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Business Insurance For Professional Firms

If you are a real estate agent or architect, or own a professional firm (such as an advertising agency or legal firm), your clients likely put a lot of trust in you. With quality coverage in a business insurance policy from Allstate, you can have peace of mind and help protect a business your clients rely on.

Types of Insurance For Professional Firms

Below are coverages that may be available for your business. An Allstate agent can also help explain what coverages are standard and which are available as add-ons so you can craft a business owners policy (BOP) that fits your needs. Some coverages are subject to deductibles and limits.

Property Risks

Damaged Documents

A pipe bursts and leaks over a filing cabinet that contains critical documents. Many documents are damaged and others are completely destroyed.

Allstate Coverage

Valuable Papers And Records

This helps cover the cost of restoring important business documents that are damaged or destroyed by a covered loss. This coverage is included in the basic BOP and can be increased if you opt for additional coverage.

Billing Records Are Destroyed

There is a fire and your company's billing records are destroyed. This makes it difficult for you to collect payments from customers.

Accounts Receivable Protection

This covers the increased cost of collecting payments and the expense of reestablishing the records of accounts receivable.

Employee Dishonesty

Your business receives checks, credit card payments and sometimes cash for work that you do. When reviewing the receipts for the week, you notice that the deposits were lower than usual.

Employee Dishonesty Coverage

This coverage helps pay for a loss if an employee steals money or property from your business. It is typically an optional coverage.

Computer Hack

It is discovered that someone hacked into your bank account and transferred funds out of your account.

Computer Fraud And Funds Transfer Fraud Coverage

These optional coverages kick in if someone uses a computer to fraudulently transfer money, securities or other property to someone else.

Building Or Property Damage

If your business building or business property are destroyed due to a covered loss, such as a fire or theft, costs could add up quickly.

Business Building/Personal Property Coverage

This coverage pays to repair or replace your owned business building and/or your business personal property, up to the limits you select.

You Can't Open Your Business

Your business is damaged due to a fire and you cannot operate until repairs are made.

Business Income And Extra Expense Coverage

This coverage helps with loss of income and fixed expenses, such as rent or payroll, while your business is temporarily closed for repairs after a covered loss.

This coverage provides your business with up to 12 months of coverage.

Computer Virus Attack

You get an email from a client, but you open it to discover that it contains a virus.

Electronic Data Coverage

These optional coverages kick in if someone uses a computer to fraudulently transfer money, securities or other property to someone else.

This coverage is included in a basic BOP, but you have the option to increase coverage limits.

Liability Risks

Injury Lawsuit

You are sued because somebody was injured after slipping on a recently mopped floor at your business.

Allstate Coverage

General Liability Protection

This provides coverage for injury to others at your premises and helps protect you from lawsuits filed against you.

Client Lawsuit

A client follows your advice, but it does not turn out the way they expected, and they sue you.

For example, you're a real estate agent and list a home for sale at the incorrect price. A buyer makes an offer but sues you after the error is identified and the price is increased.

Miscellaneous Professional Liability/Errors And Omissions Coverage

This covers legal obligations arising out of professional errors, negligent acts or omissions during the course of practicing your profession.

Wrongful Termination Lawsuit

A former employee sues you for wrongful termination.

Employment Practices Liability Coverage

This provides coverage and support in the event of a lawsuit related to wrongful termination, sexual harassment or discrimination. This is typically an optional coverage.

Customer Data Loss Or Theft

Customers' confidential personal and financial data that you maintain is lost or stolen.

Data Compromise Coverage

This optional coverage provides case management, legal support, credit monitoring and legally required notifications after customer data is affected.

Auto Risks

An Employee Causes An Accident

While performing work for you, your employee gets into an accident and causes injury or damage to another person or their property. You could be held liable.

Allstate Coverage

Liability Protection

This coverage helps pay for someone else's medical bills and/or repairs to their vehicle, even if it's due to your employee's negligence.

Vehicle Damage

Damage to your vehicle, whether your driver was at fault or not, can result in unexpected repair bills.

Collision Coverage

This protection pays to repair damage or replace your car if it is a total loss.

Hail Damage

Hail can cause damage to your business vehicle, such as large dents and broken glass.

Comprehensive Coverage

This protection pays to repair hail damage to your business vehicle. This coverage may also help repair damage from other non-accident-related events, such as fire, theft or vandalism.

You Are Injured By An Uninsured Driver

If you or your employee are in a collision with an uninsured driver and sustain serious injuries, your livelihood could be at risk.

Uninsured Motorist Coverage

This coverage helps pay for your medical bills if you are injured in an accident that is caused by a driver with no insurance. Or, you may have the protection you need, depending on your policy's bodily injury limit. (Coverage restrictions apply in some states, so be sure to talk to your agent.)

You Owe Money On A Damaged Vehicle

If you still owe money on a loan or lease, you could be responsible for the cost of replacing the vehicle after an accident.

Lease And Loan Gap Coverage

This helps you pay off your car loan if your vehicle is totaled or stolen and the amount you owe is more than the car's depreciated value. This coverage comes standard in an Allstate Business Auto Insurance policy.



Get a personalized quote for your professional firm today.

Request a business insurance quote or contact an Allstate agent today.

Get a BOP quote

This is a brief description of business insurance products; this is not a contract. Read your policy for full details about the coverages. To learn more, please contact your Allstate Agent. Coverages are subject to state availability and qualifications. Other terms, conditions and exclusions may apply. Business Owners Policy is issued by Allstate Insurance Company: Northbrook, IL; Allstate New Jersey Insurance Company: Bridgewater, NJ.

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