Commercial Package Policy
As a business owner, adherence to laid down protocols ensure the smooth running of your business. Products are of high quality, services are consistent, and ensuring your customers are satisfied. Using the latest technology and trends to give you an edge in your business. However, even with the best laid down plans, there is always a chance things will change, and something can go wrong. Get your commercial package policy quote now.
Commercial Package Policy
Regardless of the type of business, the size of operations, there are risks that business owners face every day. Any loss and damage fall squarely on the owner who is responsible for their business. The good news is that there’s a way for the owner to protect themselves from such calamities. Investing in a commercial policy protects the business against lawsuits by offering combined coverage for multiple damages under one package.
Cost of Commercial Policies
A standard package policy for a small business is based on the location, size, industry, and experience.
Types of Coverage Offered for Commercial Packages
A commercial package policy, as mentioned, can be tailored to meet the specific needs of a business. It offers a flexible approach to offering insurance policies.
The options include
Commercial General Liability
Protects the business owner from third-party liability claims. Should a client get injured at your business, it will cover the medical expenses, legal fees, and any compensation you must pay.
Commercial Property
The policy covers damages caused to your property by fire, theft, or vandalism.
Commercial Auto
If your company uses vehicles for business, the policy covers accidents that occur when using the vehicles.
Inland Marine
A business that transports products, equipment, and tools from one location to another. The policy covers the products while on transit.
Equipment Breakdown
Provides coverage for losses caused by the breakdown of equipment. It covers the cost of replacing and repairing the equipment.
Commercial package insurance allows up to a certain degree of customization on two or more policies merged into a single policy. It is ideal for small to medium-sized businesses.
There is a difference between a commercial package policy and a business owner’s policy- BOP. A BOP offers multiple coverage’s that may not necessarily be of interest to the business owner. Commercial package insurance offers coverage specifically picked by the business policyholder.
Before you pick the policy, the business owner is essential to understand the risks your business faces by involving a reliable insurance agent.
Since commercial insurance covers specific needs, it is easy to find yourself as a business owner without coverage of certain events.
The bottom line, as a business owner, you want to ensure your customers, staff, and business are protected from many risks and exposures you face.