Commercial package insurance is a kind of bundle insurance that covers the different needs of a business owner. With this package, two or more individual plans are combined into one flexible package. It is also tailored to the business owner’s own needs and has two main benefits for a business:
- Commercial Package Insurance allows a more straightforward method for purchasing because of its bundled coverages.
- Purchasing commercial package insurance is more affordable than the total of each coverage’s premium.
What are the Coverages of Commercial Package Insurance
Getting bundled coverages together in commercial package insurance makes it easier and cheaper to buy insurance. With that being said, you can be curious about what are the inclusions in commercial package insurance. Below are some of its inclusions:
- General Liability Coverage
This coverage protects the business from third-party lawsuits concerning injuries. It mostly covers legal and medical fees, including damages and settlements, if any.
- Commercial Vehicle Coverage
This type of coverage protects business vehicles and their operators. In case of any bodily injury, legal and medical fees are covered. Property damage and settlements are covered as well.
- Property Liability Coverage
In case of fire and other hazards, this coverage protects the building or office from property damages.
- Crime Protection
Crimes are inevitable. This coverage protects the business from any losses related to crimes. It also covers losses from fraud, robbery, theft, and more.
Keep in mind that most commercial package insurance does not cover Professional Liability claims. This policy requires separate coverage. Worker’s compensation, health, and disability insurance are not part of commercial package insurance as well.
Who Needs Commercial Package Insurance?
Commercial Package Insurance is suited for businesses that need a comprehensive range of protection in a single flexible plan.
Most insurance companies offer tailored Commercial Package Insurance for specific types of businesses. Some of them are schools, churches, light and heavy manufacturing, health care providers, and more.
At Brad Spurgeon Insurance Agency Inc., we aim to provide comprehensive insurance policies that make your life easier. We want to help you get the insurance that fits your needs. You can get more information about our products and services by calling our agency at (409) 945-4746. Get your free quote today by CLICKING HERE.