What Are the Key Differences Between Liberty Mutual and Mylo Business Owner’s Policy?
Business-Interruption Description
Mylo describes its BOP as three parts: general liability, commercial property, and business interruption for lost income during a covered shutdown. Liberty Mutual's public summary names commercial property and general liability, with optional cyber or professional-liability additions. If your business needs lost-income protection after property damage, ask the Liberty Mutual agent whether it is included and compare its trigger with Mylo's proposed carrier form. [3] [1]
Quote Shopping and Insurer Selection
Mylo compares quotes from multiple carriers and says buyers can use its online recommendation tool or speak by phone with a licensed advisor. Liberty Mutual directs BOP buyers to independent agents for its retail small-business product. Mylo's overview names several partner carriers but does not identify which one would issue a specific BOP; ask for that name before comparing terms with Liberty Mutual's proposed contract. [2] [1]
What Should You Confirm in Liberty Mutual and Mylo Business Owner’s Policy Quotes?
- Ask Mylo which carriers quoted your business, and request the actual business-interruption trigger, limit, and deductible from the selected insurer. [3]
- Ask Liberty Mutual's agent whether business-interruption coverage is included in the proposed form and who issues it. [1]
- Compare property values, liability limits, deductibles, and each policy's covered-shutdown conditions. [3] [1]