Insurance For Insurance Agents And Brokers

What type of insurance do I need for my Agency and Broker business?

Most Insurance agents and broker businesses have a Business Owner's Policy called a BOP. A BOP is a great becasue it combines three general insurance coverages and saves you money.

We recommend these products as a base:

• Business Owners Policy: A Business Owner's Policy (BOP) bundles two essential coverages: general liability and property insurance. This affordable insurance package protects you against the unexpected risks of doing business. It’s a great choice for small- to medium-sized busine
• General Liability Insurance: General liability insurance, also known as commercial general liability (CGL) insurance or business liability insurance, safeguards businesses from the financial repercussions that may arise due to bodily injury, property damage, and personal and advertis
• Professional Liability Insurance: Professional liability insurance, also known as errors and omissions insurance, can provide protection for your business if you are sued for negligence in the performance of services you offer to your customers.

How Much Does Insurance Agents And Brokers Insurance Cost?

• The size of your business
• How many employees work for you
• If you keep customers information stored in a data system
• If you have trucks or vehicles or tow equipment

Your Insurance agents and broker business may also need other types of business insurance, like:

• Commercial Auto Insurance: Commercial vehicle insurance is a policy of physical damage and liability coverages for amounts, situations, and usage not covered by a personal auto insurance policy.
• Commercial Umbrella Insurance: Business umbrella insurance is an additional layer of protection for businesses. It sits on top of other insurance policies and helps protect businesses against catastrophic losses.
• Cyber Insurance: Cyber insurance typically provides coverage for the liability of your business in the event of a data breach that compromises sensitive customer information, including Social Security numbers, credit card numbers, account numbers, driver's license numbers
• Workers Comp Insurance: Workers' compensation coverage guarantees the safeguarding of your business and employees by providing employee rehabilitation and death benefits in the event of a workplace injury or illness suffered by any of your employees.

Similar professions and Insurance Agents And Brokers business insurance?

• Actuaries
• Claims adjusters
• Insurance agents and brokers