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Who needs insurance agent's insurance?
Hiscox provides liability insurance for insurance agents because we understand the unique risks you face in your own business. As an insurance agent, you make sure your clients are protected against risk. Hiscox understands the risks involved in owning and operating a small business, so we customize insurance agents’ coverage for your specific business needs.
Insurance agents and other professionals like you should consider our other coverage offerings.
Example professions we also insure
Policies available for insurance agents
Professional Liability Insurance
Professional liability insurance, sometimes called errors and omissions insurance (E&O insurance), is insurance coverage for claims against businesses that provide professional and personal services – for insurance agents, like you.
When is it important to have professional liability insurance? Examples relevant to insurance agencies include:
- Negligence: A client instructs his insurance agent to purchase a policy and gives the agent a check for the premium, but the agent forgets to purchase the policy. The client, left uninsured, is later involved in an accident. The client demands that his insurance agent pay for the loss.
- Dissatisfied client: An insurance agent sells a homeowners policy for a vacation home on the beach and advises the client that it is an all-perils policy. A few months later, a hurricane makes landfall in the area, causing wind damage to the roof of the house. The homeowner’s insurer denies the claim because the policy the agent sold excludes wind damage. The client demands that the insurance agent pays for the damages.
General Liability Insurance
General liability insurance could protect your business from another person or business’s claims of bodily injury, associated medical costs, and damage to property.
Having general liability coverage as part of your agency’s insurance plan is beneficial in several instances, including:
- Bodily injury: A client comes to an insurance agent’s office on a rainy day and slips on the floor in the waiting area, breaking her hip. She makes a claim for medical costs. A general liability policy may cover these costs, up to the limit of liability.
- Property damage: An insurance agent goes to a client’s office to take a policy application. While she is there, she knocks an expensive collectible off a shelf and it breaks. The agent’s general liability policy may cover the cost to replace the item, up to her limit of liability.
- Personal injury: While at lunch, an insurance agent's receptionist talks to the owner of the deli about a client in a false and unflattering way. The client learns of this conversation and sues for slander. A general liability policy may cover the subsequent claim up to the limit of liability, and pay for an attorney if necessary.
The unexpected does happen, and it’s best to be prepared. Request an insurance agency insurance quote today.
We are here to help guide you through the process of finding the right coverage for your business. Learn more about general liability insurance.
Business Owners Policy (BOP)
Insurance agents should also consider a business owners policy. BOP is a combination of general liability and business property insurance and is often used to provide balanced coverage for small businesses who also want to protect their own equipment.
Some examples of what could be covered under BOP for insurance agents include:
- A pipe bursts at an insurance agent’s office and causes water damage to their computer and office furniture. A business owners policy protects their business personal property (BPP), covering the cost to replace the damaged computer and furniture.
- A fire damages an insurance agent’s office, destroys all their equipment and makes the space unusable during repairs. A BOP that includes business interruption coverage could protect the agent from costs associated with loss of business.
These are only a few real-world examples of how a business owners policy can help protect insurance agents. Learn more about business owners policies or contact us with any questions.
Why do Insurance Agents choose Hiscox?
- Fast and simple: Online quotes or speak to a licensed agent – immediate coverage for insurance agents.
- Confidence: Hiscox Insurance Company Inc. is ‘A’ rated (Excellent) by A.M. Best. You’ll feel more confident every day knowing that your business is protected in case a claim is made against you or your insurance agency.
- Passion for service: Agents knowledgeable about insurance specific business concerns will provide you with excellent service – 4.7/5 of people surveyed recommended us. Read some of the customer reviews on our website to get a better sense of why we’re a top choice for insurance agencies.
- Coverage for contracts: Our professional liability coverage satisfies most standard contract insurance requirements. Let us handle the details of your agency’s insurance so you can focus on your area of specialty.
Get a fast, free quote now and get that Hiscox confidence behind your business. If you prefer, you can call us at 1-866-283-7545 and speak with a Hiscox licensed agent, Monday – Friday, 7am – 10pm ET.
Hiscox Customer Reviews
Damien, Overland Park, KS
“Very easy and affordable”
Mike, Toms River, NJ
Yes I would and I tell other techs about Hiscox all the time.
Calvin, Galax, VA
Hiscox is giving every small business a fighting chance to be successful. Thanks.
Sheldon, Stone Mountain, GA
Was very easy to talk to and get policy started
Gary, Royal Oak, Michigan
So seldom do you deal with an online company that works so hard and fast , to answer all your questions and concerns and sends your policy back with the utmost professionalization that I received. I would recommend this company to anyone needing their services.
This information is provided to assist you in understanding the coverage we offer and does not modify the terms and conditions of any insurance policy, nor does it imply that any claim is covered. Coverages are subject to underwriting and may not be available in all states.