverage Type
And Limits
Business Size
Location
Claim History
To Learn More
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Deductibles
Risk Profile
Coverage Type
And Limits
Business Size
Location
Claim History
Click On Factors
To Learn More

Safeguard Your Business
Explore Business Insurance Coverage Today!

Is your business fully shielded from unexpected risks and liabilities? Don’t leave your hard work and investments exposed! Secure the future of your enterprise by looking into business insurance coverages to best suit your needs

Business owners policy vs. commercial package policy

When it comes to safeguarding your business, understanding the insurance options available is crucial. Two common types of insurance packages are the Business Owners Policy (BOP) and the Commercial Package Policy (CPP) and both are designed to protect your business 

Business Owners Policy (BOP)
BOP is suited for small to medium-sized businesses and comes pre-packaged with basic coverage like property insurance, business interruption insurance, and liability insurance. Think of it as a one-size-fits-all solution, covering standard business risks in a straightforward, easy-to-manage policy.
Commercial Package Policy (CPP)
A CPP, on the other hand, is more like a tailor-made suit - it can be customized to perfectly fit the needs of any business, including larger or higher-risk operations. With a CPP, you can handpick specific coverages, potentially adding more specialized policies that a standard BOP doesn't include.

In conclusion, while a BOP offers simplicity and broad coverage for smaller businesses, a CPP provides flexibility and comprehensive protection for larger or more complex enterprises. An insurance professional can help determine which policy best fits your business’s unique needs.

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Policy Comparison Submission
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What’s The Advantage of Comparing My Insurance Policy?

When you send us a copy of your policy, our team has an opportunity to get a snapshot of your current insurance coverage, discounts, and added riders on your existing insurance policy.

Where Do I Find a Copy of My Insurance Policy?

Insurance companies send you a copy of your insurance policy annually and if any changes to your policy have been made during the year. However, if you are unable to locate your policy, your insurance company or insurance agent should be able to send you a duplicate copy via email, fax, or mail.

What Happens When You Upload Your Policy?

Once we receive your uploaded policy one of our team members begins reviewing your policy. We will then contact you to discuss your coverage options. Every insurance company has different underwriting guidelines and offers different coverages and rates. Be advised while we try our best to quote with the information provided it still may be necessary to obtain additional information from you to prepare the most accurate rate.

Protect Your Business
Secure Your Peace of Mind

Request Your Business Insurance Quote Today

Don’t let risks threaten your business’s success. Shield your company from potential losses and liabilities with tailored business insurance solutions. Contact us today to discuss your needs and find the right coverage to safeguard your business’s future.

Business Insurance Coverage Details

Business risks come in many varieties. When you run a business, you’re responsible for employees, equipment, business property, and increased liability risks.  A business owner’s policy is designed to protect you against business-related risks and help you prepare should disaster strike. Most businesses are advised to have property and liability coverage as it provides protection against the most common risks encountered in the workplace.

Commercial Property Coverages

Your business contains a significant amount of valuable property to keep things running smoothly. Commercial property coverages provide protection for real property (land and buildings) and personal property (everything else) at the premises of your business. Deductibles usually apply. Your business insurance can provide you with the following commercial property insurance coverage.

Building
This covers the actual building, attached and unattached structures, outdoor fixtures, and permanently installed equipment. It also covers materials that maintain and service the business.
Business Personal Property
Business Personal Property coverage is an insurance policy that protects a company's movable assets and possessions, such as furniture, equipment, inventory, and machinery, from various perils like fire, theft, or vandalism. This coverage is essential for businesses to safeguard their physical assets and ensure financial recovery in case of unforeseen damages or losses.
Business Owner-Insurance -Personal Property Buildings

Commercial General Liability Coverages

General liability insurance provides crucial coverage for bodily injury or property damage for which you’re legally responsible as a business owner. Further, this coverage can take care of claims related to accidents on or off the property, medical expenses, and some legal expenses. Here are some of the liability coverages a business insurance plan may include.

