Insurance coverages for business owners
Businessowners policy (BOP)
Markel Specialty's businessowners policy, EssentialBOP, combines the general liability and property coverages you need to cover your business. You can choose from three levels of coverage: Essential, Essential +1, and Essential +2. Pick the one that best fits your business and your budget.
|
Coverage |
Essential |
Essential +1 |
Essential +2 |
|
Accounts receivable |
$10,000 on premises |
$25,000 on premises |
$50,000 on premises |
|
Damage to premises rented to you |
$50,000 |
$100,000 |
$300,000 |
|
Electronic data |
$10,000 |
$25,000 |
$50,000 |
|
Employee dishonesty |
Not included |
$5,000 |
$10,000 |
|
Money and securities, inside the premises |
Not included |
$15,000 |
$25,000 |
|
Money and securities, outside the premises |
Not included |
$5,000 |
$10,000 |
|
Outdoor signs – attached |
$1,000 |
$2,500 |
$5,000 |
|
Outdoor signs – unattached |
$2,500 |
$2,500 |
$5,000 |
|
Valuable papers and records |
$10,000 on premises |
$25,000 on premises |
$50,000 on premises |
Property
Commercial property insurance for your business protects you when fire, theft, or vandalism damages or destroys your building or equipment. Property insurance also covers your intangible property, like accounts receivable, business income, and interruption of computer operations.
- Buildings – protects your building whether you rent or own
- Business personal property – protects your business contents and equipment at your office
Liability
Commercial general liability insurance, also known as general liability or business liability, is an essential coverage that can protect you from unexpected but not uncommon claims arising from your daily business operations such as bodily injury, property damage, and personal injury.
- Additional insured – by written contract, agreement, permit, or authorization
- Damage to premises rented to you
- Personal and advertising injury – caused by an offense
Commercial umbrella
Adding umbrella insurance to your businessowners policy can provide additional liability coverage and an extra layer of insurance protection. An umbrella policy is available to qualified customers for coverage over eligible businessowners polices for the following types of businesses:- Processing and services
- Personal care
- Office and professional services
- Medical offices
- Restaurants and eateries
- Retail
- Landscaping
Broader coverage, higher limits, all under one umbrella.
Workers compensation
A workers compensation insurance policy ensures that your injured worker’s medical and financial needs are met. Workers compensation insurance also protects your business by transferring risk to an insurance provider.
A Markel Specialty workers compensation policy covers expenses resulting from on-the-job injuries. As long as the injury occurs during the normal scope of job duties, workers compensation insurance benefits, such as lost-time payments and medical and rehabilitative services, are applicable including:
- Lost wages and benefits
- Medical care and rehabilitation services
- Legal representation and compliance services
Your Markel Specialty workers compensation policy also includes access to medical case managers. They will handle the claim for you and coordinate return-to-work and light-duty programs that control costs.
Employment Practices Liability (EPL) coverage
Add our optional Employment Practices Liability (EPL) endorsement to further protect your business from an employee claim against you such as sexual harassment or wrongful termination.
The EPL endorsement also gives you special access to Markel.EmployerProtection.net. At this easy-to-use site, you can view and download employment resources such as:
- A model employee handbook
- Best employment practices checklist
- Model forms and policies
- OSHA fact sheets
- An extensive online library of employment related articles
Insurance and coverage are subject to availability and qualifications and may not be available in all 50 states. Coverage may not be available for all business types. Contact a Markel Specialty agent for more information. Insurance is underwritten by Markel Insurance Company, Glen Allen, VA. Your policy is the contract that specifically and fully describes your coverage, terms, and conditions.
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Learn how affordable Markel Specialty's protection can be for your business.