If you are responsible for managing a commercial property or there are other special circumstances regarding the property, you might want additional coverage. In fact, optional policies are easy to add and can give you the peace of mind that comes with knowing you have complete coverage. Here are a few optional add-ons.
- Business Owners Policy (BOP): This is a bundled package that protects a small business. It typically includes property coverage, liability insurance, and business income insurance.
- Non-owned Liability Coverage: If you or your employees use a personal vehicle for business use, your personal auto insurance policy isn’t enough. This policy provides coverage when you use your car for business use.
- Worker’s Compensation: This is a requirement in Massachusetts if you have employees. Worker’s comp protects your employees in the event of an injury.
- Employee Dishonesty Coverage: This protects any business owner against employee theft. If your employees are responsible for collecting payments, this policy is good to have.
- Equipment Breakdown Coverage (Boiler and Machinery Coverage): This policy covers machinery or equipment breakdown and resulting property loss.
If you’re a property manager in the Greater Boston area and are unsure about your insurance coverage, get in touch with the independent insurance agents at LoPriore today. We’re standing by to answer your questions, share information about our available policies, or provide a quick quote for the policy you need.