Commercial Liability Insurance
Protects businesses from financial losses arising from third-party claims for bodily injury, property damage, or personal injury. It provides essential protection against legal expenses and potential settlements, helping businesses mitigate the financial risks associated with lawsuits and liabilities.
Medical Expense
Medical Payments coverage in business insurance provides reimbursement for medical expenses incurred by third parties who are injured on the business premises or as a result of the business's operations, regardless of fault.
Fire Damage Liability
Protects businesses from the financial consequences of unintentional fire damage to third-party properties. It covers the costs of repairs or replacements for damaged property and potential legal expenses in case of liability claims arising from fire incidents caused by the insured's premises or operations.
Products / Completed Operations
Covers businesses from liability claims related to injuries or property damage caused by their products or completed work. It provides financial protection against legal expenses and potential settlements, helping businesses mitigate the risks associated with product defects or completed operations that may lead to harm or damages for third parties.
Personal Injury or Advertising Injury
Protects businesses from claims related to non-physical injuries caused by their advertising practices or certain business activities. It helps businesses defend against legal actions and covers settlement costs, up to the policy's limits, if they are found liable for such offenses.
Advertising Injury

Additional Coverage Options

Coverage extension options for business insurance refer to additional endorsements or add-ons that businesses can include in their insurance policies to enhance their coverage. These extensions provide specific protections beyond the standard policy that personalized to meet the needs and risks of the business. Click below to learn more about each additional coverage option.

Business interruption coverage, also known as business income coverage, is a type of insurance that helps businesses recover lost income and cover ongoing expenses when their operations are interrupted or suspended due to a covered event, such as a fire, natural disaster, or other insured perils. It typically compensates for the profits that would have been earned during the period of interruption, allowing the business to maintain financial stability and resume normal operations as quickly as possible.

Equipment breakdown coverage, a component of business insurance, provides financial protection against the cost of repairing or replacing vital equipment that breaks down due to mechanical or electrical failure. It helps businesses resume operations quickly and mitigate potential losses resulting from equipment malfunctions, ensuring continuity and minimizing business disruptions.

Ordinance or Law coverage is insurance that protects businesses from the financial consequences of equipment failures and helps cover the costs of complying with building codes or ordinances when replacing damaged equipment.


Employee Dishonesty coverage is a type of insurance that protects businesses from financial losses resulting from fraudulent or dishonest acts committed by their employees. This coverage helps businesses recover losses caused by employee theft, embezzlement, or other dishonest actions that may harm the company’s finances or reputation.


Food Spoilage Coverage is an insurance policy that provides protection for businesses, such as restaurants, grocery stores, or food manufacturers, against financial losses due to spoilage or contamination of perishable food items caused by power outages, equipment breakdowns, or other covered perils. This coverage helps businesses recover the costs of replacing spoiled food inventory, ensuring they can continue their operations smoothly after such incidents.


Water-Back up Coverage is an insurance add-on or endorsement that provides protection for property damage caused by water or sewage backing up into a building through drains, toilets, or sump pumps. This coverage helps businesses recover losses from water-related incidents that may not be covered under standard property insurance policies, offering financial security against unexpected water damage.

Earthquake coverage is insurance that protects properties from damage caused by earthquakes, offering financial security for repairs and replacements not covered by standard property insurance.


Liquor Liability insurance is a specialized coverage for businesses that sell or serve alcohol, protecting them from legal liabilities arising from alcohol-related incidents. It covers potential claims and expenses resulting from intoxicated customers causing harm to themselves or others, ensuring businesses can manage risks associated with alcohol sales responsibly.


Professional Liability insurance protects professionals and businesses from financial losses due to claims of negligence or errors in the services they provide. It is essential for safeguarding against legal liabilities arising from mistakes in professional work.

Extra Protection, Extra Peace of Mind

Don’t leave your business vulnerable to risks. Safeguard your assets and ensure peace of mind with reliable business insurance coverage. Get a personalized, no-obligation quote today and protect what matters most to your business!

Quote Request Form

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Business Insurance FAQs

The cost of business insurance can vary widely. Here are a few factors that determine the cost of a business insurance policy.

  • Type of business
  • Size of business
  • Safety practices of the business
  • Insurance provider

Business insurance is typically tax-deductible. Some exemptions apply, so it’s important to read your policy carefully with your tax preparer.

If you have the proper liability in place and the cost doesn’t exceed your coverage limits, your business insurance will protect you in a lawsuit. Some exclusions apply. Additionally, coverage, like a commercial umbrella policy, can extend your liability coverage.

Massachusetts law requires businesses with employees to carry workers’ compensation. Purchasing business insurance is not mandatory per state laws but highly recommended.

Your insurance agent can supply you with a certificate of insurance (COI) that summarizes the terms of your business insurance.

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