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Property Insurance

Property Insurance covers damage to physical assets and liability for bodily injury claims. It includes essential business protections such as Business owners Policies (BOP) and Workers’ Compensation coverage

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Business Owners Policy Application

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Rob Ferrini

Program Manager/Broker

Stephen Vono

Partner / Retail Manager

Comprehensive Property Coverage with BOP & Workers’ Compensation Insurance

Ensure your business is fully protected with a tailored Business Owners Policy (BOP) that combines essential property coverage and Workers’ Compensation insurance in one comprehensive solution. A BOP helps safeguard your business’s physical assets, including buildings, equipment, and inventory, against unexpected risks like fire, theft, or natural disasters. In addition, Workers’ Compensation coverage protects your employees by covering medical expenses and lost wages in case of a work-related injury or illness.

This combined coverage is designed specifically for small to medium-sized businesses, offering both financial protection and peace of mind. With a BOP and Workers’ Compensation insurance, you can focus on running your business knowing you have the right coverage to protect your operations and employees from unforeseen events. Let us help you customize the ideal insurance package for your business’s unique needs.

We partner with Hanover Insurance to provide the right Business Owners and Workers’ Compensation coverage, and you can easily reach our knowledgeable insurance advisors at the McGowan Professional Customer Service Center by calling 877-583-9039, Monday through Friday, from 7 a.m. to 9 p.m. Eastern Time.

Property Insurance Coverage Details

Property Coverage (BOP)

Our Business Owners Policy (BOP) provides comprehensive property coverage to safeguard your business’s physical assets. This includes protection for:

Buildings and Structures

Coverage for damage to your business property, including office buildings, warehouses, or other structures you own.

Business Equipment and Inventory

Protection for equipment, machinery, furniture, and inventory in the event of loss or damage due to fire, theft, vandalism, or natural disasters.

Business Interruption

In the event of a covered property loss, BOP can cover lost income and additional expenses incurred while your business is temporarily shut down due to damage.

Personal Property

Coverage for items not tied to a building, such as office furniture, computers, or inventory stored off-site.

Workers' Compensation Insurance

Workers’ Compensation insurance is designed to protect both your business and employees in the event of a workplace injury or illness. Coverage includes:

Medical Expenses

Payment for medical care and treatment if an employee is injured or becomes ill while working.

Lost Wages

Compensation for wages lost during the recovery period for employees who are unable to work due to injury or illness.

Rehabilitation Costs

Coverage for rehabilitation services, such as physical therapy, to help an injured employee recover and return to work.

Employer Protection

Workers’ Compensation helps protect your business from lawsuits related to workplace injuries by providing a no-fault system for handling claims

Professions we insure.

“McGowan Professional has been one of the easiest companies to work with. This year Fruci & Associates, PS acquired a subsidiary firm that performs PCAOB audits and attest services, which is work outside of the scope of our current accountants professional liability coverage.

Accountants & CPAs

Bookkeepers

Investment Advisors

Lawyers

Frequently asked about Property Insurance

Why you probably need to add hired and non-owned auto coverage to your policy?

State laws require commercial auto insurance for business-owned vehicles – but small companies often rely on vehicles they don't own. If your business uses personal, rented, or leased vehicles, hired and non-owned auto insurance (HNOA) can help.

HNOA protects against lawsuits from accidents involving personal, rented, and leased vehicles used for work purposes.

You may think carrying personal auto insurance is enough. However, personal auto policies won't cover lawsuits related to business use.

If you get into an accident while driving your personal vehicle for work, your personal auto policy will cover the damage to your vehicle only. You could be sued and have to pay for damages and legal expenses out of pocket.

What Is Workers’ Compensation?

Workers’ compensation, also known as “workers’ comp,” provides benefits to workers who become injured or ill on the job due to a work-related accident. Workers' comp covers medical costs, healthcare benefits, income for lost wages, educational retraining, and disability pay.

Workers’ compensation is a state government-mandated program, but the required benefits vary from state to state. Texas is the only state that does not require employers to maintain workers’ compensation insurance.

Texas Department of Insurance. "Are Employers Required to Have Workers’ Compensation Insurance in Texas?"

What Is a Business Owner’s Policy?

A business owner's policy (BOP) combines protection for all major property and liability risks in one insurance package. This type of policy assembles the basic coverages required by a business owner in one bundle; however, it is usually sold at a premium that is less than the total cost of the individual coverages. Business Owner's Policy (BOP): Definition, Coverage, Exclusions

Having a BOP is important because it can save you a significant amount of money in the long run. If your business has to file a claim, insurance will help you cover the expenses. Depending on your deductible and coverage limits, a claim that might otherwise cost thousands could cost only a few hundred dollars.

Without insurance, you would have to pay for the losses entirely out-of-pocket. Having just one costly claim could put an uninsured business in debt. If your company meets the business owner's policy requirements, it’s a smart investment for the future.

Hired and non-owned auto insurance

Hired and non-owned auto insurance (HNOA) provides liability protection for personal, rented, and leased vehicles that a company or freelancer uses for business purposes.