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Hiscox Insurance Company

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LAST UPDATED: June 27th, 2019

Hiscox USA boasts being a leading specialist insurance company. The company also states that it is not a traditional insurer, Hiscox USA targets specific types of insurance and becomes experts. Hiscox USA challenges convention in each market and offers market leading products and services to businesses. The company offers general liability, professional liability, and property insurance through brokers and directly online.

Hiscox USA is a part of the Hiscox Group, which employs over 2,300 people in 13 countries.

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The Good

  • Liability Insurance Options
  • Business Owners Policy (BOP)
  • Licensed in 49 States

Liability Insurance Options

If a business is ever sued for claims that arise during business operations, Hiscox USA provides extensive coverage. Liability insurance (also known as third-party insurance) can protect business owners from claims of bodily injury, property damage, or personal injury. Members can choose between professional liability insurance or general liability insurance, or they can choose both.

General liability insurance protects businesses from claims from another person or business’s claims of bodily injury, damage to property, and any associated medical costs.

Professional liability insurance (also known as errors and omissions insurance) is coverage for claims against businesses that provide professional and personal services. Coverage could include protection against a dissatisfied client or claims of negligence.

Business Owners Policy (BOP)

Hiscox USA also offers a Business Owners Policy to help cover any business equipment. While many business owners assume that if they have general liability insurance their losses are covered. However, a general liability policy doesn’t protect a business owner’s own property.

Members should consider purchasing a Business Owners Policy under the following circumstances:

  • Need general liability coverage
  • Own business equipment such as computers, printers, or furniture
  • Own the building they work at
  • Own and work with large amounts of data on a regular basis
  • Have employees who could act dishonestly or steal clients’ property

Licensed in 49 States

Hiscox USA is either admitted or licensed to service 49 states — including the District of Columbia. However, coverage is currently unavailable in Alaska. The company is able to provide insurance to all types of businesses, despite where they are located.

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The Bad

  • Focuses on Small Businesses

Focuses on Small Businesses

Hiscox USA does focus on helping small businesses and may not be an ideal insurer for larger companies.

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The Bottom Line

Hiscox USA has a solid reputation for specialized insurance and liability coverages. Small businesses should definitely reach out the Hiscox and see if it would be a good fit. Hiscox USA is well established, which makes it a good choice for small business owners looking for a company with experience, history of success, and satisfied customers.

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