Desmond Insurance Blog
A commercial package policy includes the coverage for many dangers. This includes property and liability risk. In fact, a commercial package policy allows businesses a lot of flexibility when getting insurance coverage. Thus, depending on the insurances chosen by the policyholder, he may pay out a lower premium compared to when be bought a business owner policy.
Commercial package policies are common for small or middle-sized businesses. These businesses may not have big liability needs since they do not use large facilities for their operations. However, they may only need some insurance protection for small risks. Here are four benefits associated with a commercial package policy.
Multiple Policies in One
Every commercial package policy lumps together multiple policies under one name. Thus, this means that your business can obtain coverage for a number of different situations and scenarios. This may include coverage for securing the building or property, general liability coverage, or insurance for damage from natural disasters. When your policies are tied together, it is definitely an advantage to you in the long run.
While your commercial package policy includes property insurance, it also includes general liability insurance in order to cover the injuries of your employees or customers. Property insurance is coverage intended for the destruction of or damage to your equipment and facility. Both policies are needed for any small or medium-sized business and even large businesses. While there are companies who think that they have no use for insurance since they always ensure safety in operations, it is still always sensible to have it.
Greater Safety Assurance
Coverage is optional, but it is always a good decision to remain safe. Exercising basic safety measures is good, but you should always be ready when it comes to other dangers. Thus, a decent policy is always the best way to insure a lot of things. In fact, every good and sensible business owner can use a commercial package policy to cover supply chain risk, professional liability, farming losses, terrorism, ranching losses, and many more things that may destroy your business.
Freedom to Select Your Own Coverage
Commercial package policy owners have the freedom to choose and include only the coverage that they want for their business. This is entirely different from a business owner policy, where you cannot choose the standard coverage components although you may not be interested in something it offers. Thus, if you are a commercial package policyholder, then you can choose among product or general liability, property coverage, professional liability, business vehicle and business income liability, and employment practices liability. In fact, you can customize any of these policies as well as the deductible amounts.
Some Final Words
The commercial package policy is indispensable to many small and medium-sized businesses. The idea is that you can freely choose its components if you want to have a particular aspect of your business covered. If you want to know more about the commercial package policy, check our website today.
At Desmond Insurance, we put our clients first by offering them policies that they can afford. Having an insurance is a necessity nowadays and we're here to help you out. Learn more about our products and services by calling our agency at (859) 491-5100. You can also request for a free quote by CLICKING HERE.