Reliable Business Insurance in Massachusetts From LoPriore Insurance
The road to business ownership isn’t easy. You followed your dreams and spent years putting in the hard work to create a successful business.
Don’t let potential risks wash your dreams away. Protecting your business against potential disaster and liability risks can give you the protection and peace of mind you deserve.
Getting the right business owner’s insurance policy from LoPriore is fast and convenient, so you can get right back to taking care of your business.
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WHAT IS IT?
A business owner’s policy (BOP) is an insurance policy designed to protect your small business from potential risks. Further, this policy combines several coverage types to provide you with a custom plan at an affordable price.
WHY DO I NEED IT?
Every business faces risks. You can’t prevent natural risks that pose a threat to your property or the liability risks that come with operating a business. Indeed, accidents are unpredictable and can happen to anyone.
WHO IS IT FOR?
Any small to medium business can benefit from small business insurance. While the policy isn’t required by law, your landlord, lender, or vendors may require you to have coverage.

Business Insurance Coverage Details
There are many reasons every business faces risks. When you run a business, you’re responsible for employees, equipment, business property, and increased liability risks. Even if you’re working from your personal property with minimal employees, your standard personal insurance won’t cover your business risks. A business owner’s policy is designed to protect you against business-related risks and help you prepare when disaster strikes.
Business insurance can come in varying coverage levels, with some policies offering the bare minimum for businesses to operate, and others offering extensive protection to account for all possible risks. Thus, there is no one answer to what business insurance covers, as each of them is uniquely designed to protect your company from risks.
At a minimum, getting property and liability coverage is recommended for most businesses since these two covers some of the most common risks in the work setting. However, it is recommended to regularly review your business needs to see if your coverage needs will change as your business grows. Below, you will find more specific details on commercial property and liability insurance to give you a better idea of what is covered within these policies.
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.- Buildings and Business Personal Property: This provides coverage for the actual building, attached and unattached structures, outdoor fixtures, and permanently installed equipment. It also covers materials that maintain and service the business.
- Coverage Extensions and Additional Optional Coverage: Additional optional coverage is usually available to cover gaps in your commercial policy. Some coverage extensions may include earthquake, flood, agreed value on some buildings, fine arts, money and securities, spoilage due to temperature change, and business income and extra expense.
- Commercial Crime Coverage: Crime coverage protects your business against theft from burglary, robbery, or your employees. This coverage protects money and securities and stocks and fixtures both on and off the premises.
- Employee Dishonesty Coverage: This coverage protects an employer from financial loss or property loss due to fraudulent actions by employees.
- Equipment Breakdown Insurance: This optional coverage provides protection not usually included in a standard policy for all electronics systems including telephones and computers.
- Inland Marine Insurance: This provides coverage for property in transit, the property of others left in your control, employees’ property on-premises, contractors’ equipment, and other unusual property at a business location.
- Law and Ordinance: When a substantial part of your building is destroyed, local laws and ordinances may require you to demolish and rebuild the damaged portion to meet current building codes. This covers demolition, debris removal, and increased cost of construction to meet codes.
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 your business insurance plan may include.- Personal Injury or Advertising Injury: This covers injury that cannot be described as bodily injury including false arrest, malicious prosecution, invasion of privacy, and damage to reputation. Claims related to advertising may include libel or slander.
- Products and Completed Operations Injury: Product coverage protects you when claims are related to products manufactured sold or distributed by your business. Completed operations coverage protects against claims related to completed operations (or an item installed, built or distributed) by your business.
- Medical Payments: This covers medical expenses due to injury that occurs on the premises or caused by the insured’s operations. This payment is unrelated to liability coverage.
- Fire Damage Limit: Specific coverage for fire damage to rented premises due to your negligence.
- Liquor Liability: Coverage for bodily injury or property damage when you are liable for contributing to the intoxication of any person. Examples include furnishing alcoholic beverages to a person under the legal drinking age or under the influence of alcohol and violating any statute, ordinance, or regulation relating to the sale, gift, distribution, or use of alcoholic beverages. This coverage only applies if you are involved in the manufacture, sale, or distribution of alcoholic beverages, furnish alcoholic beverages for a charge, or provide alcoholic drinks for no charge if such activity requires a license.
Massachusetts Business Insurance Requirements
Businesses in Massachusetts are required by law to have workers’ compensation insurance for employees, regardless of the type of work or working hours. However, if you run a sole proprietorship, you do not need this insurance since you will not have any employees. Similarly, all company-owned vehicles in Massachusetts must be insured with commercial auto insurance, and drivers operating these vehicles should each have the state’s minimum automobile insurance. Commercial property insurance, on the other hand, is not a legal requirement for Massachusetts business insurance. However, if you are trying to secure a property loan for your business, your mortgage lender may require this as a precaution. Similarly, industry-specific insurance policies are also required for certain businesses due to the nature of the work. For example, businesses selling alcohol must get liquor liability insurance, while dry cleaners need more extensive liability policies as they handle clients’ garments.Recommended Business Insurance Policies in Massachusetts
Aside from the insurance coverage required by law, other insurance policies are highly recommended for businesses. Without ample business insurance in massachusetts, you will have to settle liability claims on your own and, in some cases, this can prove to be a huge financial burden.- Commercial Liability Insurance
- Commercial Property Insurance
- Business Owner’s Policy
- Employee Disability Insurance
How to Insure My Business?
Getting business insurance in ma starts with assessing your business and determining the level and extent of coverage it needs. The first thing you must consider is the minimum insurance required by law, which will vary based on the type of business you operate. Next, if you are working with lenders, you also have to account for possible insurance requirements. Finally, you must consider your budget to ensure that you can afford to pay your premiums regularly. We understand that getting a business owner’s insurance policy is not the easiest, so we strive to help you find the perfect policy to suit your needs. As a business owner, you will likely take all possible measures to ensure a safe working environment and the provision of quality products and services. However, in any business line, the risk is inevitable, so taking charge by investing in an insurance policy will protect 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.Get Insurance Coverage
Tailored To Your Business
Quote Request Form
Get Insurance Coverage Tailored To Your Business
Quote Request Form
Business Insurance FAQs
- Type of business
- Size of business
- Safety practices of the business
- Lastly, insurance provider
Business insurance is typically tax-deductible as long as you’re running a business, profession, or trade. Some exemptions apply, so, it’s important to read your policy carefully and talk to 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 a business to carry workers’ compensation on all employees no matter how many hours they work. Purchasing a Business Owners Policy is not mandatory per MA state laws but highly recommended.
Learn More About Business Insurance in Massachusetts
Business insurance can protect your hard-earned dreams from potential risks faced by any business. The LoPriore team provides insurance that fits your lifestyle. We take the time to understand your business needs to advise you about your the best Massachusetts business insurance plans.
To learn more about our policies, get a commercial insurance quick quote, or have your questions answered by one of our experienced agents, get in touch today.
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