Desmond Insurance Blog
Starting a business can be considerably hard, especially if you’re starting from scratch. In planning for your business operation, make sure that you fully know your target market and your lines of product or service. Before delving in the industry, research types of insurance you can purchase. To save up on money, for starters, commercial package insurance is the perfect policy.
What is Commercial Package Insurance?
Commercial package insurance is a type of policy that does not require further business write-ups. In this insurance, the line of your business will not be an issue. For a business start-up, this is the right choice of insurance because it works best for small to medium scale businesses. Large-scale companies usually need a guarantee with more complicated coverage.
In buying this insurance, agents will ask you to evaluate the potential risks you might encounter while running the business. Be honest, and make sure that all the information you provided is correct. A lot of factors, like the location and number of employees, can affect the cost of your premiums.
Coverage of Commercial Package Policy
When you think of it, purchasing individual policies to cover your business can cost you more. In commercial package policy, different plans are combined into one package, so you can save money and allot your savings into other improvements for your business.
Typically, this policy covers general liability and commercial property insurance. You can also add other options depending on the terms of the coverage. In cases of embezzlement, liability insurance is also covered by commercial package policy. This insurance will help your business to avoid liquidation.
Difference between Commercial Package Policy and Business Owner Policy
The main difference between the two policies relies on the policyholder. To think it through, commercial package policy is more advantageous than business owner policy because the client can choose what type of coverage to include in the insurance. Unlike in business owner insurance, there is a preset of coverage that you cannot choose from. Although both policies are combinations of individual coverage, make sure that the plan you will get only covers your necessity, so you can also save up.
In the industry, you will face a lot of threats that can affect your business. You should be careful about doing every action. Having insurance is a way to guarantee that your business is protected at all costs.
At Desmond Insurance, we do our best in making sure that our clients are well-protected with affordable and comprehensive policies. We make sure to go the extra mile to help you with your needs. To learn more about how we can help you, please contact our agency at (859) 491-5100 or Click Here to request a free quote.