Desmond Insurance Blog
Today, small businesses are operating in a business environment made more challenging by the pandemic. Some of them were forced to temporarily close their operation since they did not generate enough revenue to support it. Sadly, other small business owners are already pondering on permanently closing their business.
Hence, it is significant for small business owners to have an insurance policy that they can rely on during tough times. It is nice to hear that there is an insurance package specifically designed to meet small businesses’ needs.
What is a Commercial Package Policy?
Commercial Package is an insurance policy that understands the circumstances that small businesses face in their regular business operation. It is called a package since small business owners can bundle together different insurance policies in a single policy.
The insurance package offers a wide range of insurance policies to provide financial protection to many kinds of business risks.
Wide Range of Coverage
Commercial Package Policy offers many kinds of insurance coverages. It provides financial protection from different liabilities and risks across various industries.
The package can offer general liability insurance, property insurance, business income insurance, business vehicle insurance, commercial umbrella liability, electronic data processing coverage, business crime insurance, equipment breakdown, etc. However, most Commercial Package Policy starts with property insurance and general liability insurance.
Unlike large companies and corporations, small businesses do not have enough funds to get different insurance policies. That is the reason why Commercial Package Policy is created—to provide the maximum coverage at a lower cost.
The insurance package offers a cheaper solution for small businesses. Since this package can bundle together in a single policy, business owners will no longer pay multiple premiums for various insurance policies. A single package policy is less expensive than getting separate policies for different coverages.
Moreover, small business owners are free to select the coverage limits for their companies. Hence, they lower the premium amount that they should pay.
The most significant benefit of the Commercial Package Policy is customization. Small business owners can customize the types of coverages and coverage limits to meet their business needs and put it in one policy.
Business owners can modify the insurance package based on their specific needs. They can make it based on liabilities or business-risk specific. Each business faces different kinds of risks. Commercial Package Policy can provide small businesses with the best coverage against liabilities and risks at a more affordable cost.
Liabilities and business risks can happen to any business regardless of its size. However, small businesses are more vulnerable to these since they usually do not have a large budget to work with. Unforeseen events could potentially put them out of business if they do not have financial protection from an insurance package. Commercial Package Policy is here to handle those liabilities and risks for small businesses.
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.