What Are the Key Differences Between Hiscox and TechInsurance Business Owner’s Policy?
Cyber Coverage Is the Deciding Gap
If a phishing attack locks your laptops, a TechInsurance BOP won’t help: it excludes cyberattacks, along with employee injuries, business vehicles and natural-disaster damage unless you add an endorsement. Hiscox lets you add cyber to its BOP, plus hired and non-owned auto and commercial crime, which share the policy’s per-occurrence limit. Choose Hiscox if you want cyber on the same policy and operate outside its seven excluded states; choose TechInsurance if you’re under 100 employees and $1 million in revenue and want a broker to shop for you. [2] [8] [4]
Who Stands Behind the Policy
Hiscox Insurance Company Inc. writes the Hiscox NOW BOP, so the seller and the claims payer are the same company. TechInsurance bundles general liability and property at a discount but doesn’t name the insurer, so you’ll find out only from the quote. [4] [1] [8]
Price and Size Signals
TechInsurance reports its BOP customers pay a median $83 a month, about $990 a year, and says the best fit is a low-risk business in a small commercial space. Hiscox publishes neither a median price nor headcount or revenue cutoffs, so its state list is the only screen you can check in advance. [8] [2] [4]
What Should You Confirm in Hiscox and TechInsurance Business Owner’s Policy Quotes?
- Check that your state isn’t one of Hiscox’s seven exclusions. [4]
- Check your headcount and revenue against TechInsurance’s typical limits. [8]
- Ask TechInsurance which insurer issues the policy. [8]
- If you quote TechInsurance, price a separate cyber policy and the natural-disaster endorsement. [8]
- Ask Hiscox what the cyber add-on costs and what limit it carries. [2]