Business Owners Insurance
Get Better Business Insurance with Lafayette Insurance
A Business Owners Policy (BOP) combines general liability coverage with business property. A business owners policy can protect you from perils such as advertising, bodily injury, theft, fire and more if the event occurs during the course of business. You can endorse your policy to include additional coverages like data breach or professional liability.
Combining business personal property with your liability is a cost effective way to cover your business compared to buying two separate policies.
Auto body, retail store, or florist… just to name a few businesses that would qualify for a business owners policy.
Prefer to talk? Call or text 765-474-2300.
Business Owners Insurance in Lafayette, Indiana
A business owners policy, or BOP, packages the core coverages most small businesses need into one policy, usually for less than buying each piece separately. Lafayette Insurance writes BOPs for shops, offices, restaurants, contractors and service businesses in Lafayette, West Lafayette and throughout Tippecanoe County.
What a BOP includes
- Commercial property: your building, if you own it, plus furniture, equipment, inventory and tenant improvements.
- General liability: protection if a customer is injured at your location or you damage someone else’s property.
- Business income: replaces lost income and helps cover ongoing expenses if a covered loss, like a fire, forces you to close temporarily.
Many BOPs can also be customized with options such as equipment breakdown, data breach coverage, hired and non-owned auto liability, employee dishonesty, and coverage for tools and equipment away from your premises.
Is a BOP right for your business?
BOPs are designed for small and mid-sized businesses with lower-risk operations, such as retail stores, offices, salons, restaurants, small apartment buildings and many trade contractors. Larger businesses, or those with heavier exposures, may be better served by a custom commercial package. We’ll look at your business and tell you which approach makes sense.
Why work with an independent agent?
Every insurance company defines BOP eligibility and coverage options a little differently. Because we represent multiple carriers, including ERIE, we can compare packages for you instead of fitting your business into one company’s box. We can also round out your plan with workers compensation, commercial auto and a business umbrella.
BOP FAQs
Do I need a BOP if I lease my space?
Yes. Your lease likely requires liability coverage, and your landlord’s policy won’t cover your equipment, inventory or improvements.
Does a BOP cover my employees’ injuries?
No. Employee injuries are covered by workers compensation, which is a separate policy.
Does a BOP cover my business vehicles?
No. Vehicles your business owns need a commercial auto policy.
Call 765-474-2300 to compare business owners policies for your Lafayette-area business.
What sets our business owners insurance companies apart
Companies we represent for business owners insurance include ERIE and Progressive. Each one has its own strengths, and these are some of the options available through them:
- Packages built for your industry: Pre-built packages are available for contractors, offices, restaurants, retail and services, wholesale and lessors.
- Food contamination: Restaurants can add coverage that pays to clean equipment, replace food, cover employee medical tests and replace lost income during a forced closure.
- Cyber coverage: Options cover data breaches, computer attacks, cyber extortion and identity recovery.
Features, limits and availability vary by company and policy. Ask us which options fit you.
Our process
Compare Quotes from Lafayette Insurance
01. Provide Details
Tell us a little bit about what you are wanting to insure.
02. Discuss Coverages
We educate you on insurance coverages relevant to you.
03. Compare Quotes
We shop multiple companies to find the best rates and protection.
04. Pick Your Policy
Choose the insurance plan that works best for your individual needs.
Lafayette Insurance Reviews
What our Clients Say
★★★★★
Joe and his staff are top notch. I never worry if I have an issue involving insurance. They are there to help make the experience worry free and professional. It’s worth your time to give Lafayette Insurance a call.
Stacey Minier
★★★★★
Tremendous support from Joe Couch. He was readily-accessible, diligent, and a tremendous help through the process of switching policies. Would recommend to everyone.
Daniel Layman
★★★★★
Joe Sr. and Jr. are both professional and do the very best they can to get you the best deal possible. They have reached out to me to let me know of opportunities to decrease my rates before my terms were up so I could plan accordingly. They always answer when I text or call with a problem. Can’t say enough good things about this company or the people running it!
Jon Chapin
★★★★★
Very professional and responsive. After calling several agencies in the area, our quote was 15% lower than anywhere else!
Devon Moore
★★★★★
Joe Jr. looks out for you. Initially he had me with one insurance agency. 1 year in and upon finding a new deal, he contacted me, helped me save some money, and found a more reliant insurance company for my family’s vehicles. He is personable and offers good advice without trying to overexert influence. I have not had to deal with a wreck yet and working through a claim, but I will update this post if it happens.
Isaac Schumacher
★★★★★
They are very nice and will find the best deal for you. They also follow up with you in the future to better you in better insurance for less.
Jasen Shaver