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Business Owner | Business Property

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Get affordable low insurance quotes on Business Owner Insurance and Business Property. Get Free insurance quote now.


Call Washington and Co Insurance Agency in Cleveland, Ohio (216) 691-9227, or go online and fill out form and submit form, or email us with any questions or concerns. We are here to help you navigate through the quoting process.

What is Business Owner Policy or Business Property Insurance?

A Business Owner Policy or Business Property has been compared to a homeowner's policy for businesses. They were first developed in the 1970s and have become a very popular form of insurance for small to medium sized businesses. The policies combine some of the basic coverages needed by a typical small business into a standard package at a premium that is generally less than would be required to purchase these coverages separately. Business owners also like the simplified nature of the package as opposed to buying a collection of small policies. The efficiency also appeals to insurance companies and allows them to offer a lower premium for the package. A similar packaged product is also available for farmers.

Most of the coverages that are needed by small and medium sized businesses, with the exception of auto and worker's compensation, are generally included. This not only simplifies the process of buying the basic insurance coverages, but often gives a lower premium for businesses that qualify. The policies basically consist of property coverage, liability coverage and some additional types of coverage that most businesses require. Optional coverages can also be added to meet specific needs of the business.

Typically a Business Owner Policy or Business Property includes:


1. Property insurance covering buildings, equipment and inventory.
2. Business Owner interruption insurance covering losses that cause you to shut operations or reduce production for a time. Business Owner interruption insurance can provide money to offset lost profits or to pay continuing expenses typically for up to a year for insured losses.
3. Casualty or liability protection covering harm done by the employees or products to other people or their property.
4. Crime insurance covering loss of money or securities resulting from burglaries or robberies or destruction as well as losses from employee theft or embezzlement.
5. Liability insurance covering lawsuits arising from accidents as when someone trips and falls on your business's property or when you sell a product that damages the customer's property or you are accused of offenses such as slander, copyright or invasion of privacy.
6. Auto coverage for rented or borrowed vehicles.

If you have questions that are not addressed on our website, call Washington and Co Insurance Agency in Cleveland Ohio (216) 691-9227 or fill out form and submit the form to get quote on Business Owner Policy or Business Property Insurance needs.