Comparing Hiscox business property insurance? Here’s how RMO BizProperty stacks up against Hiscox — on multi-location coverage, equipment breakdown, and bundled member benefits.
How RMO BizProperty and Hiscox compare on coverage scope, channels, and member benefits.
| Feature | RMO BizProperty | Hiscox |
|---|---|---|
| Channel | Direct through RMO BizMembership | Direct online + broker channel |
| Plan Tiers | BizProperty I, II, III, IV | Quote-by-quote underwriting; BOP / standalone Property options |
| Locations Covered | 1 (I) · up to 3 (II) · up to 10 (III) · unlimited (IV) | Single-location BOP; multi-location placements typically through brokers |
| Building & Contents Coverage | Included from BizProperty I | Included |
| Business Income Protection | Included from BizProperty II | Included on most BOP and commercial property programs |
| Equipment Breakdown Coverage | Included from BizProperty III | Available as endorsement |
| Ordinance & Law Compliance | Included from BizProperty III | Available as endorsement |
| Agreed Value (No Coinsurance Penalty) | Included at BizProperty IV | Available with broker placement |
| Flood Coverage | Included at BizProperty IV | Typically separate (NFIP / private flood) |
| BOP (Business Owner’s Policy) | BizProperty + separate liability lines | Hiscox BOP combines property + general liability |
| Strength for Professional / Tech Firms | Standard SMB property focus | Hiscox is particularly strong for professional services, tech, consulting |
| Online Quoting | Through BizMembership process | Hiscox online quote for many small-business risks |
| Member Pricing on Other Products | Yes — banking, treasury, business protection, more | Multi-policy discount within Hiscox lines |
| Membership Required | Yes — RMO BizMembership (I/II/III by tier) | No membership needed |
Coverage details summarized for comparison. Specific covered perils, sublimits, exclusions, deductibles, available endorsements, and pricing vary by underwriting and quote.
Coverage scope and number of locations expand across BizProperty tiers.
Requires BizMembership I
Requires BizMembership I
Requires BizMembership II
Requires BizMembership III
Prices reflect current monthly rate cards and do not include the cost of BizMembership. Final premium may be adjusted based on industry, building, and exposure.
Both providers cover real ground. They suit different SMB profiles.
Join RMO BizMembership to access BizProperty and other business member benefits. Higher BizProperty tiers require BizMembership II or III.
Pick the tier that matches your location count and coverage needs, then request a quote based on your industry, buildings, and exposure.
Once your BizProperty policy is bound with an effective date, contact Hiscox or your broker to cancel for that date. They typically issue a prorated refund.
Hiscox is well-regarded for small-business commercial insurance — particularly for professional services, technology, and consulting firms. They offer Business Owner’s Policy (BOP) and standalone property coverage with strong online quoting for simpler risks. RMO BizProperty is a tier-based business property product that bundles with broader RMO BizMembership benefits.
RMO BizProperty has built-in multi-location structure — Tier II covers up to 3 locations, Tier III covers up to 10, Tier IV covers unlimited locations. Hiscox typically handles multi-location through commercial-program placements rather than a single BOP, which usually requires broker involvement.
BizProperty III includes equipment breakdown coverage. BizProperty IV includes both flood and equipment breakdown. At Hiscox, flood is typically separate (NFIP or private flood) and equipment breakdown is an endorsement.
BizProperty is a property product. For combined property + general liability under one Hiscox BOP, that’s currently a Hiscox strength. RMO members may need to combine BizProperty with separate liability lines for similar coverage. If a single integrated BOP matters to you, Hiscox is the better fit.
Hiscox specializes in your segment — that’s real value if your underwriting fits their wheelhouse. Quote both with the same coverage parameters and compare. If you also need BizCyber, BizD&O, or business banking, the RMO bundle may justify switching.
Get a BizProperty quote, bind the new policy with an effective date, then cancel your Hiscox policy for that date through Hiscox or your broker. They typically issue a prorated refund. We recommend overlapping coverage by one day so you’re never uninsured.
Become an RMO Business Member and access BizProperty along with banking, treasury, and the rest of your member benefits.
